Pan Global Resources Inc. [TSXV: PGZ; OTCQB: PGZFF; FRA: 2EU] provide updates on its concurrent drill programs at the company’s 100%-owned flagship Escacena Project in southern Spain and the Cármenes Project, northern Spain.
“The 2025 drill programs at the Escacena and Cármenes Projects are testing a compelling suite of high-priority targets, highlighting excellent potential for additional new discoveries of significant mineralization,” said Tim Moody, President and CEO. “Simultaneously, the team is advancing the plans for the La Romana copper-tin-silver deposit’s maiden Resource due for delivery before year-end, and the step-out drill program is targeting wider zones of higher-grade mineralization for inclusion in the maiden Resource.”
A total of 20 drillholes have been completed at Escacena and Cármenes as part of the 7,000-metre 2025 drill program, testing multiple targets.
Escacena: Eight additional wide-spaced step-out drillholes are planned at La Romana to test extensions of the high-grade mineralization ahead of the maiden Mineral Resource Estimate. Recent drill results have extended the surface strike-length of the mineralization to 1.7km, and it remains open in several areas.
Five drillholes have recently been completed at the Bravo target, with three additional drillholes planned for this phase of the drill program. Drilling to-date has intersected encouraging alteration and sulphide mineralization. Results to be reported on completion of the planned drilling.
Drilling currently testing a strong IP chargeability anomaly on three parallel IP lines, extending over 400 meters east-west, in the south of Bravo and 1 km east of the La Romana copper-tin-silver deposit.
Drilling will also test the Hornitos and Plomillos targets, testing coincident soil Pb-Zn and strong co-incident geophysics anomalies (IP, heliborne EM, and magnetics).
Information obtained from the ongoing drill programs is being used to revise the geophysics interpretation to identify additional potential mineralization for follow-up drilling, including the La Pantoja target where recent drilling confirmed high grade copper and tin mineralization, including 1.53% Cu, 0.05% Sn, 3.9 g/t Ag over 3m in drillhole LPD01 and 5.36% Cu, 8.7 g/t Ag over 1m in drillhole LPD03.
Cármenes: Three of six planned drillholes at the Providencia target have been completed. Results highlight wide breccia intercepts over more than 100m width, and gold mineralization from near surface in every drillhole to date, including 1.08 g/t over 46m in drillhole PVD02, including 6.27 g/t Au over 4m; 0.37 g/t Au over 56m in drillhole PVD03, including 2.19 g/t Au over 4m, 1.05 g/t Au over 10m and 1.22 g/t Au over 4m, 0.23 g/t Au over 110m in PVD04, including 0.59 g/t Au, 1.05% Cu, 0.22% Co, 0.22% Ni over 4m, and 0.51 g/t Au over 14m
Drilling currently testing an area of breccia with gold identified in soil, trench, and channel sampling immediately east and outside of the historical Providencia mine works.
Detailed mapping and surface geochemistry sampling planned ahead of drilling at the Profunda target, 1km south of Providencia
Target selection and prioritization also in progress following interpretation of the recent helicopter electromagnetic, magnetic, and radiometric survey over Cármenes, with more than 30 new targets identified
Pan Global is also advancing the selection process for a consultant to deliver a NI 43-101-compliant Technical Report, including a maiden Mineral Resource Estimate for the La Romana copper-tin-silver deposit at the company’s flagship Escacena Project located within 40km of three existing mining operations/developments and processing plants on the Iberian Pyrite Belt.
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is in the final permitting stage for mine development. The Escacena Project hosts Pan Global’s La Romana and La Pantoja copper-tin-silver discoveries and the Cañada Honda copper-gold discovery. Escacena hosts a number of other prospective targets, including Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo.
The Cármenes Project is located approx. 55km north of León in northern Spain in the same geologic belt as Orvana’s Orovalle copper-gold mining operation and the Salamon gold deposit and comprises five 100%-owned Investigation Permits over 5,653 hectares. The project area is highly prospective for multiple bodies or “clusters” of carbonate-hosted “pipe-like” breccia style copper, nickel, cobalt, and gold mineralization.
The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight potential for additional breccia pipes. These types of ore deposits can have significant vertical dimensions exceeding 1km.
The company’s flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment.
The company’s second project, at Cármenes in northern Spain, is also an area with a long mining history and excellent infrastructure. The company is a member, and operates under the principles, of the United Nations Global Compact.
