Pan Global Resources Commences 3,500m Drill Program at Escacena Project, Spain
- Phase 3 drill program commenced at La Romana
- Up to 25 drill holes, approximately 3,500 meters, to significantly expand the copper mineralization
- Fully funded for expanded drill program
Vancouver, August 10, 2020 - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to announce follow-up drilling has now commenced at the La Romana copper target in the Escacena Project, Iberian Pyrite Belt, southern Spain.
Tim Moody, President and CEO of Pan Global commented: "We are excited to once again be drilling at the La Romana target. The aim of this drill phase is to start defining the geometry and significantly expand the copper mineralization over approximately 800 meters of strike. The planned drill holes will also test the multi-layer potential and help to define vectors to areas of stronger mineralization."
The Phase 3 drill program includes up to twenty-five core holes for a total of approximately 3,500 meters. The planned drilling includes step-out holes testing strike and dip extensions of the copper mineralization intersected in the previous drill holes. The drilling will progress on approximately 50-meter centers in all directions from the previous drill holes and also include several step-out holes beyond 50 meters.
This program will also further test two large down-hole EM conductor plate anomalies and multi-layer copper potential. The down-hole EM conductor plates coincide with the copper mineralization in two separate layers and indicate potential for the mineralization to extend along strike, up and down dip.
The drill hole sequence will be adjusted as the program advances according to results. One drill rig is currently operating with the potential to add a second rig as the program advances. Pan Global is fully funded for an expanded drill program.
Previous highlights include drill hole LRD-02[1] which intersected 20.55m at 1.5% CuEq (1.02% Cu, 0.11% Sn, 4.7g/t Ag) from 37m, including 7m at 3.43% CuEq and hole LRD-05[2] which intersected 21m at 1.55% CuEq (1.19% Cu, 0.07% Sn, 5.8g/t Ag) from 16m down-hole depth. The copper mineralization occurs in at least three shallow north dipping (approximately 30-35 degrees) copper layers extending from near surface. Historical mise-a-la-masse and IP geophysics show additional upside potential East and West over more than 2 kilometers of strike.
Qualified Person
Robert Baxter (FAusIMM), a Director of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Baxter is not independent of the Company.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development. The company has committed to operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
www.panglobalresources.com.
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info@panglobalresources.com
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
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[1] Pan Global Resources news release October 23, 2019
[2] Pan Global Resources news release April 22, 2020
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