Pan Global Resources Advances Drilling at Escacena Project, Spain
Visual Copper Mineralization in All Holes Completed to Date
Vancouver, September 8, 2020 - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to report good progress on the phase 3 step-out drilling program in progress at the La Romana copper target in the Escacena Project, southern Spain. The first five drill holes of this program have been completed with copper mineralization intersected in each hole.
Tim Moody, President and CEO of Pan Global commented, "We are very encouraged to report visual copper mineralization in all the new drill holes at La Romana. This includes multi-layer copper mineralization over intervals from several meters to more than 30m thickness. Logging and sampling of the drill core is progressing quickly and assay results awaited".
The company has completed five new drill holes (LRD09, LRD10, LRD11, LRD12 and LRD13) for a total 739.5m. The drill holes are part of a 3,500m, twenty-five-hole program designed to delineate and expand the copper-tin-silver mineralization intersected in the previous eight drill holes at the La Romana target.
The drill holes will also further test two large down-hole electromagnetic (DHEM) conductor plate anomalies and multi-layer copper potential. Previous drill highlights include LRD02, which intersected 20.55m at 1.5% Cu equivalent from 37m, including 7m at 3.43% Cu equivalent, and LRD-05 with 21m at 1.55% Cu equivalent from 12m, including 11m at 2.60% Cu equivalent.
Each drill hole has intersected copper mineralization broadly where predicted, including semi-massive and stringer style sulphides. The mineralization includes mostly chalcopyrite and local secondary copper minerals such as chalcocite, native copper and red copper oxides. Sections also contain elevated values of tin, lead and zinc based on portable XRF analysis and core logging.
Drill hole locations are shown on Figure 1 below. Hole LRD09 was drilled approximately 120m east of hole LRD08, targeting the lower DHEM conductor. Hole LRD 10 stepped approximately 50m east of hole LRD04. Holes LRD11 and LRD12 step approximately 50m east and west, respectively, from hole LRD05 testing the upper conductor. Hole LRD12 stepped approximately 50m west of hole LRD07 testing the up-dip extension of the upper DHEM conductor. Hole LRD14 will be collared approximately 120m northeast of hole LRD9 to further test the lower DHEM conductor.
The new drill holes confirm copper mineralization, with associated tin, lead and zinc, continues from near surface and remains open in several directions. Copper mineralization appears to increase towards the east, associated with the lower DHEM conductor. The Company expects to provide ongoing updates as drilling progresses. DHEM will also be completed in selected drill holes.
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.
Figure 1 - Drill hole locations.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5190/63353_f5813a3c84d7ab5a_001full.jpg
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63353
