TSXV: PGZ OTCQB: PGZFF
- In-fill drill holes at La Romana intersect additional high
grade mineralization;
-
- 15m at 1.2% Cu, 0.05% Sn, 5.4g/t
Ag, including 7.8m at 1.9% Cu, 0.07%
Sn, 8.8g/t Ag
- 22m at 0.7% Cu, 0.07% Sn 3.1g/t
Ag, including 12m at 1.1% Cu, 0.13%
Sn, 5.0g/t Ag
- First drill holes at Romana Deep deliver encouraging results
and follow-up geophysics planned
- Exploration drilling ongoing at Zarcita and La Romana
- Drilling to commence at Cañada Honda target
VANCOUVER, BC, April 19,
2023 /CNW/ - Pan Global Resources Inc. ("Pan Global"
or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) is pleased to announce
assay results for its ongoing diamond drilling at the La Romana
copper-tin-silver discovery and results for the first three drill
holes at the Romana Deep target at the Company's 100%-owned
Escacena Project in the Iberian Pyrite Belt, southern Spain.
"The near surface high grade copper, tin, and silver results
reported today confirm the continuity of the La Romana
mineralization and highlight the potential to improve the overall
grade with further in-fill drilling," said Tim Moody, Pan Global's President & CEO.
"Planned testing of the strike extensions of the gravity and
electrical geophysics targets east and west of the La Romana
discovery is expected to further expand the area of
mineralization."
"Exploration drilling at the Romana Deep target revealed an
80-meter-plus zone of alteration similar to that associated with
mineralization at La Romana. The first three holes encountered
multiple narrow intercepts of high grade copper mineralization up
to 1.0m thick grading 1.1% to 3.8% Cu
and up to 0.43% Sn and 55g/t Ag. The frequency of thin bands of
massive and semi-massive sulphide and alteration intensity indicate
an ecouraging vector with increasing copper towards the east,
providing a guide for follow-up drilling."
Drill results are summarized in Table 1 and drill hole collar
details are presented in Table 2 below. Drill hole locations are
shown in Figure 1.
La Romana
Drilling Highlights
- LRD145 – 15m at 1.2% Cu, 0.05% Sn, 5.4g/t Ag from
74m, including
-
- 7.8m at 1.9% Cu, 0.07% Sn and
8.8g/t Ag (includes 0.4m at 16.1% Cu,
0.08% Sn, 68.1 g/t Ag)
- LRD142 – 22m at 0.7% Cu, 0.07% Sn and 3.1g/t Ag from
40m, including
-
- 12m at 1.1% Cu, 0.13% Sn and
5.0g/t Ag
- LRD144 – 22m at 0.5% Cu, 0.05% Sn and 2.9g/t Ag from
50m, including
-
- 7m at 1.0% Cu, 0.13% Sn, 4.6g/t
Ag
- LRD143 – 70.85m at 0.33% Cu, 0.03% Sn and 2.3g/t Ag from
57m, including
-
- 6m at 1.1% Cu, 0.01% Sn, 5.2g/t
Ag, 0.6m at 1.9% Cu, 0.12% Sn,
10.8g/t Ag, 1.0m at 1.1% Cu, 0.04%
Sn, 6.4g/t Ag, and 0.6m at 1.7% Cu,
0.11% Sn, 9.4g/t Ag
The new drill results at La Romana intersected high grade copper
(Cu) in four of the five drill holes targeting electromagnetic (EM)
anomalies within the drill area. Together with previous drilling,
the results further demonstrate good continuity of the
mineralization and the potential for additional infill drilling to
have a positive impact on the overall grade at La Romana. Drill
holes LRD142 and LRD145 delivered the highest grade Cu, tin (Sn),
and silver (Ag) intersections compared to previous drilling on the
same north-south section (see Figures 2 and 3 below). Hole
LRD143 returned one of the widest
intersections reported at La Romana with 0.33% Cu over 70.85m, including 6m at 1.1% Cu plus additional narrow high grade
Cu-Sn-Ag intersections.
Results are pending for a further five stepout drill holes
targeting EM anomalies and downdip projections of the La Romana
mineralization. An additional 10 drillholes are planned to test a
gap in the drill pattern, previously inaccessible due to farm
infrastructure, for additional high grade copper mineralization.
These holes will also test the potential for additional
near-surface supergene enriched chalcocite mineralization.
Additional holes will test the continuity of tin mineralization and
provide samples required for the tin metallurgy test work program.
Drilling of the untested western strike projection of the La Romana
mineralization is planned pending access.
Romana Deep
The three drill holes testing a heliborne EM anomaly at Romana
Deep each intersected more than 80m
thick zones of chlorite and sericite alteration with multiple thin
bands of massive and semi massive sulphide with high copper grades.
The drilling shows alteration and associated copper mineralization
extending from 300m to more than
600m downdip from the near-surface La
Romana mineralization. The results for drill holes RDD02 and RDD03
indicates the heliborne EM anomaly in this area is potentially
related to an upper copper mineralized horizon, approximately
100m stratigraphically above the main
La Romana copper mineralization.
The drill results also highlight a vector to the east,
characterized by increasing intervals of semi-massive and massive
sulphide towards the east and anomalous copper over a wide interval
in hole RDD01, the easternmost hole. Follow-up drilling at Romana
Deep will be planned on completion of additional geophysics to help
identify potentially thicker zones of high grade mineralization and
potential to the east.
High grade intercepts at Romana Deep include:
- RDD01 – 73.6m at 0.13% Cu from
454.2m, including
-
- 0.25m at 1.7% Cu, 9.9g/t Ag from
456.30m
- 0.20m at 3.5% Cu, 11.2g/t Ag from
460.90m
- 0.20m at 1.1% Cu, 5.6g/t Ag from
493.60m
- 0.35m at 2.4% Cu, 9.1g/t Ag from
497.45m
- 0.25m at 3.8% Cu, 29.8g/t Ag,
0.15g/t Au from 513.85m
- 0.40m at 1.6% Cu, 3.9g/t Ag from
527.40m
- RDD02 – 1.0m at 1.4% Cu, 10.2g/t
Ag from 310.0m, and
-
- 0.5m at 1.2% Cu, 5.7g/t Ag from
369.75m
- 0.6m at 3.0% Cu, 55.3g/t Ag from
561.65m
- 1.0m at 1.3% Cu, 7.4g/t Ag from
565.00m
- RDD03 – 1.0m at 1.1% Cu, 0.43%
Sn, 4.3g/t Ag from 513.00m
Table 1 – Escacena Project, drill results summary
(all intersections are >90% to approximately 100% of true
thickness)
La
Romana
|
|
|
|
|
|
|
|
|
|
|
Hole
|
From
|
To
|
Interval
|
Cu
|
Sn
|
Ag
|
Co
|
Au
|
|
Pb
|
Zn
|
|
m
|
m
|
m
|
%
|
%
|
g/t
|
ppm
|
g/t
|
|
ppm
|
ppm
|
LRD141
|
74.00
|
87.65
|
13.65
|
0.2
|
0.01
|
1.4
|
66
|
0.01
|
|
58
|
374
|
|
|
|
|
|
|
|
|
|
|
|
|
LRD142
|
40.00
|
62.00
|
22.00
|
0.7
|
0.07
|
3.1
|
77
|
<0.01
|
|
65
|
399
|
inc.
|
41.00
|
53.00
|
12.00
|
1.1
|
0.13
|
5.0
|
96
|
<0.01
|
|
29
|
431
|
inc.
|
40.00
|
43.00
|
3.00
|
1.0
|
0.24
|
5.6
|
98
|
<0.01
|
|
38
|
321
|
inc.
|
46.00
|
53.00
|
7.00
|
1.4
|
0.11
|
6.0
|
104
|
<0.01
|
|
36
|
559
|
|
|
|
|
|
|
|
|
|
|
|
|
LRD143
|
57.00
|
127.85
|
70.85
|
0.33
|
0.03
|
2.3
|
76
|
<0.01
|
|
95
|
566
|
inc.
|
57.00
|
63.00
|
6.00
|
1.1
|
0.01
|
5.2
|
133
|
0.01
|
|
36
|
670
|
inc.
|
59.00
|
62.00
|
3.00
|
1.6
|
0.01
|
6.7
|
145
|
0.01
|
|
38
|
532
|
inc.
|
100.45
|
101.00
|
0.55
|
1.9
|
0.12
|
10.8
|
239
|
0.04
|
|
150
|
863
|
inc.
|
108.00
|
109.00
|
1.00
|
1.1
|
0.04
|
6.4
|
90
|
0.01
|
|
268
|
804
|
inc.
|
127.25
|
127.85
|
0.60
|
1.7
|
0.11
|
9.4
|
612
|
0.09
|
|
481
|
2190
|
|
|
|
|
|
|
|
|
|
|
|
|
LRD144
|
50.00
|
72.00
|
22.00
|
0.5
|
0.05
|
2.9
|
66
|
<0.01
|
|
100
|
639
|
inc.
|
57.00
|
64.00
|
7.00
|
1.0
|
0.13
|
4.6
|
89
|
<0.01
|
|
94
|
615
|
inc.
|
59.00
|
64.00
|
5.00
|
1.2
|
0.10
|
5.1
|
95
|
<0.01
|
|
97
|
695
|
|
|
|
|
|
|
|
|
|
|
|
|
LRD145
|
74.00
|
89.00
|
15.00
|
1.2
|
0.05
|
5.4
|
97
|
<0.01
|
|
114
|
588
|
inc
|
74.00
|
87.00
|
13.00
|
1.3
|
0.06
|
6.0
|
105
|
<0.01
|
|
118
|
626
|
inc.
|
77.50
|
85.30
|
7.80
|
1.9
|
0.07
|
8.8
|
131
|
0.01
|
|
156
|
787
|
inc.
|
77.50
|
79.00
|
1.50
|
3.0
|
0.18
|
14.4
|
173
|
0.02
|
|
185
|
1144
|
inc.
|
84.00
|
85.30
|
1.30
|
6.5
|
0.07
|
28.0
|
292
|
0.04
|
|
367
|
1561
|
inc.
|
84.90
|
85.30
|
0.40
|
16.1
|
0.08
|
68.1
|
557
|
0.07
|
|
802
|
3020
|
Romana
Deep
|
|
|
|
|
|
|
|
|
|
|
Hole
|
From
|
To
|
Interval
|
Cu
|
Sn
|
Ag
|
Co
|
Au
|
|
Pb
|
Zn
|
|
m
|
m
|
m
|
%
|
ppm
|
g/t
|
ppm
|
g/t
|
|
ppm
|
ppm
|
RDD01
|
454.20
|
527.80
|
73.60
|
0.13
|
<0.01
|
0.9
|
29
|
<0.01
|
|
93
|
284
|
inc.
|
456.30
|
456.55
|
0.25
|
1.7
|
<0.01
|
9.9
|
128
|
0.02
|
|
76
|
602
|
inc.
|
460.90
|
461.10
|
0.20
|
3.5
|
0.01
|
11.2
|
195
|
0.05
|
|
53
|
536
|
inc.
|
493.60
|
493.80
|
0.20
|
1.1
|
<0.01
|
5.6
|
64
|
0.05
|
|
196
|
939
|
inc.
|
497.45
|
497.80
|
0.35
|
2.4
|
<0.01
|
9.1
|
54
|
0.10
|
|
207
|
6980
|
inc.
|
513.85
|
514.10
|
0.25
|
3.8
|
0.01
|
29.8
|
351
|
0.15
|
|
225
|
615
|
inc.
|
527.40
|
527.80
|
0.40
|
1.6
|
<0.01
|
3.9
|
163
|
0.07
|
|
40
|
215
|
|
|
|
|
|
|
|
|
|
|
|
|
RDD02
|
310.00
|
311.00
|
1.00
|
1.4
|
<0.01
|
10.2
|
124
|
0.17
|
|
536
|
598
|
|
369.75
|
370.25
|
0.50
|
1.2
|
<0.01
|
5.7
|
94
|
0.03
|
|
23
|
93
|
|
561.65
|
562.25
|
0.60
|
3.0
|
0.01
|
55.3
|
167
|
0.11
|
|
9470
|
14300
|
|
565.00
|
566.00
|
1.00
|
1.3
|
<0.01
|
7.4
|
136
|
0.05
|
|
669
|
528
|
|
|
|
|
|
|
|
|
|
|
|
|
RDD03
|
513.00
|
514.00
|
1.00
|
1.1
|
0.43
|
4.3
|
63
|
0.02
|
|
17
|
127
|
Table 2 – Escacena Project, drill hole collar information
(Total 2609.75m)
Hole_ID
|
Easting1
|
Northing1
|
Azimuth
(º)
|
Dip
(º)
|
Depth
(m)
|
LRD141
|
736842
|
4152657
|
180
|
-55
|
180
|
LRD142
|
736484
|
4152669
|
180
|
-55
|
120
|
LRD143
|
736735
|
4152673
|
180
|
-55
|
161.4
|
LRD144
|
736438
|
4152708
|
180
|
-55
|
125.5
|
LRD145
|
736487
|
4152717
|
180
|
-55
|
165.15
|
RDD01
|
736788
|
4153045
|
180
|
-90
|
608.4
|
RDD02
|
736680
|
4153109
|
180
|
-90
|
629.4
|
RDD03
|
736527
|
4153046
|
180
|
-90
|
619.9
|
1Coordinates are in ERTS89 datum
UTM29N
|
Drilling is ongoing in the Escacena Project at the La Romana and
Zarcita targets and is due to commence at the Cañada Honda target
approximately 5 km north of La Romana targeting geophysics targets
adjacent to historical mine workings. Results are pending for
approximately 15 drill holes at La Romana and Zarcita. Negotiations
are progressing with land owners for access to the untested
potential near-surface extensions to the La Romana
mineralization.
QA/QC Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal
sample size was 1m core length and
ranged from 0.4 to 2m. Sample
intervals were defined using geological contacts with the start and
end of each sample physically marked on the core. Diamond blade
core cutting and sampling was supervised at all times by Company
staff. Duplicate samples of ¼ core were taken approximately every
30 samples and Certified Reference materials inserted every 25
samples in each batch.
Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS
laboratory in Ireland. All samples
were crushed and split (method CRU-31, SPL22Y), and pulverized
using (method PUL-31). Gold analysis was by 50gm Fire assay with
ICP finish (method Au-ICP22) and multi element analysis was
undertaken using a 4-acid digest with ICP AES finish (method
ME-ICP61). Tin was analyzed in selected intervals using Lithium
borate fusion and ICP MS finish (method ME-MS81). Over grade base
metal results were assayed using a 4-acid digest ICP AES (method
OG-62). Over grade tin was determined using peroxide fusion with
ICP finish (method Sn-ICP81x).
About the Escacena
Project
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. The project is located near
operating mines at Las Cruces and Riotinto and is immediately
adjacent to the former Aznalcóllar and Los Frailes mines where
Minera Los Frailes/Grupo Mexico is in the final permitting stage
with construction anticipated to restart in 2023. The Escacena
Project hosts the La Romana copper-tin discovery and a number of
other prospective targets, including Zarcita, Hornitos, La Jarosa,
Romana Deep, Bravo, Barbacena, El Pozo, and San Pablo.
About Pan Global
Resources
Pan Global Resources Inc. is actively engaged in base and
precious metal exploration in southern Spain and is pursuing opportunities from
exploration through to mine development. The Company is committed
to operating safely and with respect to the communities and
environment where we operate.
Qualified Persons
James Royall, Vice President
Exploration for Pan Global Resources and a qualified person as
defined by National Instrument 43-101, has reviewed the scientific
and technical information for this news release. Mr. Royall is not
independent of the Company.
On behalf of the Board of Directors
www.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.
The Company believes that the expectations reflected in the
forward-looking information included in this news release are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking information
should not be unduly relied upon. 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.
The forward-looking information contained in this news release
is based on information available to the Company as of the date of
this news release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any
obligation, to update this forward-looking information.
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.
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