Pan Global Resources Inc. (TSXV: PGZ) has received positive new drill results and expanded the La Romana mineralised target area at the Escacena Project in the Iberian Pyrite Belt, southern Spain.
Exploration is also in progress on the adjoining Al Andaluz permit area within the Escacena Project where drilling has commenced at the La Jarosa target.
President and CEO, Tim Moody, said the latest results further confirm that high-grade copper mineralizstion continues near to surface at La Romana, with recent drilling returning more than 2% Cu over 10.1m from less than 10m below surface.
“The new drill results also extend the copper and tin mineralisation to the west and show that the mineralization is wide open in several directions. It should also be noted that further results are also awaited for more than 20 drill holes.
“These latest results are very encouraging and continue to expand the near surface high-grade copper/tin target at La Romana, the first of several gravity targets on the Escacena Project.
“Following the recent grant of the Al Andaluz permit we have rapidly mobilised a drill rig and are excited to have commenced drilling the first hole at the La Jarosa copper target, some four km from La Romana.
“An extensive exploration programme is also now in progress, including gravity and surface geochemistry surveys, and a high-resolution airborne electromagnetic survey due to begin within the next two-weeks. Once data is available from this work the company plans to commence a substantial follow up drill program throughout 2022.”
Highlights include:
- 10m at 2.5% CuEq (2.02% Cu, 0.09% Sn, 9.2g/t Ag) from 10.9m in LRD90, including
- 5.35m at 4.2% CuEq (3.49% Cu, 0.14% Sn, 15.2g/t Ag)
- 30.2m at 0.8% CuEq (0.42% Cu, 0.09% Sn, 3g/t Ag) from 122.3m in LRD83, including
- 9m at 1.01% CuEq (0.51% Cu, 0.12% Sn, 3.7g/t Ag)
- 1.05m at 1.9% Cu, 0.3% Sn, 23.9g/t Ag, 0.16g/t Au, 1% Pb, 1.5% Zn
- 17m at 0.8% CuEq (0.74% Cu, 0.011% Sn, 1.9g/t Ag) from 107m in LRD98, including
- 6m at 1.8% CuEq (1.62% Cu, 0.023% Sn, 4.2g/t Ag)
- 11m at 0.7% CuEq (0.61% Cu, 0.01% Sn, 1.6g/t Ag) from 107m in LRD99, including
- 4m at 1.3% CuEq (1.17% Cu, 0.02% Sn, 2.8g/t Ag)
- 0.3m at 12% CuEq (0.48% Cu, 2.96% Sn, 2.5g/t Ag) from 43.8m and
16m at 0.7% CuEq (0.57% Cu, 0.04% Sn, 1.9g/t Ag) from 80m in LRD104, including - 5m at 1.5% CuEq (1.2% Cu, 0.07% Sn, 4g/t Ag)
The 2022 exploration plan includes up to 20,000m of drilling at the Escacena Project (approx. 40 to 60 holes), most of which will test targets generated from the regional surveys. A significant follow-up drill programme (meterage to be determined) is also expected in the second half of 2022.
Drilling has commenced on the La Jarosa target in Al Andaluz designed to follow-up the historic Exxon drill hole PJ2 1985 which intersected 9.5m at 1.42% Cu. A second drill hole is also planned to test dip extensions to the mineralisation.
The Exxon drill hole was never followed up and the drill core is no longer available to verify the results. The company makes no representation as to the reliability or accuracy of the historical Exxon drill results. For further information please visit: https://www.panglobalresources.com/
