Pan Global Resources Inc. (TSXV: PGZ | OTCQX: PGZFF | FSE: 2EU) has announced results for two further drillholes from an 11-hole step out drill programme at the Cañada Honda copper-gold (Cu-Au) discovery, on the company’s 100% owned Escacena Project in the Iberian Pyrite Belt, southern Spain.
Drilling has resumed, with additional holes planned targeting extensions of Cañada Honda copper and gold mineralization.
“These excellent results provide further indication of size potential and continuity of the copper-gold mineralization at the Cañada Honda target. We are also excited about the results showing significant gold in the structural hanging wall at Cañada Honda,” said Tim Moody, president, and CEO of Pan Global.
Highlights of the results include:
- Drillhole CHD09:
- 1m at 0.45% Cu, 10.5g/t Au, 9.5g/t Ag, 0.12% Co from 120m
- 1m at 1.12g/t Au, 7.9g/t Ag, 0.26% Zn from 133m
- 20m at 1.09g/t Au, 0.6g/t Ag from 154m, including
- 2m at 5.83g/t Au, 2.7g/t Ag
- Drillhole CHD10:
- 3m at 0.59% Cu, 0.34g/t Au, 2.0g/t Ag from 150m, including
- 5.6m at 1.15% Cu, 0.67g/t Au, 3.8g/t Ag
- 2m at 0.21% Cu, 5.25g/t Au, 1.1g/t Ag from 174m
- Hole ends in 1.1m at 0.27% Cu, 0.42g/t Au, 1.6g/t Ag from 198m
Two styles of mineralization have been recognized at Cañada Honda; Copper-gold volcanogenic massive sulphide (VMS) style mineralization (pyrite, chalcopyrite) and gold mineralization associated with quartz-sulphide (pyrite, and lesser chalcopyrite, sphalerite and arsenopyrite) veins.
“The next steps at Cañada Honda include further drilling to test for shallow extensions in the east, where copper-gold soil geochemistry indicates the mineralization comes to surface, and further test a large gravity target that extends for two kilometers to the west.” Added Mr. Moody.
To find out more, please visit www.panglobalresources.com
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