PAN GLOBAL DRILLS 1.48% COPPER, 0.65 G/T GOLD, 7.2G/T SILVER OVER 6.8M AND 2.63 G/T GOLD OVER 8.0 METERS AT CAÑADA HONDA, SPAIN
- None.
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- Strong potential to expand mineralization to the east and west
- Gravity target at Cañada Honda extends over 2 kilometers
- Investor webcast with CEO Tim Moody to discuss results will be held on Friday, January 12, 2024 at 1 p.m. Eastern Time / 10 a.m. Pacific Time. Details at end of this release
Highlights:
- Drillhole CHD08
- 8m at
0.12% Cu, 2.63g/t Au, 0.7g/t Ag from 178m, including- 1.35m at
0.68% Cu, 12.4g/t Au, 3.1g/t Ag,0.09% Co, and
- 1.35m at
- 14m at
0.77% Cu, 0.42g/t Au, 4.0g/t Ag from 199m, including- 6.8m at
1.48% Cu, 0.65g/t Au, 7.2g/t Ag
- 6.8m at
- Includes massive sulfide mineralization with assays up to
4.76% Cu, 2.12g/t Au, 26.1g/t Ag and0.9% Zn over 1m from 207.8m
- 8m at
- Drilling confirms that copper and gold mineralization is coincident with downhole electromagnetic (DHEM) targets, and remains open
- Potential to significantly expand the mineralization at Cañada Honda with further drill testing of a large (2km x 0.5km) gravity anomaly and extensions to DHEM targets.
"These are the highest-grade drill intercepts to-date at Cañada Honda, and a very encouraging start to the follow-up drill program that commenced in November 2023. There is excellent potential to expand the copper and gold mineralization and identify areas of higher grade at this new discovery," said Tim Moody, President and CEO of Pan Global.
"Successful drilling of geophysics targets at La Romana and Cañada Honda underscores the prospect of further discoveries among the numerous other targets in the Escacena Project."
Drillhole locations are shown in Figure 1 below. Drillhole assay results are summarized in Table 1 and drillhole collar details are presented in Table 2 below.
Table 1 – Cañada Honda Selected Drill Results
Hole ID | From | To | Interval1 | Cu | Au | Ag | Co | Pb | Zn |
m | m | m | % | g/t | g/t | ppm | ppm | ppm | |
CHD08 | 178.00 | 186.00 | 8.00 | 0.12 | 2.63 | 0.7 | 257 | 12 | 70 |
incl. | 183.65 | 185.00 | 1.35 | 0.68 | 12.4 | 3.1 | 930 | 55 | 259 |
and | 199.00 | 213.00 | 14.00 | 0.77 | 0.42 | 4.0 | 207 | 136 | 1026 |
incl. | 203.00 | 209.80 | 6.80 | 1.48 | 0.65 | 7.2 | 225 | 200 | 1730 |
incl. | 206.90 | 209.80 | 2.90 | 2.71 | 1.39 | 14.4 | 334 | 435 | 3898 |
incl. | 207.80 | 208.80 | 1.00 | 4.76 | 2.12 | 26.1 | 622 | 743 | 9000 |
1 Approximate true thickness |
Table 2 – Cañada Honda Drillhole Collar Information
Hole ID | Easting 2 | Northing 2 | Azimuth (o) | Dip (o) | Length (m) |
CHD08 | 737281 | 4156407 | 180 | -60 | 334.8 |
2 Coordinate system: UTM29N ERTS89 |
Results from additional Cañada Honda drill holes will be released as soon as they are received.
Investor Call to Discuss Drill Results and Expanding La Romana
CEO Tim Moody will host a conference call and webcast on Friday, January 12, 2024, at 1:00 p.m. Eastern Time / 10:00 a.m. Pacific Time to discuss the latest results at the Escacena Project. A Q&A session will follow a short presentation.
Date: Friday, January 12, 2024
Time: 1:00 p.m. Eastern Time | 10:00 a.m. Pacific Time
Please register in advance: https://us06web.zoom.us/meeting/register/tZUscu2upzsqHtJnPxMbrlvySGcAa39j5uAJ
After registering, you will receive a confirmation email containing information about joining the meeting. Investors are encouraged to send questions or topics of interest in advance to investors@panglobalresources.com to be addressed following the webcast presentation. A link to the webcast recording will be available on the Company's website at https://panglobalresources.com following the live broadcast.
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 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
James Royall, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Royall is not independent of the Company.
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 media 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 media release is based on information available to the Company as of the date of this media 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.
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SOURCE Pan Global Resources Inc.
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