PAN GLOBAL ONGOING DRILLING EXTENDS STRIKE OF LA ROMANA NEAR-SURFACE COPPER-TIN-SILVER MINERALIZATION TO 1.35 KILOMETERS
- The drilling extends the La Romana mineralization 150m to the west.
- Copper-tin grades are increasing to the west.
- The mineralization has good continuity and is suitable for potential open-pit mining.
- None.
TSXV: PGZ | OTCQX: PGZFF
- Romana West drilling extends La Romana mineralization 150m to the west
- Copper-tin grades increasing to the west
- Investor webcast with CEO Tim Moody to discuss results will be held on Wednesday, September 20, 2023 at 11 a.m. Eastern Time / 8 a.m. Pacific Time. Details at end of this release
- Copper and tin mineralization with good continuity starts immediately below a thin cover of sediments
- Moderately north-dipping tabular geometry ideally suited for potential open-pit mining
- High value tin grades increasing to the west
LRD162 intercepted 17m at0.65% CuEq1 (0.4% Cu0.13% Sn, 1.1 g/t Ag) from 50.0m, including 6m at1.24% CuEq1 (0.5% Cu,0.29% Sn, 1.5g/t Ag)LRD166 intercepted 14.5m at 0.75 % CuEq1 (0.36% Cu,0.15% Sn, 1.2 g/t Ag from 7.5m, including 5m at1.06% CuEq1 (0.48% Cu,0.21% Sn, 2.0 g/t Ag)LRD164 intercepted 16m at0.70% CuEq1 (0.52 % Cu, 0.06 % Sn, 1.6 g/t Ag) from 37.0m, including 3m at1.38% CuEq1 (1.06% Cu,0.11% Sn, 3.9 g/t Ag)- Mineralization remains wide open at depth and to the west
- Drilling ongoing with results pending from six additional completed drill holes with visual copper and tin mineralization
Drill hole locations are shown in Figure 1 below. Drill hole assay results are summarized in Table 1 and collar details are presented in Table 2 below.
"Drilling at Romana West commenced within weeks of being granted surface access. Twelve of our planned 25 drill holes have been completed and assay results for the first six are very encouraging. Our drill program has been highly successful, confirming continuity of the copper-tin-silver mineralization 150 meters to the west of the La Romana discovery. The overall strike length of La Romana is now 1.35 kilometers and is still open, with step-out drilling continuing farther to the west. Results to date show the potential for grades to increase to the west," said Tim Moody, President and CEO of Pan Global.
The Romana West mineralization occurs in two main layers, Zone B and Zone C, commencing directly below a thin cover of post mineral sediments. Sulphide mineralization was intersected in all holes at depths predicted from modelling of previous drilling and geology data. At shallow depths the primary sulphides, including chalcopyrite and pyrite, have been overprinted by supergene chalcocite and copper enrichment.
The assay results also include some of the highest tin grades reported in the Escacena project area, with assays up to
The ongoing drill program aims to test the near-surface La Romana mineralization a further 350m along strike to the west.
Figure 1 – Gravity anomaly map showing the Romana West and La Romana targets, drill hole locations with selected results, and cross-section locations A-A' (Figure 2) and B-B' (Figure 3).
Figure 2 – Cross section 736010m East, A-A', showing selected assay results highlights and copper grade shells for new drill holes
Figure 3 – Cross section 735900m East, B-B', showing selected highlights and copper grade shells for new drill holes
Hole ID | From | To | Interval | CuEq(1) | Cu | Sn | Ag | Au | Pb | Zn | True | |
m | m | m | % | % | % | g/t | g/t | ppm | ppm | (m) | ||
117.00 | 130.00 | 13.00 | 0.27 | 0.25 | 0.01 | 0.8 | 0.01 | 11 | 72 | 11.79 | ||
Including | 126.00 | 130.00 | 4.00 | 0.49 | 0.46 | 0.01 | 1.6 | 0.01 | 19 | 85 | 3.63 | |
and | 150.00 | 162.00 | 12.00 | 0.36 | 0.28 | 0.03 | 1.1 | 0.01 | 7 | 70 | 10.9 | |
Including | 150.00 | 156.00 | 6.00 | 0.60 | 0.47 | 0.05 | 1.9 | 0.01 | 12 | 79 | 5.44 | |
Including | 152.00 | 153.00 | 1.00 | 1.61 | 1.23 | 0.14 | 4.0 | 0.01 | 21 | 87 | 0.91 | |
50.00 | 67.00 | 17.00 | 0.65 | 0.30 | 0.13 | 1.1 | 0.01 | 49 | 81 | 17.00 | ||
Including | 52.00 | 58.00 | 6.00 | 1.24 | 0.47 | 0.29 | 1.5 | 0.01 | 19 | 75 | 6.00 | |
and | 95.00 | 109.15 | 14.15 | 0.27 | 0.18 | 0.03 | 0.6 | 0.02 | 10 | 64 | 14.15 | |
Including | 107.00 | 109.15 | 2.15 | 0.63 | 0.46 | 0.06 | 2.1 | 0.088 | 36 | 76 | 2.15 | |
and | 132.50 | 135.00 | 2.50 | 0.89 | 0.10 | 0.30 | <0.5 | 0.01 | 42 | 58 | 2.50 | |
Including | 134.00 | 135.00 | 1.00 | 1.64 | <0.01 | 0.62 | <0.5 | 0.01 | 6 | 47 | 1.00 | |
30.35 | 32.00 | 1.65 | 0.86 | 0.76 | 0.03 | 3.7 | <0.01 | 137 | 103 | 1.27 | ||
and | 60.00 | 72.00 | 12.00 | 0.31 | 0.25 | 0.02 | 2.2 | 0.01 | 80 | 142 | 9.20 | |
and | 122.00 | 126.00 | 4.00 | 0.29 | 0.23 | 0.02 | 0.5 | <0.01 | 3 | 50 | 3.07 | |
37.00 | 53.00 | 16.00 | 0.70 | 0.52 | 0.06 | 1.6 | 0.01 | 7 | 85 | 16.00 | ||
Including | 43.00 | 47.00 | 4.00 | 0.93 | 0.68 | 0.09 | 1.8 | 0.01 | 2 | 91 | 4.00 | |
Including | 49.00 | 52.00 | 3.00 | 1.38 | 1.06 | 0.11 | 3.9 | 0.02 | 16 | 78 | 3.00 | |
and | 87.00 | 91.00 | 4.00 | 0.66 | 0.52 | 0.05 | 0.8 | 0.02 | 3 | 51 | 4.00 | |
Including | 88.00 | 89.00 | 1.00 | 1.59 | 1.42 | 0.06 | 2.0 | 0.05 | 8 | 50 | 1.00 | |
86.25 | 87.70 | 1.45 | 0.64 | 0.36 | 0.10 | 1.2 | 0.01 | 5 | 87 | 1.24 | ||
and | 114.00 | 122.85 | 8.85 | 0.59 | 0.55 | 0.01 | 1.4 | 0.008 | 6 | 74 | 7.58 | |
Including | 119.00 | 122.85 | 3.85 | 1.08 | 1.04 | 0.013 | 2.7 | 0.013 | 10 | 80 | 3.3 | |
Including | 122.25 | 122.85 | 0.60 | 5.24 | 5.06 | 0.04 | 13.0 | 0.034 | 29 | 180 | 0.51 | |
7.50 | 22.00 | 14.50 | 0.75 | 0.36 | 0.15 | 1.2 | 0.012 | 25 | 129 | 13.30 | ||
including | 17.00 | 22.00 | 5.00 | 1.06 | 0.48 | 0.21 | 1.5 | 0.018 | 27 | 131 | 4.6 | |
and | 72.00 | 73.20 | 1.20 | 1.19 | 1.04 | 0.06 | 1.7 | 0.024 | 11 | 48 | 1.10 |
1 Copper Equivalent = CuEq. CuEq is calculated using Cu, Sn, and Ag grades. Metallurgical recoveries of |
Hole ID | Easting 2 | Northing 2 | Azimuth (o) | Dip(o) | Depth (m) |
736025.3 | 4152813 | 195 | -70 | 197.45 | |
735989.1 | 4152760 | 180 | -50 | 182.05 | |
735921.6 | 4152767 | 180 | -90 | 167.9 | |
735921.7 | 4152766 | 180 | -50 | 140.35 | |
735895.7 | 4152851 | 156 | -70 | 222.45 | |
736038.8 | 4152687 | 156 | -55 | 94.75 |
2 Coordinate system. UTM29N ERTS89 |
CEO Tim Moody will host a conference call and webcast on Wednesday, September 20, 2023, at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time to discuss the latest results at the Escacena Project. An open Q&A session will follow a short presentation.
Date: Wednesday, September 20, 2023
Time: 11:00 a.m. Eastern Time | 8:00 a.m. Pacific Time
Please register in advance: https://us06web.zoom.us/meeting/register/tZEtcumhrzsqE9XnLSo4hLpyYL7Nrdq-utim.
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 presentation. A link to the webcast 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
QA/QC Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 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 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
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/pan-global-ongoing-drilling-extends-strike-of-la-romana-near-surface-copper-tin-silver-mineralization-to-1-35-kilometers-301931601.html
SOURCE Pan Global Resources Inc.
FAQ
What is the company that made this announcement?
Where is the Romana West target located?
What are the key highlights of the assay results?
When will the investor webcast be held?
How can I register for the investor webcast?
