PAN GLOBAL SAMPLES UP TO 24.3 G/T GOLD AND 16.2% COPPER IN SOILS AT THE CÁRMENES PROJECT, NORTHERN SPAIN
Pan Global Resources has announced significant sampling results from its 100%-owned Cármenes Project in northern Spain. The company's soil and rock sampling program at the Providencia target revealed exceptional grades, including up to 24.3 g/t gold and 16.2% copper, along with significant nickel, cobalt, and other metals.
The initial exploration program included 1,089 soil samples over a 1.8km x 1.5km survey area. Detailed follow-up sampling at Providencia identified a 250m x 150m anomaly with 49 samples averaging 5.8 g/t gold. Rock samples confirmed mineralization with values up to 10.5 g/t Au and 48.1% Cu.
The company plans to commence its first-ever drilling at Providencia in January 2025, with results expected in March. A helicopter electromagnetic survey is also in progress to identify new targets across the project area.
Pan Global Resources ha annunciato risultati significativi di campionamento dal suo progetto Cármenes, di proprietà al 100%, situato nel nord della Spagna. Il programma di campionamento del suolo e delle rocce dell'azienda presso il target Providencia ha rivelato gradi eccezionali, con punte di 24.3 g/t di oro e 16.2% di rame, insieme a significative quantità di nichel, cobalto e altri metalli.
Il programma di esplorazione iniziale ha incluso 1.089 campioni di suolo su un'area di indagine di 1.8 km x 1.5 km. Campionamenti di follow-up dettagliati a Providencia hanno identificato un anomalie di 250m x 150m con 49 campioni che hanno una media di 5.8 g/t di oro. I campioni di roccia hanno confermato la mineralizzazione con valori fino a 10.5 g/t Au e 48.1% di Cu.
L'azienda prevede di iniziare il suo primo programma di perforazione a Providencia nel gennaio 2025, con i risultati attesi per marzo. È in corso anche un'indagine elettromagnetica con elicottero per identificare nuovi obiettivi nell'area del progetto.
Pan Global Resources ha anunciado resultados de muestreo significativos de su Proyecto Cármenes, de propiedad al 100%, en el norte de España. El programa de muestreo de suelo y roca de la empresa en el objetivo Providencia reveló grados excepcionales, incluyendo hasta 24.3 g/t de oro y 16.2% de cobre, junto con cantidades significativas de níquel, cobalto y otros metales.
El programa de exploración inicial incluido 1,089 muestras de suelo en un área de estudio de 1.8 km x 1.5 km. El muestreo detallado de seguimiento en Providencia identificó una anomalía de 250m x 150m con 49 muestras que promediaron 5.8 g/t de oro. Las muestras de roca confirmaron la mineralización con valores de hasta 10.5 g/t Au y 48.1% de Cu.
La empresa planea comenzar su primera perforación en Providencia en enero de 2025, con resultados esperados para marzo. También se está llevando a cabo un estudio electromagnético con helicóptero para identificar nuevos objetivos en el área del proyecto.
팬 글로벌 리소스가 스페인 북부에 위치한 Cármenes 프로젝트의 100% 소유권에서 중요한 샘플링 결과를 발표했습니다. 회사의 Providencia 대상에 대한 토양 및 암석 샘플링 프로그램은 24.3 g/t 금과 16.2% 구리를 포함한 뛰어난 등급을 보여주었으며, 상당한 양의 니켈, 코발트 및 기타 금속도 발견되었습니다.
초기 탐사 프로그램에는 1.8km x 1.5km 조사 지역에서 1,089 개의 토양 샘플이 포함되었습니다. Providencia에서 진행한 세부 후속 샘플링에서는 49개의 샘플이 평균 5.8 g/t 금을 나타낸 250m x 150m 비정상을 식별했습니다. 암석 샘플 또한 최대 10.5 g/t Au 및 48.1% Cu의 가치를 가진 광물이 확인되었습니다.
회사는 2025년 1월에 Providencia에서 첫 번째 시추를 시작할 계획이며, 결과는 3월에 예상됩니다. 또한 새로운 목표를 식별하기 위한 헬리콥터 전자기 조사도 진행 중입니다.
Pan Global Resources a annoncé des résultats de prélèvements significatifs de son projet Cármenes, détenu à 100%, dans le nord de l'Espagne. Le programme d'échantillonnage des sols et des roches de l'entreprise sur la cible Providencia a révélé des qualités exceptionnelles, notamment allant jusqu'à 24.3 g/t d'or et 16.2% de cuivre, ainsi que des quantités significatives de nickel, de cobalt et d'autres métaux.
Le programme d'exploration initial a inclus 1 089 échantillons de sol sur une zone d'enquête de 1,8 km x 1,5 km. Des prélèvements de suivi détaillés à Providencia ont identifié une anomalie de 250m x 150m avec 49 échantillons ayant une moyenne de 5,8 g/t d'or. Les échantillons de roche ont confirmé la minéralisation avec des valeurs allant jusqu'à 10,5 g/t Au et 48,1% Cu.
L'entreprise prévoit de débuter son tout premier forage à Providencia en janvier 2025, les résultats étant attendus en mars. Une enquête électromagnétique par hélicoptère est également en cours pour identifier de nouveaux objectifs dans la zone du projet.
Pan Global Resources hat bedeutende Probenahmergebnisse aus ihrem 100%-Eigenen Projekt Cármenes im Norden Spaniens bekannt gegeben. Das Boden- und Gesteinssampling-Programm des Unternehmens am Ziel Providencia ergab außergewöhnliche Gehalte von bis zu 24,3 g/t Gold und 16,2% Kupfer, sowie signifikante Mengen an Nickel, Kobalt und anderen Metallen.
Das anfängliche Explorationsprogramm umfasste 1.089 Bodenproben über ein 1,8 km x 1,5 km großes Untersuchungsgebiet. Detaillierte Nachprobenahme in Providencia identifizierte eine 250m x 150m Anomalie mit 49 Proben, die im Durchschnitt 5,8 g/t Gold ergaben. Gesteinsproben bestätigten die Mineralisierung mit Werten von bis zu 10,5 g/t Au und 48,1% Cu.
Das Unternehmen plant, im Januar 2025 seine erste Bohrung in Providencia zu starten, mit Ergebnissen, die im März erwartet werden. Eine helikoptergestützte elektromagnetische Untersuchung ist ebenfalls im Gange, um neue Ziele im Projektgebiet zu identifizieren.
- High-grade sampling results: up to 24.3 g/t Au and 16.2% Cu in soils
- Large mineralization footprint: 250m x 150m anomaly identified
- Strong multi-metal presence including Au, Cu, Ni, Co, Pb, Ag, and Pt+Pd
- First-ever drilling program to commence in January 2025
- 100% ownership of the project
- No historical drilling data available to confirm depth potential
- No historical records of gold extraction at the project
TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU
- Preparations underway for maiden drill program at Cármenes Project
- Providencia soil sampling confirms target over 250m x 150m extending beyond past mine workings
- Assays up to 24.3g/t Au,
16.2% Cu,1.3% Ni, 48.7g/t Ag,1.1% Co,1.6% Pb, and 2.3g/t Pt + Pd - Higher gold zone with 49 samples averaging 5.8 g/t Au
- Providencia surface rock samples grading up to 10.6 g/t Au,
48.1% Cu,2.0% Ni,1.1% Co, 33.7g/t Ag,1.6% Pb
"The new high-grade copper, gold and other metals results from Cármenes are very encouraging. The initial soil and rock geochemistry results indicate the footprint of the Providencia breccia pipe mineralization is much larger than previously known, and shows significant gold potential. The grades detected in the soil samples are exceptional, including assays up to 24.3 grams-per-tonne (g/t) gold, and percent levels of copper, nickel, and lead. The rock samples confirm mineralization in outcrop," said Tim Moody, Pan Global President and CEO.
"Our team is eagerly awaiting the results of additional trench and channel sampling completed at the Providencia target, and underground sampling at the Profunda target. The potential exists for the discovery of addition breccia pipes in proximity to Providencia and other target areas. Two drill rigs are now operating in the Company's Escacena Project and a third rig will commence the first ever drillhole within the coming days at Providencia."
Highlights:
- A total of 1,089 first pass soil samples were collected as part of the maiden exploration program at Cármenes on a 100m x 40m grid over a 1.8km x 1.5km survey area and analyzed in the field by portable X-ray fluorescence (pXRF).
- The pXRF survey results confirmed prominent copper anomalies over the historical Providencia and Profunda mine areas, and multiple other untested copper anomalies and indicators for the discovery of additional mineralization.
- The Providencia and Profunda targets are carbonate-hosted "pipe-like" breccia style mineralization previously mined for copper, nickel, and cobalt.
- Numerous mine/exploratory workings found during recent mapping and prospecting, including previously unrecorded tunnels and shafts, highlight additional mineral potential.
- Detailed follow-up soil sampling at the Providencia target was completed and samples submitted for laboratory analysis. A total of 203 samples were collected on a nominal 50m x 20m grid over an area 450m x 250m. Results include:
- A new coherent soil geochemistry anomaly area of 250m x 150m, with coincident highly anomalous gold, copper, nickel, cobalt, lead, silver, platinum and palladium, associated with strong dolomitic alteration, breccia, and gossan.
- Soil anomaly includes 49 samples with >1.0g/t Au, averaging 5.8g/t Au, with the highest-grade assays concentrated east of the Providencia mine workings.
- Highest individual soil sample assays up to 24.3g/t Au,
16.2% Cu,1.3% Ni,1.1% Co,1.6% Pb, 48.7g/t Ag and 2.3g/t Pt + Pd.
- A total of 45 rock samples collected in the Providencia target area, including outcrop, float, and mine dump material, returned assays up to 10.5g/t Au,
48.1% Cu,2.0% Ni,1.1% Co, 33.0g/t Ag,1.6% Pb confirms that mineralization from surface continues east of the main Providencia mine workings in outcrop. - There are no historical records of gold extraction at Cármenes.
Next Steps
- Results are pending for surface trench samples and channel sampling in two historical galleries/tunnels in the new multi-metal soil geochemistry anomaly area at the Providencia target.
- The first drillhole at Providencia is planned to commence in January, initially testing for continuation of the mineralization beneath the main underground mine workings, with results potentially available in March. No previous drilling has been completed in the Providencia target area.
- Detailed follow-up of the Profunda target is also underway, and results are pending for channel sampling within the former underground mine workings.
- A Helicopter Transient Electro-Magnetic (HTEM), magnetic and radiometric survey is in progress over the entire Cármenes Project area to fast-track identification and prioritization of new targets for future detailed follow-up.
The Company will host an investor webcast on Thursday, January 30 to discuss the Cármenes results as well as the 2025 drill campaigns at the Escacena and Cármenes Projects. See registration instructions at the end of this release.
Soil sample results for pXRF copper are provided in Figure 1 below, and the Providencia Target close-spaced laboratory soil sample results for gold, copper, nickel, cobalt and lead are provided in Figures 2 to 6. Rock sample results from Providencia for gold and copper are provided in Figures 8 and 9.
Investor webcast:
The Company will host an investor webcast with CEO Tim Moody on Thursday, January 30, 2025 at 1 p.m. Eastern Time / 10 a.m. Pacific Time to discuss the 2025 plans for the Escacena and Cármenes Projects and provide an update on the ongoing work. A Q&A session will follow a short presentation. Please register in advance:
https://us06web.zoom.us/webinar/register/WN_LRlnhakUQvaAnMyT4Tpvnw
About the Cármenes Project
The Cármenes Project is located approx. 55km north of León in northern
About Pan Global Resources
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
Qualified Persons
Álvaro Merino, 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. Merino is not independent of the Company.
QA/QC
Rock samples delivered to the ALS sample preparation facility in
The first pass soil geochemistry survey includes samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a 100m x 40m grid and follow-up/infill sampling was tightened to 50m x 20m. The samples are collected in plastic bags, and a multi-element analysis is obtained using an Olympus Vanta hand-held x-ray fluorescence ("pXRF") device. Analyses are repeated on 1 per 20 samples, and standards analyzed to check and compare against pXRF results. Additionally, closer-spaced infill samples over the Providencia area were also sent to the ALS laboratory in
Soil samples delivered to the ALS sample preparation facility in
Forward-looking statements
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.
FAQ
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