TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU
- Bravo target IP survey completed: Drilling to commence within
two weeks
- Six drillholes completed in current program at Escacena,
including new targets and step-out holes at La Romana discovery:
assays awaited
- Multiple Escacena geophysical targets remain to be tested
VANCOUVER, BC, Feb. 20,
2025 /CNW/ - Pan Global Resources Inc. ("Pan
Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is
pleased to provide an update on exploration activities at the
Company's 100%-owned copper, tin, gold, silver Escacena Project
("Escacena") in southern Spain.
"Pan Global has made good progress on the 2025 multi-target
drill program at the Escacena Project. This includes three
step-out drillholes completed on the west extension of the La
Romana near-surface mineralization for inclusion in the maiden
mineral resource estimate. Drillholes have also been completed at
three new targets, and two drill rigs are currently turning at the
Project," said Tim Moody, Pan
Global's President and CEO. "The first assay results from these
drillholes are expected to start being received in approximately
three weeks."
At the high-priority Bravo target, the planned Induced
Polarization (IP) survey has been completed following several
weather interruptions. The IP survey results are currently being
integrated with the electromagnetic, gravity, and soil geochemistry
data to finalize drillhole locations. Drilling is expected to
commence at the Bravo target within two weeks.
The 2025 plan includes up to 30 drillholes / 7,000 m, aimed at delineating the western extent
of the near-surface La Romana copper-tin-silver mineralization and
testing at least five new targets at Escacena as well as two
targets at the Cármenes Project in northern Spain to help discover additional
mineralization. The current drill program is on-track for
completion by mid-year. Additional targets are also being advanced
and prioritized for future drill testing.
About the Escacena Project
The Escacena Project comprises a large, contiguous,
5,760-hectare land package controlled 100% by Pan Global in the
east of the Iberian Pyrite Belt. Escacena is located near the
operating mine at Riotinto and is immediately adjacent to the
former Aznalcóllar and Los Frailes mines where Minera Los
Frailes/Grupo México is in the final permitting stage to allow new
mine construction to commence. The Escacena Project hosts Pan
Global's La Romana copper-tin-silver and Cañada Honda copper-gold
discoveries, and a number of other prospective targets, including,
Bravo, Barbacena, La Pantoja, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La
Jarosa, Romana Deep, and Cortijo. A
longer-term goal is to define 100 million tonnes of copper
resources from a cluster of deposits in the Project area,
comparable to other mine operations in the Iberian Pyrite Belt.
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 Spain, where a favourable permitting track
record, excellent infrastructure, mining and professional
expertise, and support for copper as a Strategic Raw Material by
the European Commission collectively define a tier-one low-risk
jurisdiction for mining investment. The Pan Global team comprises
proven talent in exploration, discovery, development, and mine
operations - all of which are committed to operating safely and
with utmost respect for the environment and our partnered
communities. The Company is a member, and operates under the
principles, of the United Nations Global Compact.
www.panglobalresources.com
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.
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.
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SOURCE Pan Global Resources Inc.
