PAN GLOBAL COMMENCES EXPLORATION AT HIGH-PRIORITY BRAVO TARGET IN THE ESCACENA PROJECT, SOUTHERN SPAIN
TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU
- Bravo is a large, untested gravity anomaly representing potential massive sulphide
- 1.5km along-trend from Pan Global's La Romana copper-tin-silver discovery
- 4.5km southwest of the Grupo México controlled Aznalcóllar and Los Frailes volcanogenic massive sulphide deposits
VANCOUVER, BC, July 23, 2024 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased to announce the commencement of the maiden exploration program over the Bravo target ("Bravo") within the Company's 100%-owned Escacena Project ("Escacena") in the Iberian Pyrite Belt, southern Spain.
"Bravo is one of the highest priority exploration targets in the Pan Global portfolio due to the large size of the gravity anomaly and being on-trend only 1.5km from the Company's La Romana copper-tin-silver discovery. Gravity anomalies are coincident with the La Romana mineralization (discovered by Pan Global in 2019) and both the nearby Aznalcóllar-Los Frailes (copper, lead, zinc) and Las Cruces (copper) deposits. The soil geochemistry and geophysical surveys now underway at Bravo will guide future drilling and represent the first ground-based exploration in the target area since the early 1980's," said Tim Moody, Pan Global's President & CEO.
Bravo is a prominent 2km x 1.2km gravity anomaly located 1.5km east of Pan Global's La Romana copper-tin-silver discovery and 4.5km southwest of the Aznalcóllar volcanogenic massive sulphide (VMS) deposit. The Bravo anomaly was originally identified from early-1980's gravity survey data and interpreted as potential concealed massive sulphide mineralization. The target is mostly covered by post-mineral rocks and sediments and has never been drill tested.
Planned exploration includes an initial 100m x 50m gravity survey, soil sample geochemistry, geological mapping and 200m line-spaced dipole-dipole Induced Polarization (IP) surveys. These surveys are expected to be completed within three-months and will guide future drill testing of the Bravo target.
Pan Global looks forward to updating shareholders as the Bravo exploration program progresses in the coming weeks.
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, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo.
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.
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.
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.
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, [email protected], [email protected], Tel: +1-778-372-7101, +1-236-886-9518
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