Pan Global Resources23 Feb 2021 14:54
Pan Global Reports New Drill Results and Extends High Grade Copper at La Romana, Southern Spain
Continued high-grade intercepts including 18m at 1.0% Cu eq, 6m at 2.44% Cu eq, 10.6m at 1.55% Cu eq and 10.35m at 1.23% Cu eq
Exceptionally high-grade massive sulfide with up to 17.05% Cu, 0.16% Co, 42.7g/t Ag, 0.22g/t Au (18.7% Cu eq) over 0.43m
Thick copper, tin, silver intervals to within 0.5m from surface, including 67.5m at 0.54% Cu eq and 50.1m at 0.50% Cu eq extending the open pit target which remains open in several directions
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2021) - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to report results for an additional five drill holes (LRD21, LRD22, LRD24, LRD25 and LRD27) from the Phase 3 drill program completed in 2020 at the La Romana target, in the Escacena Project. The Phase 4 drill program is also underway, with six additional holes completed and results pending. La Romana is located approximately 6km southwest of the former Aznalcollar open pit mine and approximately 15km west of the Las Cruces copper mine, in the Iberian Pyrite Belt, southern Spain.
Tim Moody, Pan Global President and CEO states: "The new results confirm continuity of the near surface copper mineralization to within 0.5m depth from surface and increasing in thickness to the east. This near surface thick mineralization has now been intercepted over a strike extent of over approximately 500m and is still wide open.
"The results also provide continued confirmation of extensions of the deeper high-grade massive chalcopyrite mineralization in the northeast, including the highest copper assays reported to-date at La Romana with assay values up to 17.05% Cu, 0.16% Co, 42.7g/t Ag, 0.22g/t Au. The copper mineralization corresponds strongly with the IP and down-hole EM geophysics and indicates excellent potential to significantly extend the mineralization in all directions."
Mr. Moody added: "Assay results are pending for drill holes LRD26 and LRD28 from Phase 3 and the Phase 4 drill program is advancing quickly with an additional six drill holes already completed (LRD29 to LRD34) and showing visible copper mineralization."
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