Developing High-Grade Copper and Polymetallic Deposits in Spain
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Pan Global Resources (TSXV:PGZ,OTC:PGNRF) is a junior resource company in pursuit of base and precious metals projects in Spain. The company’s flagship Escacena project is located in southern Spain’s Iberian Pyrite Belt, a world-class volcanogenic massive sulfide (VMS) district that hosts at least nine giant VMS ore deposits (>100 million tonnes) and several operating mines.
Pan Global’s land package in the Iberian Pyrite Belt totals approximately 5,760 hectares and lies directly adjacent to the Aznalcollar (>70 million tonnes) and Los Frailes (>90 million tonnes) deposits. The Escacena project is also located only 12 kilometers from the active Cobre Las Cruces mine (42 million tonnes at 2.95% copper) which has been mining grades of more than 5% copper in the open pit. Pan Global is currently focusing on two targets at Escacena, the La Romana massive sulfide copper deposit and the Cañada Honda gravity anomaly. Recent drill results at the La Romana target have returned high multi-metal (copper, tin, silver, zinc) grades from near surface with every hole hitting mineralization indicating the potential for a large size deposit. Escacena’s exceptional land position, great infrastructure and multiple large untested targets make it an exciting prospect for the company.
Pan Global Resources Project Location and Infrastructure Map – Southern Spain
Pan Global has been exploring the Aguilas project since 2017 which comprises more than 16,000 hectares in northern Andalucia, Spain. The Aguilas project contains several major faults and breccia structures with indications of hematite-dominant iron oxide copper-gold (IOCG) and polymetalic lead-zinc-silver mineralization.
Pan Global Resources’ Company Highlights
- Pan Global’s exploration activities are focused in the mining friendly jurisdiction of Andalucia, Spain
- Flagship Escacena project is located in Spain’s Iberian Pyrite Belt, a world-class VMS district host to at least 9 ore deposits and several operating mines
- Iberian Pyrite Belt hosts several exploration and mining companies, such as Lundin, Grupo Mexico, First Quantum, Trafigura, Mubadala, Atalaya and juniors including Avrupra Minerals, Ascendant Resources and Emerita Resources
- Escacena project includes the recent La Romana copper-tin-silver discovery and several other large untested targets
- Escacena project is located adjacent to the Aznalcollar-Los Frailes mines and only 12 kilometers from the active Cobre Las Cruces mine, one of the highest grade open pit copper mines in the world
Aguilas project has returned high-grade drill intervals up to 16.85 % lead, 1.9 % zinc and 85 g/t silver - Pan Global’s strong management team has a track record of discoveries in Spain and brings decades of resource industry experience and expertise to the company
Pan Global Resources’ Escacena Project
In June 2017, Pan Global Resources acquired the Escacena project. The project hosts two large gravity anomalies, La Romana and Cañada Honda. Historical wide-spaced drilling at the La Romana gravity anomaly confirmed massive sulfide and stockwork mineralization including a best drill interval of 4.68 meters at 2.94 percent copper.
Exploration
Pan Global Resources began its initial exploration of the Escacena project in early 2019, including gravity, induced polarity (IP) and geochemical surveys. The results of this initial exploration work confirmed the La Romana and Cañada Honda gravity targets, allowing the company to move forward with drilling.
Pan Global Resources commenced drilling in July 2019, testing shallow IP targets previously identified at the La Romana and Cañada Honda targets. This included two drill holes at La Romana and one drill hole at Cañada Honda, totaling 547 meters. Channel sampling of the Cañada Honda mine tunnel at the Escacena project returned 26 meters at 0.43 g/t gold and up to 2.91 g/t gold and 0.39 percent copper.
In October 2019, Pan Global announced the results of its first two drill holes at Escacena testing the La Romana target, including discovery drill hole LRD-02 at La Romana with 20.55m at 1.5% copper equivalent. Both drill holes LRD-01 and LRD-02 intersected shallow volcanic-associated copper stockwork,…
Read More: Pan Global Resources (TSXV:PGZ) Investor Overview
