Investors are beginning to understand that capital spending in copper needs to continue at a similar pace as 2022-23 to fill potential deficits in the market towards decade-end. The aggressive drilling announced by Pan Global has enormous potential to make this company a target for majors. This is a buy signal for Pan Global Resources at this low market cap.
Pan Global Resources Inc. has commenced drilling at the Zarcita and Bravo Norte volcanogenic massive sulphide (VMS) targets at the company's 100-per-cent-owned Escacena project in the Iberian pyrite belt, southern Spain. This is the first time these two priority targets have been drill tested. Tim Moody, Pan Global president and chief executive officer, states: "Zarcita is a significant high-priority, 2.5-kilometre-long target defined by historic mine workings, soil copper geochemistry, host rock alteration and geophysical anomalies indicative of potential for copper mineralization. Bravo Norte is a large coincident gravity and induced polarization (IP) anomaly. Zarcita and Bravo Norte are both within five km of our La Romana copper-tin discovery and the neighbouring historic Aznalcollar open-pit mine. We are very pleased that drilling is now under way at these compelling targets. A third drill rig has also been added and we expect the ongoing systematic exploration will continue to generate more drill targets. Results are also anticipated in the next few weeks from the initial drilling at the La Jarosa, Hornitos and Pilar targets." The planned drill holes are part of a 20,000-metre multi-target program exploring for volcanogenic massive sulphide-associated deposits of copper and other metals (see news release dated Sept. 28, 2022).
PAN GLOBAL ADDS THIRD DRILL RIG AND COMMENCES DRILLING ON TWO NEW COPPER TARGETS AT THE ESCACENA PROJECT, SPAIN
IWA has an ongoing consulting contract for investor relations with Pan Global Resources and is also a shareholder.
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