PAN GLOBAL DELIVERS MORE ADVANCED GEOLOGY PAN GLOBAL INTERSECTS WIDE ZONE OF COPPER-STOCKWORK MINERALIZATION AT ZARCITA AND REPORTS DRILL RESULTS FROM MULTIPLE TARGETS
Pan Global Resources Inc. has released assay results for 21 drill holes targeting volcanogenic massive sulphide (VMS) copper and polymetallic mineralization at the 100-per-cent-owned Escacena project in the Iberian pyrite belt (IPB), southern Spain. The drill holes were all completed in 2022 and provide the first tests of the Zarcita, Hornitos, La Jarosa, Pilar and Bravo Norte targets. Pan Global's 2023 exploration program in Spain includes a 20,000-metre multitarget drill program with an estimated budget of $8.5-million. "Pan Global is highly encouraged by the drill results with copper and/or zinc mineralization intersected in three of the five new targets tested in the Escacena project area," said Tim Moody, president and chief executive officer. "At Zarcita, the first four completed drill holes have all intersected copper mineralization within a 75-metre-thick pyrite-chalcopyrite stockwork associated with strong chlorite alteration, including bands of semi-massive to massive sulphide. The copper mineralization at Zarcita continues from surface to more than 400 m down dip and is open in all directions. The combination of stockwork mineralization together with strong chlorite alteration are excellent indicators of proximity to major VMS ore deposits in the IPB. "In addition, copper-zinc mineralization intersected at the La Jarosa target is within a potential structural repetition of the same host rocks at the nearby Aznalcollar and Los Frailes VMS deposits and promising near-surface VMS-associated zinc-lead mineralization was identified at the Hornitos target. The company maintains a strong cash position and is fully funded for another 20,000-metre drill program in 2023." Continue Reading
IWA has an ongoing consulting contract for investor relations with Pan Global Resources and is also a shareholder.
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