Pan Global Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - October 11, 2019) - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to provide an exploration update on its projects in Spain.
Gravity and geochemistry survey commenced at the Escacena project
Potentially significant down-hole EM conductors in recent drill holes at La Romana
Final drill results from the recent Escacena drilling expected soon
Drilling in progress on the large Torrubia North copper target in the Aguilas project
At the Escacena Project, a gravity and geochemistry survey has commenced on the Western half of the mineral rights. The survey is the first detailed systematic exploration of the area. Gravity readings will be collected on an irregular 200 x 200m grid covering approximately 1250 hectares. A soil sample will also be collected at each gravity station for multi-element geochemical analyses. The survey is targeting extensions of the prospective volcanic sequence for massive sulphide associated mineralization.
Preliminary interpretation of down-hole EM (DHEM) results from the recently completed drill program at the Escacena Project has highlighted two potentially significant conductor anomalies for follow-up at the La Romana target. This includes an untested 300m (horizontal) x 180m off-hole conductor plate anomaly approximately 50m beyond the end of hole LRD-01 and dipping moderately to the North. A weaker in-hole EM conductor plate is also evident at approximately 160m down-hole. Drill hole LRD-02 intersected the upper border of a shallow, 300m (horizontal) x 180m in-hole conductor plate anomaly, dipping approximately 35° North and commencing approximately 50m down-hole (approx. 30m below surface). The shallow conductor in LRD-02 is coincident with an IP chargeability and resistivity low anomaly.
Final assay results are awaited for the first round of drilling at Escacena, with results for one drill hole remaining. Two shallow diamond drill holes (LRD-01 and LRD-02) were completed at the La Romana gravity target and 1 hole (CHD-01) completed at the Cañada Honda target.
Drilling is progressing at the Torrubia North copper target in the Aguilas Project, with hole 2 of the planned 5 hole program nearing completion. Wide zones of strongly altered multi-stage breccia is evident in the drill core, locally including clasts with strong hematite alteration and chalcopyrite. These initial holes are testing a high priority soil copper anomaly extending over 1.9km of strike length and up to 0.35km width, with up to 8.4% Cu in rock grab samples of boulders, up to 1.2% Cu in outcrop. Indications of Iron Oxide Copper Gold ("IOCG") style mineralization and multi-stage breccia, plus small ancient mine works occur along the target.
Qualified Person
Robert Baxter (FAusIMM), a Director of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Baxter is not independent of the Company.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain and is pursuing opportunities from exploration through to mine development. The Company is committed to operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
www.panglobalresources.com.
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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. 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.
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