Vancouver, British Columbia--(Newsfile Corp. - May 24, 2019) - Pan Global Resources Inc. (TSXV: PGZ) (OTC: PGNRF) (the "Company") is pleased to announce it has secured access to the Torrubia copper target in the Aguilas Project, Spain. This provides access to approximately 1.9km of strike with the widest and strongest soil copper geochemistry in the North of the Torrubia trend, with rock grab samples up to 8.4% Cu in boulders and 1.2% Cu in outcrop. An initial 5 drill holes are planned.
Tim Moody, President and CEO of Pan Global Resources commented: "The company is pleased to have resolved access with the landowner to the highest priority part of the Torrubia copper target. The recently completed drilling shows copper increasing towards this area associated with IOCG breccia style mineralization. We look forward to drilling the target in 2019."
Exploration by the company in 2017 and 2018, defined a 3.1 x 0.3 km soil copper anomaly with up to 0.67% Cu in the North of the Torrubia trend. Boulders and outcrop with multi-percent levels of copper and evidence of ancient mine workings along the trend. The Northern 1.9 km of the soil copper anomaly includes the widest and strongest part of the copper target (Figure 1) and has not been tested whilst access to the area was being negotiated with the landowner. Drill hole TOR-001, immediately to the south contained 16m @ 0.30% Cu, 30.5ppm Co, 0.6 g/t Ag, 0.05 g/t Au, including 0.8m @ 2.65% and 0.7m @ 2.05% Cu. The drilling indicates copper increasing to the North into the area where access has now been secured.
The company has planned an initial 5 drill holes in the area where access has now been granted. Preparations for drilling will commence in the coming weeks.
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
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Figure 1 - Torrubia Copper Target and proposed drill holes.
To view an enhanced version of Figure 1, please visit:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45023