TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
- First assay results for drillholes testing area of breccia-hosted gold mineralization east of the historical Providencia mine workings at 100%-owned Cármenes Project
- Assays pending for hole drilled beneath surface trench with 20m of 1.7g/t gold
- Potential to expand the high-grade copper, cobalt, nickel sulphide breccia at the historical mine workings
- Multiple untested targets within Cármenes Project area
- Drilling at the flagship Escacena Project continuing at La Romana target and set to resume shortly at Bravo target
VANCOUVER, BC, Sept. 9, 2025 /PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce significant near surface gold assay results from its maiden drill program at the Providencia target, in the Company's 100%-owned Cármenes Project ("Cármenes"), northern Spain. The first drill results were reported on May 19, 2025 and June 18, 2025.The new drill results are the first holes targeting an area of anomalous gold mineralization east of the mine workings.
Drill Highlights:
- Assays received for two completed drillholes (PVD05 and PVD06)
- High-grade intercept in hole PVD06 (less-than 20m vertical below surface);
- 34.0m at 3.01 g/t Au from 131.0m (down-hole), including
- 5.0m at 8.93 g/t Au from 131.0m
- 2.0m at 15.18 g/t Au, 1.23 g/t Pt+Pd from 133.0m
- 4.7m at 5.65 g/t Au from 143.0m
- 2.0m at 7.15 g/t Au from 161.0m
- Highest grade assay of 17.6 g/t Au over 1m from 134.0m
- Drilling target area alongside and beneath a historical exploration tunnel where recent channel samples averaged 3.11 g/t gold over 37 meters
- Gold mineralization mainly host in red haematitic hydrothermal-altered brecciated carbonate rocks, with disseminated sulfides
- PVD06 extends gold zone up to 70m east of hole PVD02 (46m at 1.08 g/t Au), open east, west and at depth
- 34.0m at 3.01 g/t Au from 131.0m (down-hole), including
- PVD05 intersected dolomite breccia in the outer halo to the gold zone, confirming the alteration and breccia zonation model, but without significant results
- Assays pending for hole PVD07 drilled 50m east of hole PVD06, testing beneath a surface trench with 20m at 1.7 g/t Au
"The new results expand the near-surface breccia-hosted gold mineralization east of the historical mine workings and include the highest-grade gold intercept at Providencia to-date. These are the first drill results testing an area with highly anomalous gold-in-soil samples, trench and channel sampling results east of Providencia. The near surface gold mineralization intercepted in hole PVD06 extends to surface and is wide-open," said Tim Moody, Pan Global's President and CEO.
"Providencia represents a compelling discovery opportunity, including the potential to expand the high-grade copper, cobalt, nickel sulphide breccia at the historical mine and expand the newly discovered gold zone. The drill results reinforce our breccia alteration zonation model for targeting higher grade mineralization and help identify additional mineralization at the more than two dozen identified potential targets in the Cármenes Project."
Table 1 - Providencia Drill Results Summary
Drillhole | From | To | Interval1 | Au | Pt | Pd |
m | m | m | g/t | ppm | ppm | |
PVD06 | 131.0 | 165.0 | 34.0 | 3.01 | - | - |
including | 131.0 | 136.0 | 5.0 | 8.93 | - | - |
Including | 133.0 | 135.0 | 2.0 | 15.18 | 0.83 | 0.40 |
Including | 134.0 | 135.0 | 1.0 | 17.60 | 0.90 | 0.33 |
Including | 143.0 | 147.7 | 4.7 | 5.65 | - | - |
including | 161.0 | 163.0 | 2.0 | 7.15 | - | - |
PVD05 | No significant results | |||||
1 All intercepts are reported as downhole drill widths. There is insufficient drilling to constrain the geometry to determine true width. Includes 6m interval from 147.7m to 153.7m with poor core recovery, potentially resulting in some loss of higher-grade mineralization |
Table 2 -Drillhole Collar Information
Hole ID | Easting2 | Northing2 | Azimuth (º) | Dip (º) | Length (m) |
PVD05 | 287579 | 4761154 | 340 | -20 | 187.6 |
PVD06 | 287531 | 4761318 | 164 | -23 | 171.6 |
2 Coordinate system: UTM30N ERTS89 |
Escacena Project Drilling Update
Drilling is continuing at the Company's flagship Escacena Project in the Iberian Pyrite Belt in southern Spain, with one drill rig currently targeting expansion of the La Romana copper-tin-silver deposit. Results are pending for initial drillholes at Hornitos and Plomillos targets, and most recent drillholes at the Bravo target.
Drilling will resume shortly at the Bravo target after a detailed revision of the drill core and geophysics following completion of four drillholes (three holes were abandoned due to ground conditions). Sulphide minerals and/or associated alteration have been logged in holes BRD01, BRD02 and BRD04, including traces of disseminated/vein hosted sphalerite and galena in BRD04, consistent with outer parts of volcanogenic massive sulphide (VMS) systems. The results to-date indicate the source of the gravity and a strong IP chargeability anomaly have not yet been intersected, and potential remains for discovery of VMS mineralization. The review was designed to refine the positioning of the remaining two planned drillholes.
The maiden Mineral Resource Estimate for the La Romana deposit is on-track to commence in September for delivery in 2025.
About the Cármenes Project
The Cármenes Project is located approx. 55km north of León in northern Spain and comprises five Investigation Permits over 5,653 hectares. The Project area is highly prospective for multiple bodies or "clusters" of carbonate-hosted "pipe-like" breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight potential for additional breccia pipes. These types of ore deposits can have significant vertical dimensions exceeding 1km.
About the Escacena Project
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. Escacena is located near the operating mine at Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is in the final permitting stage for mine development. The Escacena Project hosts Pan Global's La Romana and La Pantoja copper-tin-silver discoveries and the Cañada Honda copper-gold discovery. Escacena hosts a number of other prospective targets, including Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company's flagship Escacena Project is located in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes in northern Spain, is also an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
To learn more about Pan Global Resources, please visit the Company's Curation Connect showcase and explore AI-generated responses to your enquiries at https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases
Qualified Persons
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
QA/QC
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 to 2m. Sample intervals were defined using geological contacts with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling was supervised at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples and Certified Reference materials inserted every 25 samples in each batch.
Samples were delivered to ALS laboratory in Seville, Spain and assayed at the ALS laboratory in Ireland. All samples were crushed and split (method CRU-31, SPL22Y), and pulverized using (method PUL-31). Gold, platinum and palladium analysis was by 50gm fire assay with ICP finish (method Au-ICP-24) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).
www.panglobalresources.com
Forward-looking statements
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. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. 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.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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.
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, jason@panglobalresources.com / investors@panglobalresources.com, Tel: +1-236-886-9518
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