Pan Global Resources Inc. (“Pan Global” or the “Company”) (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased to announce that drilling has commenced at the Bravo target at the Company’s 100%-owned copper, tin, gold, silver Escacena Project (“Escacena”), in southern Spain. Bravo is located 1km east and on-trend from the Company’s La Romana copper-tin-silver discovery, and 3.5km southwest of Grupo México’s (Minera Los Frailes) Aznalcóllar-Los Frailes mining project. The first phase of drilling is expected to be completed by mid-year.
“The geophysics at Bravo shows many of the signatures associated with the Company’s nearby La Romana copper-tin-silver discovery, enhancing the potential for mineralization. Based on its size and location, Bravo is a high-priority target amongst several previously untested targets in this highly prospective area for significant volcanogenic massive sulphide (“VMS”) associated mineralization. After several months of diligent fieldwork, we are excited that drilling has now commenced,” said Tim Moody, Pan Global’s President and CEO.
The recently completed 18.2-line-km IP geophysics survey identified chargeability and resistivity anomalies coincident with the Bravo gravity anomaly. These results indicate potential extensions or repetitions of the geology trend hosting the La Romana mineralization 1km to the west of Bravo. The IP survey results have been integrated with modelling of the Company’s detailed gravity, soil geochemistry, and helicopter electromagnetics survey data to prioritize drill targets.
The first phase of drilling at Bravo will include up to eight wide-spaced drillholes to test for VMS mineralization associated with geophysics and geochemistry anomalies. The drilling will also test a very strong IP-chargeability anomaly 500m south of the main Bravo gravity anomaly on the interpreted continuation of the La Romana mineralization trend. Results from the first phase drill program will be released as they become available. Subject to results, the current planned 7,000m multi-target drill program at the Escacena Project may be expanded.
