Pan Global Resources (TSXV:PGZ) Begins Drilling at Romana Deep Target at Escacena Project, Southern Spain

Figure 1 – Escacena Project gravity anomaly map highlighting the priority targets, including the La Romana copper-tin discovery, Romana Deep and Zarcita target locations where drilling is currently underway. Source: Pan Global Resources Inc.

Pan Global Resources (TSXV:PGZ) has announced that drilling has begun at the Romana Deep volcanogenic massive sulphide targets at the 100%-owned Escacena Project. Located in Spain, the initial program at the project consists of four widely spaced drill holes and is aimed at providing the first test for the Romana Deep target.

Tim Moody, Pan Global President and CEO, commented in a press release: “Romana Deep is a compelling target featuring a large HEM anomaly extending down-dip from Pan Global’s La Romana copper discovery. Some of the strongest copper mineralization at La Romana exhibits a similar HEM signature and the copper mineralization remains open in the direction of the Romana Deep target. The first of four planned drill holes has commenced at Romana Deep. In addition, drilling continues to the north at the high priority Zarcita target.”

Romana Deep Target

Figure 2 – Romana Deep Target: Oblique view looking to the west showing the north-dipping La Romana copper mineralization continuing down-dip towards the Romana Deep HEM target and four planned drill holes, including RDD01 currently in progress. A corridor through the Romana Deep target is shown without EM data due to interference from an overhead electricity power line. A-A’ locates the cross section in Figure 3. Source: Pan Global Resources Inc.
Figure 3 – La Romana cross-section and Romana Deep target showing drill holes and copper mineralization coincident HEM anomaly at La Romana extending downdip to the north towards the Romana Deep target. Planned hole RDD01 (in-progress) is shown targeting the core of HEM resistivity low anomaly at Romana Deep. Source: Pan Global Resources Inc.

Further processing and interpretation of the Company’s recently completed HEM survey has significantly expanded the previously identified Romana Deep target (see previous news release on September 28, 2022). The Romana Deep target is characterized by a large HEM resistivity low anomaly located down-dip from Pan Global’s near-surface La Romana copper discovery (see Figure 1 above). The target is also less than 5 kilometres southwest of the former producing Aznalcollar open pit copper-zinc mine.

The copper-tin mineralization at La Romana also coincides with HEM resistivity low anomalies, providing a further indicator of potential for additional copper mineralization associated with the Romana Deep HEM target. The target extends northwards from La Romana at a depth of approximately 300m and spans more than 1 km east-west. See Figures 2 and 3 below. An initial four drill holes, 150 to 350 meters apart, totalling approximately 2,000 meters are planned to test some of the strongest resistivity low anomalies within the broader target area.

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. The project is located near operating mines at Las Cruces and Rio Tinto and is immediately adjacent to the former Aznalcollar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the permitting stage to restart mining. The Escacena Project hosts the La Romana copper-tin discovery and a number of other prospective targets, including La Jarosa, Hornitos, Zarcita, Romana Deep, Pilar, Bravo and Barbacena.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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