Pan Global Resources (TSXV:PGZ) has released an update on the advancement of exploration and drilling activities at its two key projects in Spain: the Escacena Project in the Iberian Pyrite Belt of southern Spain and the Cármenes Project in the northern León region. The company is also in the process of selecting a consultant to produce a National Instrument 43-101-compliant Technical Report for the La Romana deposit, including a maiden Mineral Resource Estimate.

Tim Moody, Pan Global’s President and CEO, commented in a press release: “The 2025 drill programs at the Escacena and Cármenes Projects are testing a compelling suite of high-priority targets, highlighting excellent potential for additional new discoveries of significant mineralization. Simultaneously, the team is advancing the plans for the La Romana copper-tin-silver deposit’s maiden Resource due for delivery before year-end, and the step-out drill program is targeting wider zones of higher-grade mineralization for inclusion in the maiden Resource. We look forward to providing updates as results are available.” 

Escacena Project Advancing Toward Resource Definition

At the Escacena Project, Pan Global is moving forward with a Technical Report that will include the first formal Mineral Resource Estimate for the La Romana copper-tin-silver deposit. The Technical Report will conform to NI 43-101 standards, the Canadian standard for mineral project disclosure. Consultant selection for the report is currently underway.

The Escacena Project consists of a 5,760-hectare land package fully controlled by Pan Global. Located in the eastern portion of the Iberian Pyrite Belt, the area is within 40 kilometers of three active mining operations and associated processing infrastructure. It is also located near the operational Riotinto mine and directly borders the former Aznalcóllar and Los Frailes mines. The adjacent Los Frailes property is in the final permitting stage for redevelopment by Minera Los Frailes, a subsidiary of Grupo México.

Within Escacena, Pan Global has identified multiple mineralized targets. In addition to La Romana, which is being advanced toward resource delineation, other discoveries include the La Pantoja copper-tin-silver zone and the Cañada Honda copper-gold occurrence. The company has also outlined numerous other targets that remain at earlier stages of exploration. These include Bravo, Barbacena, El Pozo, Romana Norte, San Pablo, Zarcita, Hornitos, La Jarosa, Romana Deep, and Cortijo. The variety and distribution of targets indicate the project’s potential for hosting multiple deposits.

Cármenes Project: Northern Spain Copper-Nickel-Cobalt Targets Under Evaluation

In addition to Escacena, Pan Global continues to explore its Cármenes Project, located approximately 55 kilometers north of León in northern Spain. The project comprises five 100%-owned Investigation Permits covering a total of 5,653 hectares. The project area is geologically situated within the same belt that hosts Orvana Minerals’ Orovalle copper-gold mining operation and the Salamon gold deposit.

Cármenes is considered prospective for carbonate-hosted breccia pipe-style mineralization. These “pipe-like” ore bodies can extend vertically for over a kilometer and may contain copper, nickel, cobalt, and gold mineralization. Historical records show that the area was previously mined at the Profunda and Providencia sites during the early 20th century, primarily for copper and cobalt, with additional nickel production. Although mining operations ceased in the 1930s, numerous smaller historical workings are still present in the area, indicating the possibility of undiscovered breccia pipes.

Current exploration activities at Cármenes are targeting multiple bodies with breccia-style mineralization. The geology suggests the potential for mineralized “clusters” that could host several vertically extensive deposits within the same structural corridors.

Pan Global Resources is focused on exploring for copper-rich and polymetallic mineral deposits in Spain. The company has prioritized copper due to its role in global electrification efforts and the European Union’s classification of copper as a Strategic Raw Material. The company is also targeting gold, a metal that continues to trade at historically high prices.

The company notes that the Iberian Pyrite Belt offers favorable conditions for mineral exploration and development, including modern infrastructure, a history of mining activity, available processing capacity, and established permitting processes. Southern Spain is regarded as a tier-one jurisdiction for mining, and Pan Global continues to engage with local communities and authorities in the region.

In northern Spain, the Cármenes Project benefits from a similarly long mining history and existing infrastructure, which support cost-effective exploration.