• Pan Global Resources (PGZ) has reported promising initial drilling results from a Phase 3 step-out program at its Escacena Project in Spain
  • Five holes have been completed so far, with copper mineralisation intersected in each
  • These holes form part of a larger 25-hole, 3,500 metre campaign designed to to delineate and expand the copper-tin-silver mineralisation at the La Romana target
  • The completed holes confirm that mineralisation continues from near-surface and remains open in several directions
  • Pan Global Resources (PGZ) is currently down 6.67 per cent and is trading at C$0.35 per share at 2:49pm EDT

Pan Global Resources (PGZ) has reported promising initial drilling results from a Phase 3 step-out program at its Escacena Project in Spain.

Located within the highly prospective Iberian Pyrite Belt roughly 40 kilometres northwest of Seville, the Escacena Project covers a total area of approximately 249.5 hectares.

Five drill holes have been completed so far at the La Romana target, totalling 739.5 metres, each of which have intersected copper mineralisation, including semi-massive and stringer-style sulphides.

Pan Global says that these holes confirm the presence of copper mineralisation, which appears to increase in an easterly direction.

This forms part of a broader 25-hole, 3,500-metre program, which has been designed to follow-up on previous drilling work in the region.

Some of the most significant results generated from this previous work include the LRD-02 hole, which intersected 20.55 metres at 1.5 per cent copper equivalent, including seven metres at 3.43 per cent copper equivalent.

The LRD-05 hole also intersected 21 metres at 1.55 per cent copper equivalent, including 11 metres at 2.6 per cent copper equivalent.

Pan Global also intends to test two significant down-hole conductor plates that coincide with copper mineralisation in two separate layers. These conductor plates suggest that the mineralisation extends along strike, both up and down dip.

Tim Moody, President and CEO of Pan Global Resources, said he is very encouraged to report visual copper mineralisation in all the new drill holes at La Romana.

“This includes multi-layer copper mineralisation over intervals from several metres to more than 30 metres thickness.

“Logging and sampling of the drill core is progressing quickly and assay results awaited,” he added.

Pan Global Resources (PGZ) is currently down 6.67 per cent and is trading at C$0.35 per share at 2:49pm EDT.

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