Pan Global Resources Finds Significant Gold Mineralization at Providencia Target

Pan Global Resources Inc has announced significant new gold and polymetallic mineralization discoveries at the Providencia target within the Cármenes Project in northern Spain. The company's latest drill hole, PVD15, has intersected 15 meters grading 3.90 grams per tonne (g/t) gold, 0.04% copper, 0.11% nickel, and 0.12% cobalt from surface. The intersection includes a higher-grade zone of 8 meters grading 6.79 g/t gold and 1 meter grading 18.55 g/t gold, 1.39 g/t platinum, and 0.74 g/t palladium.

These results extend the mineralization well beyond the historical Providencia mine workings, demonstrating a potentially more proximal, higher-temperature part of the system. Pan Global CEO Tim Moody highlighted the significance of the discovery, stating, "The latest drilling continues to demonstrate significant exploration potential at Providencia, with gold and polymetallic mineralization extending well beyond the historical copper-cobalt-nickel mine workings."

The company also reported that the mineralization remains open along strike and at depth, providing scope for further expansion. PVD15 commenced in mineralization from surface, confirming the high gold grades extending beneath previously reported surface channel sampling that returned 20.18 g/t gold over 5 meters.

In addition to the Providencia target, Pan Global has identified new copper anomalies southwest of the area, 400 to 800 meters away. These anomalies, associated with strong dolomite alteration and vuggy dolomite/calcite breccia, have been identified through expanded soil geochemistry. The company is prioritizing these areas for future drill testing.

The results from drill holes PVD11 through PVD15 have been received and detailed in the press release. PVD14 intersected a broad zone of hematite-breccia containing gold before reaching the easternmost extent of the historical underground mine workings. PVD13 and PVD12 also returned encouraging results, with PVD12 intersecting the interpreted northern margin of the breccia-hosted gold and copper-nickel-cobalt sulphide mineralization.

The Cármenes Project, located on the southeastern extension of the Rio Narcea Gold Belt, covers an area of 5,653 hectares and includes the former Profunda and Providencia mines. Pan Global’s exploration efforts continue to refine the geological and structural model, with the current Phase 3 campaign expanded to 12 drillholes designed to test the depth and lateral continuity of the mineralized breccia system.

The company is also advancing exploration at the Profunda and Valverdin targets, with more than two dozen targets prioritized for follow-up exploration across the Cármenes Project. Elevated copper geochemistry in the soils at Profunda shows a broad anomaly and highlights the high prospectivity of this target area.

Overall, the latest discoveries at the Providencia target and the expanded exploration efforts at the Cármenes Project continue to underscore the significant mineralization potential of the area, positioning Pan Global Resources Inc as a leader in copper-rich mineral exploration in Spain.