- Pan Global Resources (PGZFF, Financial) reports a significant gold discovery at the Cármenes Project in Spain, intersecting 1.08 g/t gold over 46 meters from near the surface.
- The maiden drillhole (PVD02) also revealed a high-grade interval of 6.27 g/t gold over 4 meters.
- Results from additional drillholes in the area are anticipated, with multiple exploration targets identified for further discoveries.
Pan Global Resources (PGZFF) has announced promising results from its maiden drilling campaign at the Cármenes Project in northern Spain. The first drillhole (PVD02) intersected 1.08 grams per ton (g/t) gold over 46 meters from near the surface, including a noteworthy high-grade interval of 6.27 g/t gold over 4 meters.
This discovery is significant as it signifies previously unknown gold mineralization near the historical Providencia copper-cobalt-nickel mine. The gold zone potentially forms a halo around the copper-rich mineralization of the historical workings. The current six-hole drill program aims to expand on this initial find, with results pending for completed drillholes PVD03 and PVD04. These results are expected to be released within three weeks.
Pan Global's Cármenes Project, located approximately 55 kilometers north of León, spans five Investigation Permits covering an area of 5,653 hectares. The region is highly prospective for breccia-style copper, nickel, cobalt, and gold mineralization, with several potential targets, including the Profunda target, located 1 kilometer south of Providencia. The company continues to explore other targets identified through soil geochemistry and mapping, highlighting the potential for additional significant discoveries.
The project is fully controlled by Pan Global, providing the company with extensive leverage to develop the newly identified gold zone. The ongoing exploration and analysis in the Cármenes Project area underscore Pan Global's commitment to unlocking its full potential.
