PAN GLOBAL DOUBLES SIZE OF SOIL GEOCHEMISTRY ANOMALY AT BRAVO TARGET, ESCACENA PROJECT
Rhea-AI Summary
Pan Global Resources Inc. (TSXV: PGZ) (OTCQX: PGZFF) has announced expanded soil geochemistry and new gravity survey results for the Bravo target within its Escacena Project in southern Spain. The survey has doubled the size of the lead-zinc soil anomaly to 1.7km x 1.0km, coinciding with a strong 2.0km x 1.5km gravity anomaly. This suggests potential for concealed volcanogenic massive sulphide (VMS) mineralization similar to the nearby La Romana copper-tin-silver discovery.
The Bravo target is located 1.5km east of La Romana and 4.5km southwest of Grupo México's Aznalcóllar and Los Frailes deposits. The expanded survey included 1,188 soil samples analyzed using pXRF, with select samples assayed for multi-element geochemistry. Results show combined Pb+Zn values up to 1,252ppm and anomalous Ag values up to 5.2g/t. The company is now planning detailed modelling, additional geophysical surveys, and prioritizing drill locations for the maiden Bravo drill campaign.
Positive
- Doubled size of lead-zinc soil anomaly to 1.7km x 1.0km at Bravo target
- Strong 2.0km x 1.5km gravity anomaly coincident with soil geochemistry
- Potential for concealed VMS mineralization similar to La Romana discovery
- High combined Pb+Zn values up to 1,252ppm and anomalous Ag values up to 5.2g/t
Negative
- None.
News Market Reaction
On the day this news was published, PGZFF gained 4.30%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU
- Soil lead-zinc (Pb-Zn) anomaly area doubles to 1.7km x 1.0km at the high-priority Bravo target
- Coincident with a strong 2.0km x 1.5km gravity anomaly
- Soil geochemistry survey expanded to investigate the area between Bravo target and the La Romana discovery
- Bravo located on-trend between the La Romana copper-tin-silver discovery and Grupo México's Aznalcóllar and Los Frailes deposits
"The new soil sample geochemistry and gravity survey results further support our view that the large Bravo target could represent concealed volcanogenic massive sulphide (VMS) mineralization beneath shallow cover, similar to Pan Global's nearby La Romana copper-tin-silver discovery. The new survey results double the size of the lead plus zinc surface anomaly from the initial soil sampling reported last month and confirm a large coincident gravity anomaly," said Tim Moody, Pan Global's President & CEO.
Mr. Moody added, "The elevated lead-zinc-silver soil geochemistry and coincident gravity anomaly are strong indicators of the potential for underlying sulphide mineralization. Modelling of the data is underway to finalize locations for the maiden Bravo drill campaign, plus soil geochemistry sampling has expanded to test the potential for mineralization between Bravo and the La Romana discovery to the west."
The Bravo target is located 1.5km east of Pan Global's La Romana copper-tin-silver discovery and 4.5km southwest of Grupo México's Aznalcóllar and Los Frailes volcanogenic massive sulphide deposits. The target is mostly covered by post-mineral rocks and sediments and has never been drill tested.
A total of 1,188 soil samples, including 57 duplicates, were collected as part of the expanded Bravo survey. The soil samples were collected on a 40-meter spacing along lines 100 meters apart. Each sample was analyzed using a hand-held x-ray fluorescence ("pXRF") device. Spatial interpretation of the pXRF results confirms a Pb plus Zn soil anomaly extending over 1.7km east-west and up to 1.2km north-south. Samples range from 300ppm to 1,252ppm combined Pb+Zn, including up to 1,115ppm Pb and 886ppm Zn.
A total of 67 soil samples from two lines over the Bravo target were also assayed for multi-element geochemistry by ALS laboratory to check and compare accuracy of the pXRF results. The results confirm a close correlation of the Pb and Zn assay values with the pXRF results and also show anomalous Ag values up to 5.2g/t (not analyzed by the pXRF) coincident with the Pb+Zn and gravity anomalies.
The initial Bravo ground gravity survey is complete, with results obtained from 788 stations on a 100m x 100m, and 100m x 50m grid over the main target area. The results confirmed a strong (>1.2 mGal) gravity anomaly with surface dimensions approximately 2.0km x 1.5km.
Next steps include:
- detailed modelling of the final gravity data, followed by;
- induced polarization and/or electromagnetic survey lines over the peaks of the gravity plus geochemistry anomalies to provide additional three-dimensional information; and,
- prioritize drillhole positions.
About the Escacena Project
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled
About Pan Global Resources
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits in
QA/QC
The soil geochemistry survey includes samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a 100m x 40m grid over the gravity target area. The samples are collected in plastic bags, and a multi-element analysis obtained using an Olympus Vanta hand-held x-ray fluorescence ("pXRF") device. Analyses are repeated on 1 per 20 samples, and standards analyzed to check for deviation.
Additional samples were sent to the ALS laboratory in
Qualified Persons
Álvaro Merino. Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
Forward-looking statements
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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SOURCE Pan Global Resources Inc.
FAQ
What are the dimensions of the expanded lead-zinc soil anomaly at Pan Global's Bravo target?
What is the size of the gravity anomaly identified at the Bravo target?
How many soil samples were collected in the expanded Bravo survey by Pan Global (PGZFF)?
What are the next steps for Pan Global's Bravo target exploration?
