Pan Global Intersects 83 Meters of 1.74 g/t Gold, Expanding New Gold Zone at Cármenes Project, Spain
PVD16 delivers the widest high-grade gold intercept to date at Providencia, supporting ongoing expansion drilling at Cármenes in northern Spain.
Rhea-AI Summary
Pan Global Resources (PGZFF) reported new drill results from hole PVD16 at the Providencia target on the 100%-owned Cármenes Project in northern Spain, including 83 m averaging 1.74 g/t gold from 9 m depth.
The interval includes several higher-grade zones such as 9 m at 4.88 g/t Au, 2 m at 12.57 g/t Au, 12 m at 2.65 g/t Au and a peak of 32.2 g/t Au over 0.5 m. Assays also show associated copper, nickel, cobalt, silver, platinum and palladium within a 500 m x 200 m carbonate breccia system. The company states that high-grade mineralization extends to surface, remains open along strike and at depth, and appears to strengthen east and south of the historical Providencia mine, indicating potential to expand the mineralized footprint. Pan Global reports it is well-capitalized and continues Phase 3 drilling, with assays pending from four holes and further drilling planned at the nearby Profunda target.
Positive
- 83 m at 1.74 g/t Au from 9 m, widest high-grade intercept to date at Providencia
- Multiple high-grade sub-intervals, including 12.57 g/t Au over 2 m and 32.2 g/t Au over 0.5 m
- Gold mineralization extends to surface and remains open along strike and at depth
- Associated Cu-Ni-Co-Ag-Pt-Pd within a 500 m x 200 m carbonate breccia system
- Company reports being well-capitalized to continue exploration at Cármenes and Escacena
- Ongoing Phase 3 drilling with four completed holes awaiting assays and more drilling planned
Negative
- All reported intervals are down-hole lengths; true widths remain undetermined due to limited drilling
- The 83 m interval includes 1.5 m of missing core treated as 0.00 g/t Au internal dilution
- Cármenes remains at an exploration stage with no mineral resource or economic study disclosed
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Providencia drillhole PVD16 returns 83 meters at 1.74 g/t gold from 9 meters depth, including multiple higher-grade intervals
- Widest high-grade intercept to date includes 4.88 g/t gold over 9 meters, 12.57 g/t gold over 2 meters, 2.65 g/t gold over 12 meters, and a peak of 32.2 g/t gold over 0.5 meters
- Highlights potential to expand mineralization footprint southwards
- High-grade mineralization extends to surface, remains open both laterally and at depth
VANCOUVER, British Columbia , Sept. 17, 2026 (GLOBE NEWSWIRE) -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ; OTCQB: PGZFF; FRA: 2EU) is pleased to announce exceptional assay results from drillhole PVD16 at the Providencia target (“Providencia”), part of the Company’s
The results reveal a network of steeply-dipping, northerly-trending higher grade gold zones and associated copper, cobalt, nickel platinum and palladium mineralization. The mineralization is within a broader 500 meter (m) x 200 m carbonate breccia system.
Key Highlights from Drillhole PVD16:
- 83 meters averaging 1.74 g/t gold from 9 meters (downhole) including:
- 4.88 g/t Au,
0.04% Cu,0.06% Ni,0.08% Co, 3.0 g/t Ag, 0.27 g/t Pt and 0.19 g/t Pd over 9 m - 12.57 g/t Au over 2 m
- 5.88 g/t Au over 2 m
- 2.65 g/t Au over 12 m with a bonanza grade of 32.2 g/t Au over 0.5 m
- 4.88 g/t Au,
- High-grade gold mineralization extends to surface and remains open along strike and at depth
- Confirms continuation and expansion of gold mineralization beyond previous intercepts, including the 3.9 g/t gold over 15 meters recently reported in drillhole PVD15
- Gold grades notably increase to the east and south of the historical Providencia mine, indicating potential to expand mineralization footprint southwards
- Provides further confirmation of potential for significant scale and a high-grade gold zone within, and peripheral to, a multiphase hydrothermal breccia system
“These exceptional results from PVD16 confirm both the scale and continuity of high-grade mineralization at Providencia. The intercept of 83 meters at 1.74 grams per tonne gold from near surface dramatically enhances our confidence in the gold potential of this mineralized system. Results from the on-going Phase 3 drill program increase our confidence that the mineralized zones remain open for expansion in several directions, underscoring potential for a significant discovery,” said Tim Moody, President and CEO of Pan Global.
“As we advance drilling and refine our geological models, our focus is now on testing for extensions of the mineralization at depth, expanding the footprint and identifying additional high-grade zones at Providencia and other high-priority targets in the Cármenes Project.”
Pan Global remains well-capitalized to support expansion of the exploration programs at both Cármenes and the flagship Escacena Project.
Next Steps:
- Drilling is ongoing at Providencia with two holes remaining in Phase 3
- Assay results are pending for four additional completed drillholes at Providencia
- Following completion, drilling will commence at the nearby Profunda Target
- Surface sampling and geological mapping continues to advance regional targets within Cármenes
Figure 1 – Drillhole PVD16 cross-section with assay results and interpreted higher grade zones; selected nearby results projected onto the section
Figure 2 – Providencia target map with drillhole and selected channel sample results, and drillhole PVD16 cross-section A-A' location (Fig. 1)
Table 1 – Providencia Drillhole PVD16 Results Summary
| Drillhole | From | To | Interval1 | Au | Ag | Cu | Ni | Co |
| m | m | m | g/t | g/t | ppm | ppm | ppm | |
| PVD16 | 9.0 | 92.0 | 83.0 | 1.74 | 0.7 | 85 | 129 | 110 |
| including | 9.0 | 18.0 | 9.0 | 4.88 | 3.0 | 415 | 579 | 780 |
| including | 12.0 | 18.0 | 6.0 | 7.00 | 4.4 | 575 | 813 | 1128 |
| including | 19.5 | 21.0 | 1.5 | 1.65 | 0.5 | 657 | 1240 | 635 |
| including | 32.0 | 34.0 | 2.0 | 12.57 | 0.5 | 33 | 21 | 14 |
| including | 46.0 | 48.0 | 2.0 | 5.88 | 0.5 | 35 | 15 | 4 |
| including | 55.0 | 67.0 | 12.0 | 2.65 | 0.8 | 88 | 3 | 3 |
| including | 59.7 | 60.2 | 0.5 | 32.20 | 3.3 | 59 | 488 | 93 |
| including | 71.0 | 83.0 | 12.0 | 1.42 | 0.3 | 16 | 14 | 5 |
| including | 90.0 | 92.0 | 2.0 | 5.01 | 1.6 | 78 | 277 | 41 |
PVD16 Platinum and Palladium
| Drillhole | From | To | Interval1 | Pt | Pd | Pt+Pd |
| m | m | m | g/t | g/t | g/t | |
| PVD16 | 9.0 | 18.0 | 9.0 | 0.27 | 0.19 | 0.45 |
| including | 12.0 | 18.0 | 6.0 | 0.36 | 0.26 | 0.62 |
| 59.7 | 60.2 | 0.5 | 1.4 | 0.7 | 2.2 | |
Notes:
- All reported drill intervals are down-hole lengths. Insufficient drilling has been completed to determine true widths.
- The 83-meter continuous interval includes a 1.5-meter interval of missing core resulting from localized core loss during drilling from 18.0 m to 19.5 m. In accordance with QA/QC and industry best practices for public disclosure, the missing interval is assigned an internal dilution value of 0.00 g/t gold within the length-weighted average calculation.
- All sub-intervals calculated using a 0.5 g/t lower cut-off and allow three meters consecutive internal dilution. No top-cut is applied.
Table 2 – Drillhole Collar Information
| Hole ID | Easting1 | Northing1 | Azimuth (º) | Dip (º) | Length (m) |
| PVD16 | 287606 | 4761229 | 224 | -28 | 224.58 |
1 Coordinate system: UTM30N ERTS89
About the Cármenes Project
The Cármenes Project is located on the southeastern extension of the Rio Narcea Gold Belt approx. 55 km north of León and comprises five Investigation Permits over 5,653 hectares held
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company’s flagship Escacena Project, hosting La Romana and Cañada Honda copper-tin-gold mineral resources, is in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment.
The Company’s second project, at Cármenes in northern Spain, is an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mining operations. Pan Global Resources is committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
To learn more about Pan Global Resources, please visit the Company’s Curation Connect showcase and explore AI-generated responses to your enquiries at https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases
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.
Sampling, QA/QC and Analytical Procedures
Core size was HQ (63 mm) and all samples were ½ core. Nominal sample size was 1 m core length and ranged from 0.5 to 2 m. Sample intervals were defined using geological contacts with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling was supervised at all times by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples, and Certified Reference materials inserted every 25 samples in each batch.
Samples were placed in sealed bags and delivered to the ALS sample preparation facility in Seville in Spain and assayed at the ALS facility in Ireland. All samples were crushed and split (method CRU-31, SPL22Y) and pulverized using (method PUL-31). Gold, platinum and palladium analysis was by 50 gm fire assay with ICP finish (method Au-ICP-24) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).
FOR MORE INFORMATION PLEASE CONTACT:
Jason Mercier, VP Investor Relations and Communications
jason@panglobalresources.com / investors@panglobalresources.com
Tel: +1-236-886-9518
www.panglobalresources.com
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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FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the key high-grade gold intervals within drillhole PVD16 at Providencia?
Within the 83 m interval averaging 1.74 g/t Au from 9 m, PVD16 returned several higher-grade zones, including 9 m at 4.88 g/t Au with 0.04% Cu, 0.06% Ni, 0.08% Co and 3.0 g/t Ag, 2 m at 12.57 g/t Au, 2 m at 5.88 g/t Au, 12 m at 2.65 g/t Au, 12 m at 1.42 g/t Au, and a peak interval of 32.2 g/t Au over 0.5 m.
What platinum and palladium values were reported from PVD16?
In PVD16, the interval from 9.0 m to 18.0 m (9 m) averages 0.27 g/t Pt and 0.19 g/t Pd (0.45 g/t Pt+Pd). Within this, 6 m from 12.0 m to 18.0 m averages 0.36 g/t Pt and 0.26 g/t Pd (0.62 g/t Pt+Pd), and a 0.5 m interval from 59.7 m to 60.2 m reports 1.4 g/t Pt and 0.7 g/t Pd (2.2 g/t Pt+Pd).
How is the PVD16 drillhole oriented and how long is it?
Drillhole PVD16 has a collar location of 287606 Easting and 4761229 Northing in the UTM30N ERTS89 coordinate system. It was drilled with an azimuth of 224°, a dip of -28°, and has a total length of 224.58 m.
What QA/QC and analytical procedures were used for the PVD16 assay results?
Core was HQ size and sampled as half-core, generally at 1 m intervals. Duplicate quarter-core samples were taken approximately every 30 samples, and Certified Reference materials were inserted every 25 samples. Samples were sealed and sent to ALS in Seville for preparation and to ALS in Ireland for analysis. Gold, platinum and palladium were analyzed by 50 g fire assay with ICP finish (Au-ICP-24), and multi-element analyses used 4-acid digestion with ICP AES finish (ME-ICP-61), with over-grade base metals assayed by OG-62.
What are the next exploration steps at the Cármenes Project?
Drilling is continuing at Providencia with two holes remaining in Phase 3 and assays pending for four completed drillholes. After Phase 3 concludes, drilling is planned to commence at the nearby Profunda target. Surface sampling and geological mapping are also ongoing to advance additional regional targets within the Cármenes Project area.
Where is the Cármenes Project located and what is its scale?
The Cármenes Project lies on the southeastern extension of the Rio Narcea Gold Belt, approximately 55 km north of León in northern Spain. It comprises five Investigation Permits covering 5,653 hectares held 100% by Pan Global and includes the historical Profunda and Providencia mines, which last operated in the 1930s.