The Company recently completed its first step-out drill program at its La Romana VMS copper target in the Escacena Project in southern Spain’s Iberian Pyrite Belt. Assay results for the 6 recent drill holes (LRD03 - LRD08) are expected within the next few weeks and will shed further light on this potential world-class discovery and further show what a valuable resource this could be.
In
early March 2020, PGZ reported that copper mineralization had been intersected close to surface at La Romana in the first three step out drill holes, including semi-massive to massive sulphide and stringer style sulphides.
- Leading copper jurisdiction - Spain
- Easy access; abundant infrastructure
- Multi target, multi metal, large size and high-grade potential
- Both “IOCG”, “Polymetallic vein and breccia” and “VMS” type of mineralisation
- Mining districts
(Drill core showing semi-massive and stringer style chalcopyrite in recent holes; (A) LRD03, (B) LRD04 and (C) LRD05. Image via Pan Global Resources.)
A Deeper Look: Escacena Project
At more than 5,700 hectares, this project’s key standouts are its location, as well as a considerable amount of historical work, as it is situated along a strike with three current and past-producing copper mines.
Pan Global’s leadership team is especially enthusiastic over Escancena’s two high-priority targets: the La Romana Target and the Cañada Honda Target.
La Romana is a high-grade copper discovery that has both shallow mineralization and broad size potential. The first three holes drilled in the recent step out program intersected semi-massive to massive sulphide and stringer style sulphides, including visible copper mineralization (chalcopyrite) to more than 20 meters in thickness. To better delineate the target, a detailed infill gravity survey has also been commenced.
(La Romana target area and diamond drill hole collar locations. Image via Pan Global Resources.)
The Company stated that these new drill holes confirm that copper mineralization is continuing along strike. One of La Romana’s newer holes, LRD05, has revealed fresh sulphide is present to within 12.5 meters from surface.
Indications are that copper mineralization continues almost to surface beneath a thin post-mineral cover. Also present in each drill hole is a deeper pyrite-dominant sulphide zone with intervals of banded massive sulphide that could be a new target horizon.
In
a March 2nd, 2020 news release for investors, Pan Global Resources CEO and President Tim Moody commented:
“We are very encouraged to report visual indications of copper mineralization over wide intervals in the new drill holes at La Romana. Whilst we are awaiting assay results, the exploration continues to show potential for a significant new copper deposit near to surface. On the strength of the results of the new drilling, additional drill holes are being planned.”
Investment summary:
Pan Global Resources is a junior mining Company that utilizes a tried-and-true strategy for prospering from its mining endeavours to discover, explore and develop these new mineral deposits. Management believes that the incoming assay results from the La Romana Target will be a major catalyst for the stock.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.