- Pan Global Resources (TSXV:PGZ) released results from the Cañada Honda target at its Escacena Project in southern Spain
- The team saw the highest-grade copper-gold mineralization in all holes at Cañada Honda drilled to date
- Hole CHD05 confirms that copper-gold mineralization continues with increasing thickness 150 metres down-dip from hole CHD04 and remains wide open
- Pan Global Resources (TSXV:PGZ) opened trading at $0.35 per share
Pan Global Resources (TSXV:PGZ) released results from the Cañada Honda target at its Escacena Project in southern Spain.
The team saw the highest-grade copper-gold mineralization in all holes at Cañada Honda drilled to date.
Follow-up drill hole CHD06, situated more than 100 metres to the east of hole CHD05, has intersected visible copper mineralization coincident with a downhole EM (DHEM) conductor anomaly, confirming that mineralization at Cañada Honda is open in all directions.
Cañada Honda gravity anomaly model cross section and drill hole locations, including hole CHD05 coincident with the gravity target and 330 metres down-dip from the historic mine tunnel. Source: Pan Global Resources Inc.
Hole CHD05 confirms that copper-gold mineralization continues with increasing thickness 150 metres down-dip from hole CHD04 and remains wide open.
Results for CHD05 include:
- 20 metres at 0.5 per cent copper (Cu), 0.3 grams per tonne gold (g/t Au), and 1.9 g/t Ag from 287 metres down-hole, including:
- 5.1 metres at 1.3 per cent Cu, 0.5 g/t Au, and 3.9 g/t Ag
- 0.5 metre at 10.3 per cent Cu, 1.4 g/t Au and 29 g/t Ag
Boasting a gravity anomaly more than 2 kilometres long, Cañada Honda is one of more than 14 Escacena gravity anomalies.
Pan Global’s President and CEO, Tim Moody said in a news release that higher-grade copper mineralization continues to be delineated at the Cañada Honda target.
“Hole CHD05 reported today was a large step-out along a 2-kilometer-long gravity anomaly and intercepted a wide zone of copper-gold mineralization 150m down-dip,” Moody said. “It is particularly encouraging to see an increase in thickness of the copper-gold mineralization down-dip coincident with a gravity target. This indicates good potential for additional mineralization associated with the gravity anomaly.”
Located in the Iberian Pyrite Belt, the Escacena Project comprises a large, contiguous, 57.6 square kilometre land package controlled 100 per cent by Pan Global.
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development.
Pan Global Resources Inc. (PGZ) opened trading at $0.35 per share.
Join the discussion: Find out what everybody’s saying about this stock on the Pan Global Resources stock forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.