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PAN GLOBAL SAMPLES UP TO 24.3 G/T GOLD AND 16.2% COPPER IN SOILS AT THE CÁRMENES PROJECT, NORTHERN SPAIN

27 gennaio 2025 | 13.29

LETTURA: 8 minuti

TSXV: PGZ | OTCQX: PGZFF | FRA: 2EU

VANCOUVER, BC, Jan. 27, 2025 /PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) is pleased to announce results from soil and rock sample geochemistry, including follow-up sampling at the Providencia target, at the Company's 100%-owned, Cármenes copper, gold, nickel, cobalt Project ("Cármenes"), in northern Spain.

"The new high-grade copper, gold and other metals results from Cármenes are very encouraging. The initial soil and rock geochemistry results indicate the footprint of the Providencia breccia pipe mineralization is much larger than previously known, and shows significant gold potential. The grades detected in the soil samples are exceptional, including assays up to 24.3 grams-per-tonne (g/t) gold, and percent levels of copper, nickel, and lead. The rock samples confirm mineralization in outcrop," said Tim Moody, Pan Global President and CEO.

"Our team is eagerly awaiting the results of additional trench and channel sampling completed at the Providencia target, and underground sampling at the Profunda target. The potential exists for the discovery of addition breccia pipes in proximity to Providencia and other target areas. Two drill rigs are now operating in the Company's Escacena Project and a third rig will commence the first ever drillhole within the coming days at Providencia."

Highlights:

Next Steps

The Company will host an investor webcast on Thursday, January 30 to discuss the Cármenes results as well as the 2025 drill campaigns at the Escacena and Cármenes Projects. See registration instructions at the end of this release.

Soil sample results for pXRF copper are provided in Figure 1 below, and the Providencia Target close-spaced laboratory soil sample results for gold, copper, nickel, cobalt and lead are provided in Figures 2 to 6. Rock sample results from Providencia for gold and copper are provided in Figures 8 and 9.

Investor webcast:

The Company will host an investor webcast with CEO Tim Moody on Thursday, January 30, 2025 at 1 p.m. Eastern Time / 10 a.m. Pacific Time to discuss the 2025 plans for the Escacena and Cármenes Projects and provide an update on the ongoing work. A Q&A session will follow a short presentation. Please register in advance:https://us06web.zoom.us/webinar/register/WN_LRlnhakUQvaAnMyT4Tpvnw

About the Cármenes Project

The Cármenes Project is located approx. 55km north of León in northern Spain and comprises five Investigation Permits over 5,653 hectares. The Project area is highly prospective for multiple bodies or "clusters" of carbonate-hosted "pipe-like" breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines, that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight potential for additional breccia pipes. These types of deposits can have significant vertical dimensions exceeding 1km.

About Pan Global Resources

Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located 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 Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are 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.

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.

QA/QC

Rock samples delivered to the ALS sample preparation facility in Seville were prepared and assayed at the ALS facility in Ireland. All samples were crushed, split and pulverized using methods CRU-31, SPL-22Y and PUL-31. Gold analysis was by 50gm Fire assay with AA finish (Au-AA23). Multi element analysis was undertaken using a 4-acid digest with ICP-AES finish (ME-ICP61). Over-grade samples were analyzed using 4-acid digest with ICP-AES finish for base metals (OG62), and Fire Assay with Gravity Finish for gold (Au-GRA21). Certified reference materials were inserted at a 1/25 samples. The grab sample results are selective by nature, and may not be representative of average grades for the mineralization.

The first pass soil geochemistry survey includes samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a 100m x 40m grid and follow-up/infill sampling was tightened to 50m x 20m. The samples are collected in plastic bags, and a multi-element analysis is 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 and compare against pXRF results. Additionally, closer-spaced infill samples over the Providencia area were also sent to the ALS laboratory in Seville for higher resolution multi-element analysis. The pXRF copper values shows excellent (99%) correlation with laboratory copper assays.

Soil samples delivered to the ALS sample preparation facility in Seville were prepared and assayed at the ALS facility in Ireland. All samples were weighed and screened to 180 microns. All samples were analyzed by super trace low detection Aqua Regia digest with ICP-MS finish (ME-MS41L). Over-grade samples were analyzed using Aqua Regia digest, ICP-AES finish (ME-OG46). Certified reference materials were inserted at a 1/25 samples. The rock sample results from outcrop, float and dumps are selective by nature, and may not be representative of average grades for the mineralization.

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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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

‍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