Le Lézard
Classified in: Mining industry, Business
Subject: MINING EXPLORATION UPDATE

Continued Positive Results on the Aguilas Copper Project, Spain


VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 15, 2017) -

Editors Note: There is a figure associated with this press release.

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSX VENTURE:PGZ) herein provides an update on the latest prospecting and sampling results from the Aguilas Copper Project in Spain. 

The company manages the Aguilas Project through its agreement to acquire Spanish company, Minera Aguila SLU. Minera Aguila SLU holds the Las Aguilas I, II and III Investigation Permit applications, referred to as the "Aguilas Project". The mineral rights cover approximately 11,302.5 hectares within the Pedroches Batholith, in northern Andalucia, Spain (Figure 1). 

Prospecting in the Aguilas Project has focused on identifying the extent and nature of the copper mineralization on the Torrubia Copper Trend. Previously reported results included 25 rock grab samples with values ranging from 1% to 28% copper and up to 33% iron, 1.7g/t gold, 17.5g/t silver, 0.13% cobalt, along with anomalous levels of uranium, nickel and light rare earth metals (lanthanum and scandium). The copper is associated with numerous small ancient mine workings, multi-stage hydrothermal quartz-hematite-carbonate breccia and "red rock" alteration. The metal association, style of mineralization and alteration are typical of hematite dominant iron oxide copper gold (IOCG) type ore deposits such as occur in the Cloncurry and Olympic Dam districts in Australia and elsewhere. There has been very little previous exploration in the area and no drilling on the copper trend. Re-evaluation of the historic Zumajo lead-silver mine trend within the Aguilas project area has also commenced. 

The latest exploration in the Aguilas Project has extended the copper mineralization on the Torrubia Copper Trend and identified similar style copper mineralisation on a separate structure at Los Lazos. Definitive Admission of the Aguilas I and Aguilas II Investigation Permits is on track for early July.

Highlights from the latest sampling are provided below:

Aguilas Project Highlights

Detailed sampling and geophysics will now focus on those sections of the Torrubia Copper Trend with the highest copper values.

Other news

Notice was received on May 31, 2017, requesting the technical information for publication of the Aguilas I and Aguilas II Investigation Permits. Definitive Admission of the mineral rights is anticipated by early July. Definitive Admission of the Aguilas III Investigation Permit is expected to follow shortly thereafter.

On June 8, 2017, the TSX Venture Exchange accepted for filing the Letter of Intent dated May 15, 2017 between Pan Global Resources Inc. (the Company) and Evalam 2003 S.L. whereby the Company may acquire a 100% interest in the Escacena Property consisting of one exploration license (2,060 hectares) in the Iberian Pyrite Belt in southern Spain. Consideration is $350,000 cash and $1,000,000 in exploration work commitments over a 3-year period. The Vendor will retain a NSR of 0.5% on the first 12,500 tonnes of copper equivalent and 0.75% on any amount in excess of 12,500 tonnes of copper equivalent. The NSR has a lifetime cap of $5,000,000. Final due diligence and digital compilation of the historical exploration data is currently underway.

Qualified Person

Robert Baxter (FAusIMM), a Director of Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Baxter is not independent of the Company.

About Pan Global Resources

Pan Global Resources Inc. is actively engaged in base and precious metal exploration in Spain, and is pursuing opportunities from exploration through to mine development. 

On behalf of the Board of Directors

www.panglobalresources.com.

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. 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.

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.

Shares Issued and Outstanding: 60,085,387

To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/PanGlobal_Figure1.jpg  


These press releases may also interest you

at 12:37
Hilco Industrial, in partnership with The Branford Group, have announced today the turnkey offering of one of the largest electrode plants in North America. This Michigan-based manufacturing facility has a production capacity of 4,000,000 battery...

at 11:45
The program, currently offered by invitation only, gives each member the opportunity to carry the ESA Accreditation. In addition, the program certifies members to represent Emerald to national end-user accounts and to present on Emerald's newest...

at 11:02
Granada Gold Mine ("Granada Gold" "GGM" or the "Company") is pleased to report on the results of a preliminary gravity separation study that demonstrates the positive impact of pre-concentrating lower-grade, gold-bearing rock from its Granada Gold...

at 10:11
Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") is pleased to report that it has closed its previously announced bought deal offering, including the exercise in full of the over-allotment option (the "Offering"). A total of...

at 10:00
Insteel Industries, Inc. today announced that its second quarter 2019 earnings conference call will be webcast live over the internet on Thursday, April 18, 2019 at 10:00 a.m. ET following the release of the Company's second quarter financial...

at 09:46
Copper Mountain Mining Corporation   ("Copper Mountain" or the "Company") is pleased to announce the appointment of Michele Buchignani to its board of directors effective today.  Ms. Buchignani brings nearly 30 years of experience in private equity,...



News published on 15 june 2017 at 11:33 and distributed by: