Pan Global Resources Inc. has announced significant progress at its Escacena and Cármenes projects in Spain. The company’s exploration programs in 2024 resulted in major milestones, including the extension of near-surface mineralization at the La Romana target by over 300 meters and the identification of over 15 new geophysical and geochemical anomalies at the Escacena project.
The advanced copper metallurgical tests delivered industry-leading results, with excellent copper recoveries and low deleterious elements. The La Romana metallurgical testwork also confirmed potential for higher grades and recoveries for copper compared to other advanced projects and mines on the Iberian Pyrite Belt.
In addition, Pan Global completed an 11-hole step-out drilling program at the Cañada Honda target, indicating large size potential with most of the target untested. The company also announced the commencement of exploration for copper-nickel-cobalt-gold hosted within pipe-like breccia bodies at the Cármenes Project.
The company raised C$7.2 million in a non-brokered private placement financing in November, with strong support from existing investors and the addition of two new major investors.
Pan Global’s flagship Escacena Project is located in the Iberian Pyrite Belt in southern Spain, a tier-one low-risk jurisdiction for mining investment with a favorable permitting track record, excellent infrastructure, and mining and professional expertise. The company is committed to operating under the principles of the United Nations Global Compact.
