Pan Global Resources Inc. (TSXV:PGZ) is a Vancouver-based junior resource company listed on the TSX Venture and OTCQX that’s experienced in exploration, discovery, development and mine operations. The company went into 2023 with an $8.5 million budget and dedicates more than 80 per cent of expenses to its Spanish exploration projects.
With The Market Herald Canada today to speak on all things Pan Global is the company’s president, CEO and director, Tim Moody.
TMH: Hello and welcome, Tim. I can see that drilling began back in June at the Romana West target. Why was it so important to get to that target now?
Moody: Yes, that is our highest priority at present. We made a copper, tin, silver discovery called La Romana a couple of years back. We’ve been drilling there intensely. This was the extension to the west, so this was key for us to see how big the La Romana deposit could ultimately be.
TMH: Can you highlight some key results from the Romana West and Cañada Honda targets for those who are watching?
Moody: Our last two news releases were firstly Cañada Honda, which is a new target really. We’ve just begun drilling there. We had some really, really nice results, copper and gold, which is a little bit different. We haven’t seen gold in our other targets before. We seem to be at the edge of a large geophysics target. Every hole’s hitting mineralization at the moment and looks like that we could be on the edge of a big discovery. Romana West just put out the first batch of drill results, first six holes. As we progressed the drilling from east to west, that was also very successful. It’s shown the mineralization, the copper and tin are continuing. The geometry is the same and it looks like it’s still growing and going to get better.
TMH: Copper seems to be at the forefront of work the company is currently undertaking. I understand there have been favorable findings, including 86 per cent copper recovery, how does this “green” metal tie into profitability in the future?
Moody: Well, you’re right. We are primarily focused on copper. It’s the new green metal. It’s going to be essential for the green transition.
The results you’re talking about are the copper metallurgy results. They were excellent results that we put out, 86 to 89 per cent copper recoveries, concentrate grades were very high as well. Those were good not only for the numbers themselves but relative to the other mining operations in the area. So that ultimately means we’ve got potential to produce a more valuable product that gets sold to the smelters.
TMH: Later this fall the company will be looking forward to receiving tin metallurgical results. Do you have a rough idea of what to expect?
Moody: The next stage of the metallurgical testing is the tin and that work is advancing very well. It’s looking very promising. Fortunately, we have the No. 1 best tin mineral called cassiterite. So that’s exactly what the metallurgists want to have. We should have those results maybe in about a month or so, at least have something to share.
TMH: The European Commission recently modified its list of critical raw materials to include copper and battery-grade nickel, and the U.S. Department of Energy’s critical raw materials now also include copper. How do you see this affecting the company?
Moody: It’s a growing trend. I think we’re seeing more countries, more parts of the world add copper to the critical minerals list. It is the key to the energy transition. It’s used for everything; batteries and cars and you name it. So, it’s not only key for that but I think the expectation is the world’s not ready to supply the amount of additional copper that’s going to be required to meet the new demand that’s coming. So that’s looking very good for us.
I think the timing could be spot on for us as copper prices are anticipated to really accelerate. Some people are predicting doubling of the price over the next few years but certainly the demand looks exceptional. We could be looking at doubling the amount of copper the world is consuming every year by 2035.
So it’s a big jump and where’s it coming from? We’ve got one of, I think one of those important new sources of copper, something that could be put into production potentially by the end of this decade.
TMH: What are Pan Global’s key catalysts for the remainder of 2023 and into next year?
Moody: So we are completing the 25-hole program on the western extension of our copper discovery called La Romana. If the copper is continuing, that’s great news because it means we’re going to have to do more drilling. But if we start to run to the edge, then we’ll be looking to put out a resource sometime next year.
But the first thing is to complete the 25-hole drill program. We’re halfway through that now. Then we’re waiting for the tin metallurgy results, as I also said and hopefully we’ll be back to some of the other targets like Cañada Honda to drill again before the end of the year.
For more information on Pan Global, visit panglobal.com.
This is sponsored content issued on behalf of Pan Global Resources, please see the full disclaimer here.