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Be the first with the news that moves the market- Pan Global Resources (PGZ) has launched a drill program at the La Romana copper target of its Escacena Project in southern Spain
- The company intends to drill up to 25 holes over a total of 3,500 metres, focused on significantly expanding the copper mineralisation
- One drill rig is currently operational, with the potential to add a second as the program advances
- Previous drilling at La Romana returned substantial results, including 20.55 metres at 1.5 per cent copper equivalent
- Pan Global Resources (PGZ) is currently down 3.85 per cent and is trading at C$0.38 per share
Pan Global Resources (PGZ) has launched a drill program at the La Romana copper target of its Escacena Project in southern Spain.
Located within the highly prospective Iberian Pyrite Belt roughly 40 kilometres northwest of Seville, the Escacena Project covers a total area of approximately 249.5 hectares.
The company intends to conduct an exploration program focusing on the La Romana target in late July, outlining its plans to further test the continuity and potential extensions of the high-grade, near-surface mineralisation.
Now, Pan Global will drill up to 25 holes over a total of 3,500 metres, including step-out holes targeting the strike and dip extensions found through previous drilling work.
The drill holes will also test two significant down-hole conductor plates that coincide with copper mineralisation in two separate layers. These conductor plates suggest that the mineralisation extends along strike, both up and down dip.
Tim Moody, President and CEO of Pan Global, said he is excited to once again be drilling at the La Romana target.
“The aim of this drill phase is to start defining the geometry and significantly expand the copper mineralisation over approximately 800 metres of strike.
“The planned drill holes will also test the multi-layer potential and help to define vectors to areas of stronger mineralisation,” he added.
Previous drilling work, carried out by Pan Global’s Spanish subsidiary Minera Escacena, completed eight holes at the La Romana discovery and intersected copper mineralisation over a strike length of more than 350 metres.
This mineralisation occurs in at least three shallow north-dipping layers that extend from near the surface.
Over the course of this work, hole LRD-02 intersected 20.55 metres at 1.5 per cent copper equivalent from 37 metres, while hole LRD-05 intersected 21 metres at 1.55 per cent copper equivalent from 16 metres down-hole.
Pan Global Resources (PGZ) is currently down 3.85 per cent and is trading at C$0.38 per share at 10:51am EDT.
