(PGZ.V) May 14, 2019 — Pan Global Resources announced results from its first exploration drill program at the Águilas Project in Spain. The company completed 20 wide-spaced drill holes for a total of 2,944 metres in April 2019. This includes 13 drill holes along 4.1 kilometres of the Zumajo Pb-Zn-Ag trend and 7 drill holes along a 5.2 kilometre segment of the Torrubia Cu trend. This is the first drilling on these targets with high metal grades intersected in several drill holes.
Tim Moody, President and CEO, states: “These are encouraging results for the first drill holes in the Aguilas Project. We believe the exploration potential remains significant given the wide spacing and shallow depth of the drill holes completed to date. The drill holes on the Zumajo trend show that the high-grade Pb, Zn and Ag mineralization extends beyond the historical mine workings and remains open in all directions.”
On the Zumajo trend, significant drill results are reported along approximately 1.5 km of strike extending from the San Juan, San Rafael and Dos Centimos mine workings, open down dip and along strike. This includes high grade polymetallic mineralization (Pb, Zn, Ag ± Cu, Au) within an 8 to 20m wide, steeply dipping zone of multi-stage breccia and veins. High grade intervals include up to 16.85% Pb, 1.9% Zn, 85 g/t Ag (22.15% PbEq or 815 g/t AgEq) over 0.6 metres (drill hole VAC-006). The drilling also indicates that Pb and Ag mineralization near the San Luis and San Cayetano mine workings is open along strike and at depth.
The drill holes on the Torrubia trend include 40-90 metre wide intervals of intense multi-stage breccia and hematite-quartz-carbonate alteration. The breccia is anomalous in Cu in each drill hole. The best grades include 2.65% Cu, 125ppm Co and 3 g/t Ag (2.76% CuEq) over 0.8m and 1.65% Cu, 240ppm Co and 2.1 g.t Ag (2.05% CuEq) over 0.7m in the northernmost drill hole, TOR-001. Copper appears to increase to the North where the target remains open and untested. Recent exploration has also extended the Torrubia trend a further 4 km to the south, giving a total strike length of 16 km.
- VAC-002: 17.5m @ 1.66% Pb and 8.5 g/t Ag, including 8.5m @ 3.38% Pb, 0.11% Zn, 0.02% Cu, 17.3 g/t Ag (includes 0.9m @ 5.14% Pb, 0.12% Zn, 0.02% Cu, 34.8 g/t Ag and 1.3m @ 14.85% Pb, 0.11% Zn, 0.04% Cu, 67.1g/t Ag)
- VAC-005: 15.3m @ 0.88% Pb, 0.27% Zn, 6.2 g/t Ag, including 7.85m @ 1.68% Pb, 0.48% Zn, 10.2 g/t Ag (includes 0.85m @ 0.93% Pb, 3.22% Zn, 16.5 g/t Ag and 1.9m @ 6.05% Pb, 29.8 g/t Ag)
- VAC-006: 17.7m @ 0.84% Pb, 0.48% Zn, 5.1 g/t Ag, including 8.6m @ 1.72% Pb, 0.94% Zn, 0.15% Cu, 10.2 g/t Ag, (includes 0.6m @ 16.85% Pb, 1.9% Zn, 0.08% Cu, 85.1 g/t Ag, 0.02 g/t Au and 1.6m @ 1.18% Pb, 1.9% Zn, 0.07% Cu, 7.3 g/t Ag, 0.03 g/t Au)
- ZUM-003: 9.2m @ 2.4% Pb and 9.4 g/t Ag, including 3.4m @ 5.55% Pb, 16.4 g/t Ag
- TOR-001: 16m @ 0.30% Cu, 30.5ppm Co, 0.6 g/t Ag, 0.05 g/t Au , including 0.8m @ 2.65% Cu, 125ppm Co, 3 g/t Ag, 0.004 g/t Au and 0.7m @ 1.85% Cu, 240ppm Co, 2.1 g/t Ag, 0.02 g/t Au; 0.7m @ 0.55 g/t Au