Pan Global Resources Inc. (TSXV: PGZ; OTCQB: PGZFF; FRA: 2EU) has reported new drill results from its Phase 3 programme at the Providencia target within its 100%-owned Cármenes project in northern Spain. Hole PVD15 intercepted 15 metres grading 3.90 g/t gold, 0.04% copper, 0.11% nickel, and 0.12% cobalt from surface — the strongest gold intersection of the current drill campaign. The results suggest that high-grade gold and polymetallic mineralisation extends well beyond the limits of historical mine workings, with the system remaining open along strike and at depth. Investors may be watching for follow-up drill results from holes PVD16 through PVD19, for which assays are pending.

Key Points

  • Pan Global Resources Inc. (TSXV: PGZ; OTCQB: PGZFF; FRA: 2EU)
  • Drill hole PVD15 returned 15 metres at 3.90 g/t gold from surface, including 1 metre at 18.55 g/t gold with 1.39 g/t platinum and 0.74 g/t palladium
  • Phase 3 campaign expanded from 8 to 12 holes; assay results pending for holes PVD16 to PVD19
  • A new copper anomaly identified 400–800 metres southwest of Providencia; gold assays from that zone are pending

PVD15 Delivers Highest Gold Grade of Current Drill Campaign at Providencia

Hole PVD15 intersected mineralisation from surface, confirming high-grade gold beneath previously reported surface channel sampling that returned 20.18 g/t gold over 5 metres. The 15-metre interval grading 3.90 g/t gold includes an 8-metre sub-interval at 6.79 g/t gold, 0.50 g/t platinum, and 0.28 g/t palladium, and a 1-metre peak of 18.55 g/t gold with 2.13 g/t combined platinum and palladium. The release states that the gold-copper-cobalt-nickel and platinum-group element association, together with a hematite and carbonate breccia matrix, is consistent with a concentrated hydrothermal system that the company considers a priority for follow-up drilling.

Additional Holes Confirm Polymetallic Continuity Beyond Historical Workings

Results from holes PVD12 through PVD14 further demonstrate continuity of gold and copper-nickel-cobalt mineralisation around the historical Providencia mine. PVD14 intersected 39 metres at 0.35 g/t gold from 7 metres depth and 7.1 metres at 0.30 g/t gold with 0.27% copper beyond a 2.2-metre historical mining void that may itself have contained ore. PVD13 and PVD12 tested the interpreted western and northern margins of the breccia-hosted system, each returning multi-metal intervals. Drillhole PVD11 did not return significant results, the announcement states.

Expanded Soil Geochemistry Identifies New Southwest Target at Cármenes

Pan Global has widened its soil geochemistry programme around the Providencia and Profunda targets. Portable XRF analysis identified a new copper anomaly located approximately 400 to 800 metres southwest of Providencia, associated with strong dolomitic alteration and a dolomite-calcite cavity breccia — geological features the company considers promising for additional Providencia-style mineralisation. Laboratory gold assays for that zone are pending. The company now lists more than two dozen prioritised exploration targets across the broader Cármenes project, and a second drill rig is active at the Cañada Honda copper-gold target at its separate Escacena project in southern Spain.