TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU
- 29.8 g/t gold over 3.0 meters within 6.0 meters grading 15.0 g/t gold from surface sampling at Providencia
- High-grade polymetallic values include 43.8 g/t gold, 1.06 g/t platinum and 0.82 g/t palladium over 1.0 meter
- Follow-up drill-program underway with 1,000 meters across seven drillholes
- Channel sampling in-progress in newly exposed underground tunnel
VANCOUVER, BC, March 25, 2026 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to announce high-grade gold results from recent surface sampling and commencement of a seven-hole, 1,000-meter follow-up drill program at the Providencia target ("Providencia") within the Cármenes Project ("Cármenes") in northern Spain.
Continuous rock chip channel sampling across newly exposed surface bedrock at Providencia returned 3.0 meters grading 29.8 g/t gold within a broader interval of 6.0 meters grading 15.0 g/t, including a peak assay value of 43.8 g/t gold over 1.0 meter (see Table 1 below). The assay results also confirm anomalous platinum and palladium. These results provide additional confirmation of significant near-surface high-grade gold mineralization and have been used to define priority targets for the current drill program.
"The exceptionally high-grade gold mineralization at surface at Providencia has directly informed the design of the current drill program. Initial drilling in 2025 demonstrated a near-surface gold discovery, and ongoing work is focused on evaluating the continuity, orientation, and extent of the gold mineralization along strike and at depth. With drilling underway and additional underground sampling in progress, Pan Global is systematically advancing our understanding of this compelling European gold discovery," said Tim Moody, President and CEO.
Channel sampling is also underway within a newly exposed lower underground tunnel where breccia-hosted sulphide mineralization has been identified. The tunnel is approximately 30 meters below previous underground sampling. This work is intended to evaluate continuity of the mineralized system and refine the structural model.
Results from both the drill program and underground channel sampling will be released as they become available.
Technical Overview
The Providencia target is interpreted as epithermal breccia and structurally controlled gold mineralization. Surface trenching and channel sampling exposed near-surface mineralized zones while drilling in 2025, confirmed continuity of high-grade gold mineralization both at depth and beyond historical mine workings.
Table 1 – Providencia Surface Channel Sampling Results
Sample |
Sample |
Sample Length |
Au |
Pt |
Pd |
ID |
Number |
meters |
g/t |
g/t |
g/t |
1 |
D825251 |
1.0 |
0.08 |
0.0 |
0.01 |
2 |
D825252 |
1.0 |
0.33 |
0.04 |
0.02 |
3 |
D825253 |
1.0 |
30.20 |
0.80 |
0.55 |
4 |
D825254 |
1.0 |
15.35 |
0.87 |
0.82 |
5 |
D825255 |
1.0 |
43.80 |
1.06 |
0.82 |
6 |
D825256 |
1.0 |
0.30 |
0.01 |
0.01 |
7 |
D825257 |
1.0 |
0.15 |
0.01 |
0.01 |
Samples 2 to 7 |
6.0 |
15.02 |
0.46 |
0.37 |
|
Samples 3 to 5 |
3.0 |
29.78 |
0.91 |
0.73 |
|
Notes:
- Reported intervals represent sampled lengths, true widths unknown
- Chip channel sample results are selective in nature and may not be representative of overall mineralization
In addition, more than 20 new geochemical and geophysical targets have been identified for follow-up sampling and potential drill testing across the broader Cármenes Project area.
About the Cármenes Project
The Cármenes Project is located on the Rio Narcea Gold Belt approx. 55km north of León and comprises five Investigation Permits over 5,653 hectares held 100% by Pan Global. The Project area is highly prospective for multiple bodies or "clusters" of carbonate-hosted hydrothermal breccia style copper, nickel, cobalt, and gold mineralization. The area includes the former Profunda and Providencia mines that last operated in the 1930s, producing concentrates of copper and cobalt with nickel. Numerous other smaller historical mine workings in the area highlight the potential for additional breccia mineralization. These types of ore deposits can have significant vertical dimensions exceeding 1km. The Company's maiden drill program in 2025 at the Providencia target yielded a new gold discovery.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company's flagship Escacena Project, hosting La Romana and Cañada Honda copper-tin-gold mineral resources, is in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes in northern Spain, is an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mining operations. Pan Global Resources is committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
To learn more about Pan Global Resources, please visit the Company's Curation Connect showcase and explore AI-generated responses to your enquiries at https://app.curationconnect.com/company/Pan-Global-Resources-44037?utm_source=pg_mediareleases
Qualified Persons
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
Sampling, QA/QC and Analytical Procedures
The channel samples were collected across exposed rock face exposed in a surface bulldozer trench. Samples were collected as continuous horizontal rock-chip channels.
Individual sample lengths were approximately 1.0 meter horizontal. Reported intervals represent the cumulative length of consecutive mineralized samples; true widths are unknown. Channel samples are selective in nature and may not be representative of the overall grade or continuity of mineralization.
Samples were placed in sealed bags and delivered to the ALS sample preparation facility in Seville in Spain and assayed at the ALS facility in Ireland. All samples were crushed, split and pulverized using methods CRU-31, SPL-22Y and PUL-31. Gold, platinum and palladium analyses were by 50g Fire Assay – ICP-AES finish (PGM-ICP24). Multi element analysis was undertaken using a 4-acid digest with ICP-AES finish (ME-ICP61). Over-grade gold samples were analyzed using Fire Assay with Gravity Finish (Au-GRA21). A certified reference sample was also inserted as a check.
Forward-looking statements
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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SOURCE Pan Global Resources Inc.
FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, jason@panglobalresources.com / investors@panglobalresources.com, Tel: +1-236-886-9518
