PAN GLOBAL 2023 ACHIEVEMENTS SET STAGE FOR MILESTONE-RICH 2024 EXPLORATION PROGRAM AT ESCACENA PROJECT, SOUTHERN SPAIN
(Adnkronos) - TSXV: PGZ | OTCQX: PGZFF | FSE: 2EU
VANCOUVER, BC, Jan. 4, 2024 /PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FSE: 2EU) is pleased to provide a summary of milestone achievements in 2023 and plans for 2024. The 2024 Plan will focus on the Company's 100%-owned Escacena Project located in the Iberian Pyrite Belt in southern Spain, a prolific polymetallic volcanogenic massive sulphide (VMS) district and tier one mining jurisdiction.
"The Pan Global team delivered on key objectives in 2023 for the Company's flagship Escacena Project. The dimensions of the La Romana copper-tin-silver mineralization were increased significantly, further de-risking the project. Preliminary metallurgy tests confirmed industry-leading copper recoveries. In addition, the team made a new copper-gold discovery at the highly prospective Cañada Honda target. Plus, the pipeline of new exploration targets at Escacena was bolstered during the year following extensive detailed geophysics," said Pan Global President and CEO Tim Moody.
"With funds in place to advance the Escacena Project in 2024, investors should expect regular news flow. Results from additional drilling at La Romana are expected to further expand the western and northern extents of the La Romana mineralization in advance of a maiden mineral resource estimate. Drilling at the Cañada Honda target is also expected to expand the discovery, and plans are in place to commence exploration at the Bravo target east of La Romana as soon as we have access to the farm. We are well positioned for an exciting year expanding our two discoveries at Escacena and advancing a growing pipeline of exploration targets," said Mr. Moody.
The 2024 plan will focus on:
Pan Global Resources Inc. is actively targeting copper-rich mineral deposits, given copper's compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. The Company's flagship Escacena Project is located 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 jurisdiction for mining investment. The Pan Global team comprises proven talent in exploration, discovery, development, and mine operations - all of which are 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.
On behalf of the Board of Directors
Forward-looking statementsStatements 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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Jason Mercier, VP Investor Relations and Communications, jason@panglobalresources.com, +1 778 372-7101, www.panglobalresources. com
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