Pan Global Resources is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development, with a focus on the multi-target Escacena Project, which comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt (IPB). The IPB is a prolific volcanogenic massive sulphide (VMS) district and tier one mining jurisdiction with a number of significant producing copper and polymetallic mines. Escacena is located 35 km northwest of Seville, near the operating mines at Las Cruces (FQM) and Riotinto (Atalaya) and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico has plans to restart in 2023. The Company recently approved a 2023 budget that includes a 20,000-meter drill program at Escacena.
The 100%-owned Escacena Project comprises a large, contiguous, 5,760-hectare land package 35km northwest of Seville in the east of the Iberian Pyrite Belt (IPB). The IPB is a prolific volcanogenic massive sulphide (VMS) district and tier one mining jurisdiction with a number of significant producing copper and polymetallic mines.
The La Romana copper-tin-silver discovery at Escacena is near the operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with mining planned to restart in 2023.
Escacena has been the focus of Pan Global’s exploration since the copper-tin-silver discovery was made at the La Romana target in late 2019. To the end of 2022, the Company had completed approximately 140 drill holes at La Romana with mineralization found in almost every hole. For 2023, Pan Global has approved a fully funded 20,000-meter drill program at Escacena.
The 2023 plan is expected to include more than 50 additional drill holes, including a 10-hole stepout and infill drill program at La Romana begun in January targeting electromagnetic anomalies, further testing the continuity and potential down-dip extensions of the mineralization.
The Escacena Project is a rarity both in Europe and globally. It is located in the Iberian Pyrite Belt (IPB), the most prolific Volcanic Massive Sulphide (VMS) district in the world and home to seven operating mines owned by companies such as First Quantum, Lundin, and Sandfire MATSA. The south of Spain has a mining history of more than 2,000 years and has good power and access infrastructure as well as a skilled workforce. VMS deposits are often found in clusters and the Escacena Project has more than a dozen targets that Pan Global is actively drilling in priority.
The La Romana copper-tin-silver discovery has a remarkable profile that is different than a typical VMS deposit:
• While many of the current mines as well as new discoveries are at deeper depths, La Romana is near-surface, with a predictable orientation of 35’-40’.
• The first drill holes were immediate discovery holes with near-surface mineralization.
• Almost 100% hit rate for mineralization from drilling to date at La Romana.
• Assay results to date show significant tin grades, rare but not unheard of in the IPB.
• Preliminary metallurgical tests indicate that there are low quantities of deleterious minerals, which can be costly and complicated to remove, and the deposit is low in pyrite and elements such as zinc.
• Pan Global's Board of Directors and Leadership Team bring decades of knowledge and global exploration experience to the Company. The team has led their respective organizations to successful exit strategies or into production, generating hundreds of millions in shareholder value.