PAN GLOBAL REPORTS 29.8 G/T GOLD OVER 3.0 METERS AT PROVIDENCIA AND COMMENCES FOLLOW-UP DRILL PROGRAM, CÁRMENES PROJECT, SPAIN
MWN-AI** Summary
Pan Global Resources Inc. has announced a significant discovery of high-grade gold at its Cármenes Project in northern Spain, specifically at the Providencia target. Recent surface channel sampling revealed a remarkable assay of 29.8 g/t gold over 3.0 meters, part of a broader interval of 6.0 meters averaging 15.0 g/t. The peak result from the sampling included an impressive 43.8 g/t gold over 1.0 meter. This discovery comes alongside the presence of notable platinum and palladium values, further indicating the area's mineral richness.
The company has initiated a follow-up drilling program, consisting of seven drill holes totaling 1,000 meters, aimed at assessing the continuity and extent of the high-grade gold mineralization from previous work conducted in 2025. Tim Moody, President and CEO of Pan Global, highlighted that the outstanding surface gold results have directly shaped the design of the current drilling strategy. The goal is to thoroughly evaluate the horizontal and vertical structure of the mineralization.
Additionally, channel sampling is progressing in a newly uncovered underground tunnel, approximately 30 meters below prior sample levels, to further clarify the mineralized system's continuity. More than 20 new geochemical and geophysical targets have also been identified across the broader project area, indicating substantial exploration potential.
The Providencia target is interpreted as a structurally controlled epithermal breccia, historically rich in minerals. Cármenes Project's strategic location within the Rio Narcea Gold Belt augments its favorable exploration prospects, and with a promising drilling campaign underway, Pan Global is well-positioned to advance its exploration objectives. Results from the ongoing drilling and underground sampling are expected to be released in due course.
MWN-AI** Analysis
Pan Global Resources Inc. has recently released impressive assay results from its Cármenes project in Spain, reporting a remarkable 29.8 g/t gold over 3.0 meters at the Providencia target. This high-grade discovery, along with significant polymetallic values including platinum and palladium, underscores the potential for robust mineralization in this region, previously mined between the 1930s and 1970s.
Investors should consider several factors when assessing Pan Global's future performance in light of these developments. First, the commencement of a follow-up drill program comprising 1,000 meters across seven holes is a vital step in establishing the continuity and depth of the gold mineralization, potentially defining a new high-grade resource. Success in this program may lead to increased investor confidence and an upward trajectory in the stock.
The Cármenes project is situated within the Rio Narcea Gold Belt, a region known for its mineral wealth, making it a favorable jurisdiction for mining activities. The likelihood of discovering additional mineralized zones could catalyze interest from both institutional and retail investors. Moreover, with copper's ongoing demand linked to the energy transition, and gold maintaining its position as a safe-haven asset, Pan Global is strategically positioned to capitalize on rising market trends.
However, potential investors should also be wary of risks, including operational challenges and market volatility. It is recommended to monitor the results of the current drilling program closely, as positive findings could act as a significant price catalyst, while any unfavorable results could impact shares negatively.
In summary, Pan Global Resources presents a compelling opportunity for those looking to invest in emerging mining projects, particularly given the promising results at Providencia and the strategic importance of the Cármenes project. The company warrants close attention as further developments unfold in 2026.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
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.
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FAQ**
How do the recent high-grade gold results at Providencia from Pan Global Resources Inc. (PGZFF) compare to previous findings in the Cármenes Project, and what implications do they have for the project's overall potential?
Could you provide more details on the design and goals of the current 1,000-meter drill program by Pan Global Resources Inc. (PGZFF) at the Providencia target, especially in terms of continuity and orientation of the mineralization?
What specific methods are being employed for channel sampling in the newly exposed underground tunnel, and how do Pan Global Resources Inc. (PGZFF) plan to ensure the accuracy and reliability of these results?
Given the mineralization patterns identified at the Cármenes Project, how does Pan Global Resources Inc. (PGZFF) plan to leverage the data from both surface and underground sampling to identify future drilling targets across the broader area?
**MWN-AI FAQ is based on asking OpenAI questions about Pan Global Resources Inc (OTC: PGZFF).
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