Spain Gold Discovery Expands
Pan Global Expands Near-Surface Gold Mineralization Over 80 Meters at Cármenes Project, Spain
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Pan Global Resources Inc. has found a continuous high-grade gold zone stretching at least 80 meters at its Providencia target in northern Spain, with channel sampling returning 2.36 grams of gold per tonne over that entire span, according to Edmonton Sun. The results push the known mineralization beyond the old mine workings at the 100%-owned Cármenes Project.
Drilling is already underway, with six holes completed and results still pending, Toronto Sun reported. The company trades on the TSX Venture Exchange under the ticker PGZ.
Underground Sampling Reveals Gold Widens at Depth
Pan Global ran its first systematic channel sampling on the 1438m Level underground — meaning 1,438 meters above sea level inside the existing mine tunnels. The results show the gold zone does not pinch out going deeper. Instead, it gets wider, Calgary Sun reported.
The mineralization remains open in several directions. That means the gold system could extend further along strike, at depth, and laterally. Pan Global has not yet defined its limits.
Breccia System Hosts Gold, Copper, Nickel, and Cobalt
The mineralization sits inside what geologists call a breccia system — a zone of broken, fragmented rock that has been cemented together by mineral-rich fluids. This type of structure can host multiple metals at once, Chatham Daily News reported.
Pan Global is targeting not just gold but also copper, nickel, and cobalt within this system. The current program aims to map the geometry of the breccia and understand what structural controls concentrate the high grades.
Six Drill Holes Completed, Results Still Pending
The company has finished drilling six holes into the Providencia target. None of those assay results have come back yet, Brantford Expositor reported. Investors are watching closely, as drill results will show whether the channel sampling grades hold up in three dimensions.
Channel sampling — where workers cut a continuous groove across rock faces and collect material — gives a surface snapshot of grades. Drill cores will confirm whether those grades extend into the rock mass at depth.
Cármenes Project Builds on Historical Spanish Mining
The Cármenes Project sits in the Cantabrian Mountains of northern Spain. The area has a long history of small-scale mining, which is why old mine workings already exist at Providencia. Pan Global owns 100% of the project, Market Screener reported.
The new results expand the known gold zone beyond what previous miners ever mapped. That is a key signal for Pan Global — it suggests the historical operations only scratched the surface of a larger system.
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