PAN GLOBAL AWARDED LARGE, HIGHLY PROSPECTIVE MINERAL RIGHTS' BLOCK CONTIGUOUS TO ESCACENA PROJECT, SOUTHERN SPAIN
Executive Summary
- Pan Global was awarded three contiguous mineral‑rights blocks (Flores, Rosario, Girasoles) that increase the Escacena Project land base by 74% to >10,000 ha.
- The new area (~4,245 ha) sits on a highly prospective portion of the Iberian Pyrite Belt with numerous untested gravity anomalies targeting VMS‑type copper‑tin‑gold deposits.
- Drilling continues at La Romana, Bravo (Escacena) and Providencia (Cármenes); a contractor has been engaged to complete the La Romana maiden Mineral Resource Estimate by year‑end 2025.
Key Details
- Awarded mineral rights:
- Flores – 1,879.8 ha
- Rosario – 636.7 ha
- Girasoles – 1,728.5 ha
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Total new area: 4,245 ha (expanding Escacena from 5,760 ha to >10,000 ha).
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Strategic significance:
- Area is largely unexplored; historical Exxon (1980s) and Rio Tinto (1990s) work provides limited baseline data.
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Re‑processed wide‑spaced gravity surveys reveal multiple prominent anomalies comparable to those that led to the La Romana discovery.
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Exploration focus:
- Initial exploration will target all untested gravity anomalies after permitting is secured.
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Existing gravity targets show copper mineralization in historic core samples, enhancing discovery potential.
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Drilling program (current):
- Two rigs operating at La Romana and Bravo to expand the copper‑tin‑silver deposit for inclusion in the maiden resource estimate.
- Four initial drill holes at Bravo did not intersect the target; three additional holes are planned on revised gravity/IP anomalies.
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Follow‑up drilling slated for the Providencia gold/copper‑nickel‑cobalt target (Cármenes Project).
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Resource estimate:
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Contractor selected for La Romana maiden Mineral Resource Estimate; still on track for completion by end‑2025.
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Future land package:
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Four additional investigation permits (Inmaculada, Santa Isabel, Santa Micaela I & II) covering 3,888 ha have been applied for, potentially raising total holdings to >13,900 ha.
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Competitive context:
- Expanded Escacena now bordered by major operators First Quantum, Grupo México, Sandfire and Atalaya, underscoring the project's strategic location.
Notable Quotes
“The award of the new mineral rights provides Pan Global access to one of the most promising areas for discovery of large VMS deposits… The new mineral rights adjacent to Escacena greatly enhance the potential to make additional discoveries and help achieve the goal of a cumulative 100 million tonnes of potentially economic mineral resources.” – Tim Moody, President & CEO
Materiality: Material – Positive (significant expansion of land base in a high‑grade district, ongoing drilling, and imminent resource estimate indicate material impact on future valuation).