Pan Global Successful in Bid For Rights to Salamon Gold Project, Spain
Pan Global’s bid for the Salamon Gold Project in Spain was accepted, pending an appeal, to expand its Spanish portfolio.
Pan Global Resources Inc. announced that its tender bids for the Salamon Gold Project in Northern Spain have been accepted by the regional Directorate General of Energy and Mines. The acceptance is subject to an ongoing appeal filed by a competing bidder, meaning final confirmation is pending the outcome of the legal challenge.
The Salamon Project comprises two mineral exploration permits covering approximately 532 hectares along the León Fault, located 30 km east of the company's Cármenes Project. Management remains confident the bid will be confirmed, but explicitly states there is no assurance regarding the appeal's disposition.
Pan Global Resources Inc. (PGZ) has acquired contiguous land within a highly prospective structural corridor, a move that expands its exploration-stage portfolio. The transaction adds to the company’s existing Escacena and Cármenes holdings and does not alter current financials, resource estimates, or drilling plans.
However, the acquisition is subject to a pending legal appeal, which introduces near-term uncertainty. Until the appeal is resolved, the rights are not secured, and the company cannot immediately commence exploration or claim the asset.
Pan Global Resources Inc. (PGZ) is an exploration-stage company focused on copper, gold, silver, tin, nickel, and cobalt in Spain. Its flagship projects include the Escacena Project, located in the Iberian Pyrite Belt, and the Cármenes Project, situated in the Madrid region along the León Fault.
The Escacena Project hosts the La Romana and Cañada Honda deposits. La Romana is a copper-tin-silver deposit, while Cañada Honda is a gold-copper-silver deposit. In December 2025, the company announced maiden NI 43-101 resources for La Romana, which contains 32.4 million tonnes of Measured and Indicated resources grading 0.37% copper.
At the Cármenes Project, the Providencia target has yielded high-grade gold intercepts, including 29.8 g/t Au over 3 meters. The company remains in the exploration phase with no revenue, relying on equity financing to fund drilling and land acquisition.