PAN GLOBAL COMMENCES PHASE 2 DRILLING AT CANADA HONDA DEPOSIT: PROVIDES ESCACENA PROJECT UPDATE, SPAIN
Pan Global begins a fully funded 20,000-meter drilling campaign at its Cañada Honda project to target district-scale expansion in Spain’s Iberian Pyrite Belt.
Pan Global Resources Inc. (PGZ) has initiated Phase 2 drilling at the Cañada Honda deposit within its Escacena Project in Spain. The initial program consists of eight drillholes totaling approximately 2,500 meters to test extensions of known copper-gold mineralization and new geophysical targets.
Recent high-resolution SQUID IP and Audio Magnetotelluric (AMT) surveys have identified new drill targets at Cañada Honda. A helicopter electromagnetic and magnetic survey is scheduled to commence in July across the Escacena South area. Additionally, recent drilling at the El Pozo target identified narrow high-grade polymetallic intervals associated with chlorite-sericite alteration.
The company has expanded its land package to approximately 16,745 hectares through three new mineral rights applications adjacent to Escacena South. Pan Global Resources Inc. plans a fully funded 20,000-meter drill program over the next 12-to-18 months to test a pipeline of more than 15 priority targets.
Pan Global Resources Inc. (PGZ) has begun Phase 2 drilling at its Cañada Honda project, an expected step following the company’s broader 2026 exploration plan and the $7.2 million financing closed on June 15, 2026. The announcement confirms the company is executing on its stated exploration roadmap without introducing new, unexpected catalysts or financial surprises.
The announcement does not alter the company's financial position or valuation materially, as the drilling program was already funded and scheduled.
Pan Global Resources Inc. (PGZ) is an exploration-stage mining company focused on copper, gold, tin, and silver discoveries in Spain. Its flagship Escacena Project is located in the Iberian Pyrite Belt (IPB), one of Europe's most prolific copper-producing regions, and spans over 16,745 hectares.
Key deposits at the Escacena Project include La Romana, a Cu-Sn-Ag deposit with a maiden Measured & Indicated resource of 32.4 Mt at 0.37% Cu, 270 ppm Sn, and 1.7 g/t Ag. The project also hosts Cañada Honda, a Cu-Au-Ag deposit with an Inferred resource of 5.0 Mt at 0.65 g/t Au.
The company’s secondary asset is the Cármenes Project in northern Spain, which hosts the Providencia target. This target has yielded high-grade gold intercepts, including 29.8 g/t Au over 3.0 m, as well as copper-nickel-cobalt mineralization. Pan Global Resources is positioned in a Tier-1 jurisdiction with favorable permitting, fast-track administration, and proximity to major mining operators and infrastructure.