PAN GLOBAL ANNOUNCES 2026 DRILL PROGRAMS AT ESCACENA AND CARMENES PROJECTS, SPAIN
Pan Global Targets 10,000-Meter Campaign to Bridging the Gap Between Maiden Resource and 100Mt Ambition
The February 18, 2026, release outlines Pan Global’s 2026 exploration strategy, headlined by a 10,000-meter diamond drilling program across its Spanish assets. At the flagship Escacena Project, the company aims to expand the existing copper-tin-silver resource base toward a long-stated goal of 100 million tonnes, testing 15 previously untested targets. At the Cármenes Project, the focus is on expanding the recent Providencia high-grade gold discovery and defining its polymetallic (Cu-Ni-Co) potential. Management confirms the program is fully funded following the C$5.6 million strategic investment closed in January 2026.
The news is a routine operational update following a successful capital raise. While positive, it does not fundamentally change the company's valuation today; rather, it sets the stage for potential value creation through the drill bit. - Funding Secured: The primary significance is the confirmation of a "strong treasury." Having just raised C$5.6 million at C$0.16, the company has removed the immediate "going concern" risk that typically plagues juniors in a high-burn exploration phase. - Execution Risk: The company has a significant delta to close. The maiden Mineral Resource Estimate (MRE) released in December 2025 established approximately 37–40 million tonnes (Indicated + Inferred). To reach the 100Mt target, the 2026 program must deliver significant new tonnage at Escacena or prove that Escacena South holds a major new VMS cluster. - Gold Pivot: Cármenes is increasingly becoming a material driver. With recent intercepts like 8m at 3.5 g/t Au and identifying free native gold, success here could offer a higher-margin "kicker" to the base copper story.
Pan Global is a junior explorer focused on copper-rich VMS and polymetallic deposits in Spain. - Flagship Project: Escacena Project (100% owned), located in the Iberian Pyrite Belt adjacent to major mines like Riotinto (Atalaya) and Los Frailes (Grupo Mexico). - Secondary Project: Cármenes Project in Northern Spain, a recent high-grade gold and Cu-Ni-Co discovery. - Resource Base: Maiden MRE (Dec 2025) for La Romana (32.4Mt Indicated @ 0.37% Cu) and Cañada Honda (5Mt Inferred @ 0.65 g/t Au).