Junior Miner Delivers Impressive Maiden Drill Results

With gold trading near record highs, investors are eagerly watching for companies delivering fresh updates on the metal. Today, one such company reported impressive new gold results.

This morning, Pan Global Resources Inc. (TSX-Venture: PGZ)(OTCQB: PGZFF) released strong near-surface gold results from its maiden drilling program at the Providencia target, part of the company’s 100%-owned Cármenes Project in northern Spain. Hole PVD06 returned 34.0 meters grading 3.01 g/t gold starting from 131 meters downhole, including a standout interval of 5.0 meters at 8.93 g/t gold and a peak assay of 17.6 g/t gold over 1 meter. Other notable intercepts included 2.0 meters at 15.18 g/t gold with platinum and palladium credits, 4.7 meters at 5.65 g/t gold, and 2.0 meters at 7.15 g/t gold. The drilling confirmed mineralization hosted within hematitic, brecciated carbonate rocks carrying disseminated sulfides, extending the gold zone 70 meters east of earlier hole PVD02.

The company highlighted that mineralization remains open in multiple directions, with assays still pending for hole PVD07, which tested beneath a surface trench averaging 1.7 g/t gold over 20 meters. Hole PVD05 intersected dolomite breccia consistent with the alteration model but did not return significant assays. The results underscore the potential to expand high-grade gold mineralization east of historical mine workings, while also supporting the broader exploration model for copper, cobalt, and nickel sulphide breccias at the site. Pan Global continues active exploration at its flagship Escacena Project, with drilling ongoing at La Romana and set to restart at the Bravo target in the near term.

"The new results expand the near-surface breccia-hosted gold mineralization east of the historical mine workings and include the highest-grade gold intercept at Providencia to-date. These are the first drill results testing an area with highly anomalous gold-in-soil samples, trench and channel sampling results east of Providencia. The near surface gold mineralization intercepted in hole PVD06 extends to surface and is wide-open," said Tim Moody, Pan Global's President and CEO.

Shares of PGZ are currently trading even at $0.13, while U.S. listed shares are up 3.7% at $0.098 in late-morning trading.

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