High-Grade Critical Metals Discovery Opens New Frontiers in Mining in Spain

Pan Global Resources reports promising drilling results that highlight significant potential for gold, copper, nickel, and cobalt at its Cármenes Project.

Pan Global Resources is pleased to announce encouraging results from drill holes PVD03 and PVD04 as part of its inaugural drilling campaign at the 100%-owned Cármenes Project in northern Spain. This first-ever drilling at the Providencia target confirms a substantial hydrothermal mineralization zone containing high-grade gold, copper, nickel, and cobalt hosted in breccia structures.

Key highlights include drill hole PVD03, which intersected a broad near-surface interval of 56 meters grading 0.37 g/t gold from 29 meters depth, including higher-grade intervals of 10 meters at 1.05 g/t gold and 4 meters at 2.19 g/t gold. Drill hole PVD04 revealed high-grade copper, nickel, cobalt, and selenium within a broader breccia zone with elevated gold grades, including 4 meters grading 0.59 g/t gold, 1.05% copper, 0.22% cobalt, and 0.22% nickel.

“These results significantly expand the breccia-hosted mineralization zone to the east, south, and north of the historic Providencia workings, which remains open in all directions. The presence of gold mineralization in this area had not been previously recognized, adding considerable value to the project,” said Tim Moody, President and CEO of Pan Global.

Additionally, a recently completed helicopter-borne geophysical survey over Cármenes has identified multiple new targets exhibiting similar characteristics to Providencia, indicating strong potential for further discoveries of gold, copper, nickel, and cobalt within the project area.

Key Results:

• PVD03: 56 m at 0.37 g/t Au from 29 m, including: 4 m at 2.19 g/t Au from 81 m.
• PVD04: 110 m at 0.23 g/t Au from 8 m, including: 4 m at 0.59 g/t Au, 1.05% Cu, 0.22% Co, 0.22% Ni. 2 m at 0.60% Ni from 113 m.
• Mineralization remains open along all directions.
• Previous drill hole PVD02 intersected 6.27 g/t Au over 4 m, within a broader 46 m interval averaging 1.08 g/t Au (see May 19, 2025 news release).

The next three drill holes will test zones up to 120 meters east of the Providencia workings, including areas with recently reported channel sample results of up to 3.11 g/t gold over 37 meters.