Escacena North: Step-out drilling underway at the Cañada Honda deposit where previous drilling intersected significant copper-gold and most of the 3 km-long target remains untested
Escacena North: Multiple new drill targets generated across Cañada Honda corridor from recent geophysical and geochemical surveys
Escacena South: Helicopter EM plus magnetic survey commences in July
VANCOUVER, BC, June 29, 2026 /PRNewswire/ -- Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) (FRA: 2EU) is pleased to provide an exploration update from its 100%-owned Escacena Project ("Escacena" or the "Project") in the Iberian Pyrite Belt of southern Spain, including expansion of the project area, a helicopter geophysics survey at Escacena South, commencement of Phase 2 drilling at the Cañada Honda copper-gold deposit, encouraging results from recently completed geophysical and geochemistry surveys, and continued advancement of exploration targets across the Project.
Figure 1 – Escacena Project gravity anomaly map showing Cañada Honda, La Romana, Escacena South (expanded) and priority exploration targets
Figure 2 – Cañada Honda and El Pozo gravity anomalies showing SQUID IP and AMT anomalies and drillhole locations (see Figure 3)
Figure 3 – SQUID IP cross-section (Line CH4) highlighting high chargeability drill targets adjacent to the gravity anomaly
Figure 4 – Soil gold geochemistry and priority target areas across the Cañada Honda and El Pozo corridor
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"Escacena continues to grow as a district-scale copper exploration project, with a significantly expanded land position, more than 15 priority targets and a fully funded 20,000-meter drill program planned over the next 12-to-18 months to systematically test the Company's growing pipeline of targets," said Tim Moody, President and CEO of Pan Global Resources.
"A new phase of drilling has commenced at Cañada Honda, where previous drilling intersected significant copper-gold mineralization on only a small portion of a three-kilometer-long target. Recent geophysical and geochemical surveys have generated additional drill targets and continue to highlight the potential for new discoveries across the broader Escacena Project."
Escacena Project Expansion and New Exploration Programs
Three new mineral rights applications (total 2,853 hectares) have been submitted adjacent to the Company's highly prospective Escacena South area. Together with the recently awarded Escacena South area, the applications expand the Escacena Project area to approximately 16,745 hectares.
A helicopter electromagnetic and magnetic survey is scheduled to commence in July across much of the Escacena South area to accelerate target prioritization and assist in identifying concealed sulphide mineralization.
Exploration permitting continues to advance across Escacena South. The Trinidad and Carmen targets, where historical mine workings and surface massive sulphide occurrences coincide with prominent gravity anomalies, have been identified as priority drill targets once final permits are received.
Phase 2 Drilling Commences at Cañada Honda
A new phase of drilling has commenced at the Cañada Honda deposit, comprising an initial eight drillholes totalling approximately 2,500 meters. The program is designed to test extensions to known copper and gold mineralization and newly identified geophysical and geochemical anomalies.
Cañada Honda is associated with a 3 km-long coincident gravity and Helicopter Electro Magnetic ("HEM") resistivity-low anomaly located 4 km north of the Company's La Romana copper-tin-silver deposit. Previous drilling comprised 16 widely spaced drillholes, focussed primarily on the eastern portion of the target, leaving most of the target untested.
20.0 m grading 0.5% Cu and 0.8 g/t Au, including 5.1 m grading 1.3% Cu and 0.5 g/t Au (CHD05);
20.0 m grading 1.1 g/t Au (CHD09); and
5.6 m grading 1.15% Cu (CHD10).
Subsequent drilling demonstrated continuity of mineralization from surface to at least 600 meters down-dip, and mineralization remains open at depth and along strike.
Assay results from the current drill programs will be released as they become available.
Geophysical and Geochemical Surveys Generate New Drill Targets
Recent high-resolution SQUID IP and Audio Magnetotelluric ("AMT") surveys completed over a portion of Cañada Honda have identified several new drill targets adjacent to the modelled gravity anomaly. These surveys provide an opportunity to detect mineralization at greater depths compared to conventional IP.
Coincident chargeability-high and resistivity-low anomalies are interpreted to represent favourable zones for sulphide mineralization and support the potential for a more extensive mineralized corridor as well as provide additional targets for the current drill program.
Additional SQUID IP and AMT survey coverage is planned across the remainder of the 3 km-long anomaly to further refine drill targeting.
Expanded soil geochemistry has also identified multiple untested gold anomalies associated with known mineralization and fault corridors extending across the broader Cañada Honda and El Pozo trend. Follow-up exploration is underway.
Results from recent drilling at El Pozo, including a narrow high-grade polymetallic interval (Table 1) and multiple sulphide-bearing intervals associated with strong chlorite-sericite alteration, support the increasing prospectivity of this corridor and a large untested gravity anomaly north of the current drill area.
Next Steps
Ongoing Phase 2 drilling at Cañada Honda
Follow-up testing of newly identified geophysical and geochemical targets
Completion of the helicopter EM and magnetic survey at Escacena South
Advancement of permitting of Escacena South for initial drill testing at the Trinidad and Carmen targets
Continued evaluation of additional priority targets across the expanded Escacena Project area
Table 1 - Assay results from PZD04 include:
Hole
From (m)
To
(m)
Interval (m)
Ag (g/t)
Au (g/t)
Cu (%)
Pb (%)
Zn (%)
Sb (%)
PZD04
101.0
102.2
1.2
440
0.93
0.85
0.40
0.10
0.52
Table 2– El Pozo Drillhole Collar Information
Hole ID
Easting 1
Northing 1
Azimuth (o)
Dip (o)
Length (m)
PZD02
735081
4155447
180
-75
160.5
PZD03
735087
4155204
180
-75
283.3
PZD04
735067
4155610
180
-65
226.1
1 Coordinate system: UTM29N ERTS89
About the Escacena Project, Southern Spain
The Escacena Project, recently added Escacena South area and new application areas, together comprise a mineral rights land package covering more than 16,745 hectares controlled 100% by Pan Global in the east of the Iberian Pyrite Belt, Europe's second-largest copper-producing region. Escacena is located near the operating mine at Riotinto (Atalaya) and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes (Grupo México) is commencing a new underground mine development beneath the former Los Frailes open pit mine. The Escacena Project includes Mineral Resource Estimates at the La Romana copper-tin-silver and Cañada Honda copper-gold deposits and hosts 15 other prospective targets for follow-up.
About Pan Global Resources
Pan Global Resources Inc. is actively exploring for copper-rich mineral deposits along with gold and other metals. Copper has compelling supply-demand fundamentals and outlook for strong long-term prices as a critical metal for global electrification and energy transition. Gold is also attracting record prices.
The Company's flagship Escacena Project, hosting La Romana and Cañada Honda copper-tin-gold mineral resources, is in the prolific Iberian Pyrite Belt in southern Spain, where a favourable permitting track record, excellent infrastructure, mining and professional expertise, and support for copper as a Strategic Raw Material by the European Commission collectively define a tier-one low-risk jurisdiction for mining investment. The Company's second project, at Cármenes in northern Spain, is an area with a long mining history and excellent infrastructure. The Pan Global team comprises proven talent in exploration, discovery, development, and mining operations. Pan Global Resources is committed to operating safely and with utmost respect for the environment and our partnered communities. The Company is a member, and operates under the principles, of the United Nations Global Compact.
Álvaro Merino, Vice President Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information for this media release. Mr. Merino is not independent of the Company.
Sampling, QA/QCand Analytical Procedures
Core size was HQ (63mm) and all samples were ½ core. Nominal sample size was 1m core length and ranged from 0.5 to 2m. Sample intervals were defined using geological contacts with the start and end of each sample physically marked on the core. Diamond blade core cutting and sampling was supervised by Company staff. Duplicate samples of ¼ core were taken approximately every 30 samples and Certified Reference materials inserted every 25 samples in each batch.
Samples were delivered to certified and accredited ALS laboratory in Seville, Spain and assayed at the ALS laboratory in Ireland. All samples were crushed and split (method CRU-31, SPL22Y) and pulverized using (method PUL-31). Gold, platinum and palladium analysis was by 50 g fire assay with ICP finish (method Au-ICP-24) and multi element analysis was undertaken using a 4-acid digest with ICP AES finish (method ME-ICP-61). Over grade base metal results were assayed using a 4-acid digest ICP AES (method OG-62).
The soil geochemistry survey includes samples collected from the top 20cm from surface (un-sieved, weighing approx. 1kg) on a 100m x 40m grid across the target areas. Samples were submitted to ALS laboratory in Seville for preparation by method PREP-41. Samples are sieved through a 180-micron mesh screen to remove a large portion of the quartz sand and sent to ALS in Ireland for geochemical analysis using Au-ICP22 (Au; 50g fire assay). More than 2% of the samples submitted to the laboratory include blanks, Certified Reference standards and field duplicates to ensure the compliance with QA/QC protocols of Pan Global Resources. ALS also undertakes its own internal QA/QC analysis to ensure proper sample preparation and equipment calibration
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this media release are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this media release is based on information available to the Company as of the date of this media release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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FOR MORE INFORMATION PLEASE CONTACT: Jason Mercier, VP Investor Relations and Communications, [email protected] / [email protected], Tel: +1-236-886-9518
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