PAN GLOBAL INTERSECTS 6.5M OF 1.22 G/T GOLD AND 14M OF 0.46% COPPER, EXPANDING MINERALIZATION AT CAÑADA HONDA DISCOVERY, ESCACENA PROJECT, SOUTHERN SPAIN
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VMS-style copper and stacked-vein-hosted gold mineralization associated with a 3km-long, coincident gravity and heliborne-electromagnetic target
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Latest drilling confirms copper-gold mineralization continues down-dip to the north, with higher grades coincident with the gravity anomaly
- Multiple stacked-vein-hosted gold intersections, with new intercept grades up to 6.5g/t gold
"These latest drill results testing the northern edge of the gravity target at Cañada Honda have successfully confirmed the down-dip continuation of the copper and gold mineralization and expanded the surface extent to more than 450m x 450m. All the drilling to-date is at the eastern end of a very large, mostly untested, 3km east-west, coincident gravity and heliborne electro-magnetic ("HEM") target. The scale of the geophysics targets, combined with drillhole confirmation that mineralization is associated with the anomaly, suggests Cañada Honda mineralization may be extensive. Next planned drillholes are aiming to test for higher grades and expand the mineralization to the west," said
Drill highlights:
Drillhole CHD14
- 1m at 0.17% Cu, 6.52g/t Au, 5.8g/t Ag from 290m, and
- 6.5m at 1.22g/t Au , 1.4g/t Ag from 315.5m, and
- 14m at 0.46% Cu, 0.16g/t Au, 5.2g/t Ag from 355m
Drillhole CHD16
- 13m at 0.62g/t Au from 239m including
- 1m at 0.65% Cu, 1.92g/t Au, 2.7g/t Ag
- 1m at 5.53g/t Au, 1.1g/t Ag from 322m
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15m at 0.23% Cu, 0.51g/t Au, 1.1g/t Ag from 340m, including
- 1m at 0.14% Cu, 3.55g/t Au, 5.4g/t Ag
Drillhole locations are shown in Figure 1 below. Drillhole assay results are summarized in Table 1 and drillhole collar details are presented in Table 2 below.
The three new holes were drilled along the northern margin of the gravity target, confirming continuation of the mineralization down-dip to the north, including multiple gold intersections. Copper grades appear to be decreasing down-dip and away from the gravity anomaly. Downhole electromagnetic ("DHEM") surveys completed in all three drillholes indicates potential stronger sulphide mineralization up-dip and coincident with the modelled gravity target, consistent with higher copper-gold grades in the previous drilling. The next three planned drillholes will test for higher-grade extensions of the mineralization to the west following vectors from the drill results and geophysics.
Additional drill results will be reported as soon as available from the ongoing drilling, including the La Romana deposit where 183 holes have been drilled to date. In the coming weeks, the Company also anticipates commencing exploration at the large Bravo gravity target east of La Romana.
Table 1 – Cañada Honda Selected Drill Results
Hole ID |
From |
To |
Interval1 |
Cu |
Au |
Ag |
Co |
Pb |
Zn |
m |
m |
m |
% |
g/t |
g/t |
ppm |
ppm |
ppm |
|
CHD14 |
100 |
103 |
3 |
0.07 |
0.37 |
7.2 |
78 |
1673 |
2889 |
and |
134 |
135 |
1 |
0.05 |
1.29 |
11.2 |
36 |
2870 |
5450 |
and |
271 |
272 |
1 |
0.33 |
0.63 |
23.0 |
63 |
4930 |
3160 |
and |
290 |
291 |
1 |
0.17 |
6.52 |
5.8 |
154 |
253 |
201 |
and |
315.5 |
322 |
6.5 |
0.07 |
1.22 |
1.4 |
122 |
30 |
66 |
Incl. |
317.5 |
318.5 |
1 |
0.24 |
1.94 |
4.7 |
275 |
88 |
133 |
and |
356 |
370 |
14 |
0.46 |
0.16 |
5.2 |
74 |
70 |
112 |
Incl. |
360 |
364 |
4 |
0.87 |
0.17 |
10.5 |
109 |
144 |
140 |
Incl. |
362 |
363 |
1 |
1.24 |
0.22 |
21.0 |
66 |
239 |
193 |
CHD15 |
No significant results |
||||||||
CHD16 |
115 |
116 |
1 |
<0.01 |
1.37 |
0.8 |
81 |
118 |
54 |
and |
239 |
252 |
13 |
0.06 |
0.62 |
0.4 |
33 |
5 |
47 |
Incl. |
251 |
252 |
1 |
0.65 |
1.92 |
2.7 |
118 |
24 |
72 |
and |
265.5 |
266.5 |
1 |
0.11 |
1.17 |
3.4 |
216 |
197 |
1200 |
and |
322 |
323 |
1 |
0.03 |
5.53 |
1.1 |
204 |
71 |
54 |
and |
340 |
355 |
15 |
0.23 |
0.51 |
1.1 |
134 |
68 |
145 |
Incl. |
354 |
355 |
1 |
0.14 |
3.55 |
5.4 |
71 |
178 |
632 |
1 Approximate true thickness |
Table 2 – Cañada Honda Drillhole Collar Information
Hole ID |
Easting2 |
Northing2 |
Azimuth (º) |
Dip (º) |
Length (m) |
CHD14 |
737080 |
4156488 |
175 |
-72 |
390.9 |
CHD15 |
737335 |
4156454 |
180 |
-70 |
293.4 |
CHD16 |
737201 |
4156478 |
175 |
-75 |
366.75 |
2 Coordinate system: UTM29N ERTS89 |
About the
About
QA/QC 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 at all times 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 ALS laboratory in
Qualified Persons
Álvaro Merino. Vice President Exploration for
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