In an April 13 research note, Intrynsyc Capital Corp. reviewed new drill results from Pan Global Resources Inc.'s (PGZ.V:TSX.V) La Romana target at its Escacena project in Spain.
Results are from 11 holes drilled during its phase four program, along strike and to the east. Their purpose was to test and confirm mineralization along the Zone C electromagnetic conductor.
"Drilling continues to build out mineralization along strike and at depth," Intrynsyc concluded. "Four hundred meter (400m) stepouts and downdip extensions continue to expand the footprint of mineralization while adding confidence to additional targets along the 2.5 kilometer strike length."
Intrynsyc reported three highlight holes. In the Zone B conductor area, LRD36 returned 23m of 1.06% copper equivalent (Cu eq) from 27m, including 11m of 1.74% Cu eq from 33m.
Hole LRD32, testing the downdip extension of Zone C conductor mineralization, cut 68m of 0.52% Cu eq from 79m, including 4m of 1.42% Cu eq from 79m and 40m of 0.64% Cu eq from 103m.
LRD28, a 400m stepout hole along the Zone C conductor, showed 23.2m of 0.57% Cu eq from 45.8m, including 0.3m of 11.99% Cu eq from 55m.
Overall, Intrynsyc reported, all 11 holes intersected "significant copper mineralization," extending the strike length by 400m and extending the vertical downdip component to 200m.
"What was even more impressive with this round of drilling was the consistent mineralization along the mise-a-la-masse (MALM) conductor axis," the merchant bank wrote.
Holes LRD36, LRD33, LRD31 and LRD28 encountered high grade copper mineralization along significant widths. Mineralization remains open along strike.
"So far drilling has consistently shown a 1:1 correlation between geophysics and mineralization, and thus it may be fair to say we can infer similar mineralization tenor along much of the remaining MALM anomaly," Intrynsyc wrote.
To date, Pan Global defined 800 meters along the anomaly. Another 1,700 meters are untested.
Because of its drill success so far, Pan Global decided to add 10 holes to the 20-hole campaign.
"With an expanded drill program, we look for additional positive drill results expanding mineralization to the west, stepping out on the Zone B conductor where Pan Global has had some of its best results," Intrynsyc wrote.
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Intrynsyc Capital, Pan Global Resources, April 13, 2021
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