Pan Global Resources announces new twin saw-cut channel sampling at surface has verified high-grade gold mineralization, returning 20.2 g/t gold over 5.0 meters.
Underground mapping of historical mine workings has confirmed a substantial widening of the mineralized system at depth at the Providencia target, within the Cármenes Project on the southeastern extension of the Rio Narcea Gold Belt in northern Spain.
"The verification of 20 g/t gold at surface and confirmation of the scale of the extensive sulphide and hematite breccias at the 1,438m Level represent a significant advancement for the Cármenes Project," said Tim Moody, President and CEO. "We are seeing clear evidence that the gold and copper-nickel-cobalt system is growing as we go deeper and it remains wide open for expansion in several directions. With plans to investigate up to 25 additional targets at Cármenes, we are no longer just looking at just a single deposit at Providencia but are focused on exploring a significant mineral district."
Higher confidence systematic twin saw-cut channel sampling has verified and upgraded the previously reported chip sample results of 15 g/t Au over 6m (see March 25, 2026 media release). These latest results include a new bonanza-grade assay at Providencia of 51.2 g/t gold and 1.9 g/t platinum and palladium over 1m. The new channel is approximately one meter uphill from the previous sampling traverse and 70 meters east of the projected surface footprint of the Providencia underground workings.
Expanded drill program
In light of these additional high-grade results, the Company has expanded the current Providencia drill program to eight drillholes for an estimated 1,200 meters. The drill rig is currently testing potential extensions and structural controls of copper-cobalt-nickel sulphide and high-grade gold mineralization.
A detailed program of 800 saw-cut channel samples is currently underway within a newly exposed underground tunnel at the 1,438-meter elevation level in the historical Providencia mine workings. The sampling program is intended to evaluate continuity of the mineralized system and refine the structural model. The new sampling and mapping have identified extensive sulphide-rich breccia and hematite breccia, which are the primary host rocks for copper, cobalt, nickel and gold at Providencia.
Over 180 meters of breccia has been mapped in the walls of the accessible mine workings at the 1,438-meter level. This represents a significant widening of the system footprint to more than 100m x 60m, open laterally and at depth, approximately 30 meters vertically beneath the previously sampled 1,467-meter elevation level.
![Schematic of a polymetallic nodule mining operation. From top to bottom, the three zoom-in panels illustrate the surface operation vessel, the midwater sediment plume, and the nodule collector operating on the seabed. The midwater plume comprises two stages: (i) the dynamic plume, in which the sediment-laden discharge water rapidly descends and dilutes to a neutral buoyancy depth, and (ii) the subsequent ambient plume that is advected by the ocean current and subject to background turbulence and settling.[1] Image: Wikipedia Commons, Kredit: Carlos Muñoz-Royo.](https://www.miningmetalnews.com/sites/default/files/styles/article_frontpage_small/public/media-cover-images/schematic-of-a-polymetallic-nodule-mining-operation-from-top-to-bottom-the-three_2_0.jpg?h=3df05eba&itok=fdvTZ2tH&u=1776673036)
![Schematic of a polymetallic nodule mining operation. From top to bottom, the three zoom-in panels illustrate the surface operation vessel, the midwater sediment plume, and the nodule collector operating on the seabed. The midwater plume comprises two stages: (i) the dynamic plume, in which the sediment-laden discharge water rapidly descends and dilutes to a neutral buoyancy depth, and (ii) the subsequent ambient plume that is advected by the ocean current and subject to background turbulence and settling.[1] Image: Wikipedia Commons, Kredit: Carlos Muñoz-Royo.](https://www.miningmetalnews.com/sites/default/files/styles/related_news_image/public/media-cover-images/schematic-of-a-polymetallic-nodule-mining-operation-from-top-to-bottom-the-three_2_0.jpg?h=3df05eba&itok=My_MmN9i&u=1776673036)
