12:55 PM EST, 01/27/2025 (MT Newswires) -- Pan Global Resources ( PGZFF ) was slightly higher Monday afternoon after earlier announcing the results from soil and rock sample geochemistry, including follow-up sampling at the Providencia target, in the Carmenes copper, gold, nickel, cobalt project in northern Spain.

In a statement the company said the new high-grade copper, gold and other metals results from Carmenes are "very encouraging".

"The initial soil and rock geochemistry results indicate the footprint of the Providencia breccia pipe mineralization is much larger than previously known, and shows significant gold potential. The grades detected in the soil samples are exceptional, including assays up to 24.3 grams-per-tonne (g/t) gold, and percent levels of copper, nickel, and lead. The rock samples confirm mineralization in outcrop," said President and CEO Tim Moody.

Moody added PGZ is "eagerly awaiting" the results of additional trench and channel sampling completed at the Providencia target, and underground sampling at the Profunda target. "The potential exists for the discovery of addition breccia pipes in proximity to Providencia and other target areas. Two drill rigs are now operating in the company's Escacena Project and a third rig will commence the first ever drillhole within the coming days at Providencia."

Price: 0.13, Change: +0.01, Percent Change: +4.00