11:58 AM EST, 12/11/2024 (MT Newswires) -- Pan Global Resources ( PGZFF ) on Wednesday released positive metallurgical test results from the second phase tin metallurgy test program, with the successful recovery of additional tin from the gravity tailings at the La Romana copper-tin-silver discovery in the Escacena Project, in southern Spain.

"The tests show La Romana tin mineralization is well suited to conventional gravity separation to produce high-quality, marketable tin concentrate. These results further enhance our view that the tin mineralization could meaningfully add to the overall project economics and de-risking," said Pan Global Chief Executive Tim Moody.

Following the success in recovering additional tin from the finer fraction of the gravity tails, a mass balance calculation was performed by Minepro to simulate what might be achieved under closed-circuit conditions, which gave a projected final tin concentrate grade of 63.2%, and tin recovery rates of 63.9%, the company said in a statement.

Pan Global said next steps could include closed-circuit testing, such as pilot plant trials on larger volumes of material to optimize concentrate grades and recoveries for pre-feasibility/feasibility studies.

Shares of the company were last seen up $0.005 to $0.10 on the TSX Venture Exchange.

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