08:41 AM EDT, 10/20/2025 (MT Newswires) -- Pan Global Resources ( PGZFF ) said Monday that drilling has re-started at the Carmenes project in northern Spain where four drillholes are planned to follow-up the "highly encouraging" gold discovery from the Phase 1 drill campaign at the Providencia target. The Phase 2 program is expected to be completed before year-end.

"Phase 2 drilling is now underway at the Providencia target after intercepting significant near-surface gold mineralization in the initial drill program earlier this year. This program aims to better understand the geometry by testing for extensions of the gold-rich breccia and high-grade copper-nickel-cobalt mineralization," said chief executive Tim Moody.

The Phase 1 program in the Carmenes Project included six drillholes at the Providencia target resulting in the new gold discovery with intercepts of 1.08 g/t gold over 46 meters (hole PVD02) and 3.01 g/t gold over 34 meters (hole PVD06).