Pan Global Resources (PGZ.V) has confirmed the recent (and ongoing drill program) has extended the known mineralization at Romana West by approximately 150 meters towards the west. The company has released the assay results of six holes drilled on the Romana West zone and some of those holes have some pretty good grades. Hole 164 for instance encountered 16 meters of 0.70% copper-equivalent (consisting of 0.52% copper, 0.06% tin and 1.6 g/t silver)from a depth of just 37 meters downhole.
This also confirms the shallow nature of the mineralization as hole 166 started at a depth of just 7.5 meters downhole where it intersected 14.5 meters of 0.75% copper-equivalent (0.36% copper, 0.15% tin and 1.2 g/t gold). According to the company, the mineralization shows a gently dipping tabular geometry which makes the deposit amenable for open pit mining. Meanwhile, the tin grades appear to increase towards the west, and the deposit also remains open in that direction (and at depth).
Pan Global still has to release the assay results of six holes and according to the press release from last week, some of those holes contained visual copper and tin mineralization so it will be interesting to see the assay results.
Disclosure: The author has a small long position in Pan Global Resources. Please read the disclaimer.
