# PAN GLOBAL ANNOUNCES 2026 DRILL PROGRAMS AT ESCACENA AND C&\#xC1;RMENES PROJECTS, SPAIN Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03 Original source: https://money.tmx.com/en/quote/PGZ/news/5141637276763817/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s Publisher: tmx Original announcement: 2026-02-18T05:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Pan Global Resources Inc. - Ticker: PGZ - Exchange: TSX - Region: Spain - Primary commodity: Copper - Secondary commodities: Gold, Tin, Silver, Nickel, Cobalt - Document categories: Resource update, Drill results, Other - Extracted: 2026-09-12 18:48:23 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Pan Global Resources has announced a 10,000-meter combined drill program for 2026 targeting the Escacena and Cármenes projects in Spain. The program aims to expand the copper resource base at Escacena and follow up on recent gold discoveries at Cármenes. Reasoning: Announcement of upcoming 2026 drill programs across two projects with significant meterage and multiple targets. - Positive factor: large combined drill program \(10,000m\) - Positive factor: multiple high-priority targets - Positive factor: recent strategic investor support - Positive factor: established mining jurisdiction Facts used in scoring: 8 ## Classification and evidence **Maiden Resource** Polarity: neutral Story-specific tag Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The document mentions maiden Escacena Mineral Resource Estimates for La Romana and Cañada Honda. Evidence · text > Announced maiden Escacena Mineral Resource Estimates ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-0) Escacena · copper #### Identity - Project: Escacena - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:1eb1fbe3774f2cf9b338 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32400000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 119.5 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Part of the maiden resource estimate for La Romana. - Positive factor: significant tonnage Evidence · text > La Romana Measured and Indicated : 32.4 Mt at 0.37% Cu, 270 ppm Sn, 1.7 g/t Ag, 0.44% CuEq #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-1) Escacena · tin #### Identity - Project: Escacena - Commodity: tin - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:1eb1fbe3774f2cf9b338 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32400000 - Grade: 270 - Grade Unit: ppm - Contained Metal: 8.8 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Byproduct tin in La Romana resource. Evidence · text > 270 ppm Sn #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-2) Escacena · silver #### Identity - Project: Escacena - Commodity: silver - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:1eb1fbe3774f2cf9b338 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32400000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 1.7 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Byproduct silver in La Romana resource. Evidence · text > 1.7 g/t Ag #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-3) Escacena · copper #### Identity - Project: Escacena - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:1eb1fbe3774f2cf9b338 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32400000 - Grade: 0.37 - Grade Unit: % - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Metal Equivalent - Metal Eq. Grade: 0.44 - Metal Eq. Unit: % CuEq #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Primary copper grade for La Romana M&I. Evidence · text > 0.37% Cu #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-4) Escacena · copper #### Identity - Project: Escacena - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:61b8712123ed00eccdc7 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4000000 - Grade: 0.4 - Grade Unit: % - Contained Metal: 15.8 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Inferred portion of La Romana resource. Evidence · text > 4.0 Mt at 0.40% Cu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-5) Escacena · gold #### Identity - Project: Escacena - Commodity: gold - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2091ce51e4fabfd0f9c3 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 0.65 - Grade Unit: g/t - Contained Metal: 104 - Contained Unit: koz - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Metal Equivalent - Metal Eq. Grade: 0.74 - Metal Eq. Unit: g/t AuEq #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Inferred gold resource at Cañada Honda. Evidence · text > 5.0 Mt at 0.65 g/t Au #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-6) Escacena · copper #### Identity - Project: Escacena - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2091ce51e4fabfd0f9c3 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 0.14 - Grade Unit: % - Contained Metal: 6.8 - Contained Unit: kt - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Byproduct copper in Cañada Honda resource. Evidence · text > 0.14% Cu #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-announces-2026-drill-programs-at-escacena-and-c-xc1-rmenes-projects-s--630f1423-e6e5-482c-8429-70cf8da24b03#fact-resource-facts-7) Escacena · silver #### Identity - Project: Escacena - Commodity: silver - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:2091ce51e4fabfd0f9c3 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 1.2 - Grade Unit: g/t - Contained Metal: 0.2 - Contained Unit: moz - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-18T00:00:00.000Z Reasoning: Byproduct silver in Cañada Honda resource. Evidence · text > 1.2 g/t Ag #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.