# PAN GLOBAL COMMENCES 2026 DRILL PROGRAM AT ESCACENA PROJECT, SPAIN Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/pan-global-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0 Original source: https://money.tmx.com/en/quote/PGZ/news/8005679125622158/pan-global-commences-2026-drill-program-at-escacena-project-spain Publisher: tmx Original announcement: 2026-02-23T12:27:00.000Z 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: Tin, Silver, Gold, Zinc - Document categories: Resource update, Drill results, Other - Extracted: 2026-09-12 18:48:51 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Pan Global Resources has commenced its 2026 drill program at the Escacena Project in Spain, starting with the El Pozo VMS target. The program aims to test mineralization beneath historical mine workings and expand the company's copper resource base. Reasoning: The company is initiating a new drill campaign at a high-potential VMS target \(El Pozo\) with strong geophysical and geochemical indicators, though no new assay results are yet reported. - Positive factor: commencement of new drill program - Positive factor: large scale VMS target - Positive factor: coincident geophysics and geochemistry - Positive factor: proximity to existing resources 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 Escacena Project includes maiden Mineral Resource Estimates for La Romana and Cañada Honda. Evidence · text > Escacena Project Maiden Mineral Resource Estimates **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release provides detailed QA/QC information including lab names \(ALS\), methods \(fire assay, ICP-AES\), and use of standards and check assays. Evidence · text > Analyses are repeated on 1 per 20 samples, and standards inserted to check for deviation. ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Drill Results (1) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-drill-facts-0) Needs review: drill\_no\_hole\_id #### Identity - Region: spain - Reported Region: spain - Ticker: PGZ #### Classification - Sample Type: drill #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, check\_assays #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Announcement of the start of a new drilling campaign. - Positive factor: new drilling activity Evidence · text > commencement of drilling at the El Pozo target #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (7) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-1) La Romana · copper #### Identity - Project: La Romana - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:c55a86c38a170744afed - Deposit or zone: La Romana - Ownership percent: 100 % #### Resource Data - Category: measured - 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 - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Existing Measured and Indicated resource component for La Romana. - Positive factor: large tonnage Evidence · text > La Romana Measured and Indicated : 32.4 Mt at 0.37% Cu #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-2) La Romana · tin #### Identity - Project: La Romana - Commodity: tin - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:c55a86c38a170744afed - Deposit or zone: La Romana - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32400000 - Grade: 270 - Grade Unit: ppm - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Byproduct tin grade in La Romana resource. Evidence · text > 32.4 Mt at 0.37% Cu, 270 ppm Sn #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-global-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-3) La Romana · silver #### Identity - Project: La Romana - Commodity: silver - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:c55a86c38a170744afed - Deposit or zone: La Romana - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32400000 - Grade: 1.7 - Grade Unit: g/t - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Byproduct silver grade in La Romana resource. Evidence · text > 32.4 Mt at 0.37% Cu, 270 ppm Sn, 1.7 g/t Ag #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-4) La Romana · copper #### Identity - Project: La Romana - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:13f4aa49304c57ab8c75 - Deposit or zone: La Romana - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4000000 - Grade: 0.4 - Grade Unit: % - Cutoff Grade: 0.2 - Cutoff Unit: % copper #### Metal Equivalent - Metal Eq. Grade: 0.42 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Inferred resource component for La Romana. Evidence · text > Inferred : 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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-5) Cañada Honda · gold #### Identity - Project: Cañada Honda - Commodity: gold - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:d803a2618915f3984698 - Deposit or zone: Cañada Honda - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 0.65 - Grade Unit: g/t - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Metal Equivalent - Metal Eq. Grade: 0.74 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Inferred resource component for Cañada Honda. Evidence · text > Cañada Honda Inferred : 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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-6) Cañada Honda · copper #### Identity - Project: Cañada Honda - Commodity: copper - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:d803a2618915f3984698 - Deposit or zone: Cañada Honda - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Byproduct copper grade in Cañada Honda resource. Evidence · text > 5.0 Mt at 0.65 g/t Au, 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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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-commences-2026-drill-program-at-escacena-project-spain--cd068d75-2c53-4da9-8184-7d5e67eddbc0#fact-resource-facts-7) Cañada Honda · silver #### Identity - Project: Cañada Honda - Commodity: silver - Region: spain - Reported Region: Spain - Ticker: PGZ #### Resource scope - Estimate type: resource - QP Signed: Yes - Resource group id: resource:d803a2618915f3984698 - Deposit or zone: Cañada Honda - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 1.2 - Grade Unit: g/t - Cutoff Grade: 0.25 - Cutoff Unit: g/t gold #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-23T00:00:00.000Z Reasoning: Byproduct silver grade in Cañada Honda resource. Evidence · text > 5.0 Mt at 0.65 g/t Au, 0.14% Cu, 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 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **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 ## 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.