Perhaps because it is “hump-day”, and stocks in general are crawling out of the hole that plunging oil prices put them in, the mood on world markets was much merrier Wednesday.
Pan Global Resources Inc. (TSX-Venture:PGZ) reported for all to listen positive results for the first three step-out drill holes (LRD03, LRD04 and LRD05) at the La Romana target in the Escacena Project in Spain’s Iberian Pyrite Belt (not incidentally, but Spain is clamoring for good news of its own, having been ravaged by the coronavirus pandemic worse than many locales).
Assay results for additional step-out drill holes LRD06, LRD7 and LRD8 are pending and will be reported as soon as they become available. Preliminary down-hole electromagnetic (EM) results have also been received.
CEO Tim Moody enthused, “The new step-out drill results at La Romana shows continuity to the copper mineralization and confirms the mineralization extends to within five meters from surface. The discovery of near surface high-grade copper in close proximity to several other mines is significant.”
PGZ gathered two cents, or 15.4%, in noon hour EDT trade, to 15 cents, on volume topping 1.6 million.