Aguilas Copper and Lead-Silver Project, Andalucia, Spain
Pan Global has a 100% option to acquire the Aguilas mineral rights from Minera Aguila SLU. The Aguilas Project (Figure 1) includes a new iron-oxide copper ± gold, silver, cobalt and uranium deposit. Results to-date highlight potential for high grade copper associated with multiphase quartz-hematite ± carbonate breccia along the northeast trending Torrubia structure. The project area also contains a series of historical lead-silver mines ± copper, zinc, uranium, fluorite and barite on the Zumajo structure.
[Figure 1] Aguilas Mineral Rights location
A total of 98 grab samples have been collected within the property to-date including samples of surface float/boulders and local out cropping mineralization. Assays results confirm high copper values with associated gold, silver, cobalt and uranium. The metal association, style of mineralization and alteration are typical of iron oxide copper gold (IOCG) type ore deposits. The results also indicate a separate gold ± silver style of mineralisation. There is no historical exploration drilling on the copper structure and almost no modern exploration in the area.
Highlights from prospecting to-date as follows (Figure 2):
- Preliminary prospecting and sampling has covered approximately 5.5 km of the Torrubia structure where it cuts the Pedroche Batholith;
- Copper mineralization has been identified over approximately 3.1 km in in two sections of the Torrubia structure and appears to be continuous over approximately 2.6 km of from Cerro Torrubia to Torrechuela in the north of the structure and over approximately 0.5 km to the south at Cerro del Aguila. The copper mineralisation is open along strike.
- Surface indications suggest the breccia is part of a composite multistage structure and is up to several 10’s of metres wide and locally contains felsic dykes. Further exploration is required to determine how the copper is distributed within the structure;
- The style of mineralization and metal association is typical of hematite-associated iron oxide copper gold ore deposits;
- Approximately half the samples collected so-far contain visible copper mineralization, including either chalcopyrite, chalcocite and/or various secondary copper oxide and copper carbonate minerals.
- In addition to high copper values, the initial results highlight potential for economic concentrations of other metals, including gold, silver, cobalt and uranium.
- Assay results highlight the potential for high copper grades, including 24 samples with values greater than 1% copper (ranging from 1.06 to 11.7% Cu) plus 1 sample with 28% copper from a boulder of semi-massive chalcopyrite-chalcocite. The results also include values up to 33% iron, 1.7g/t gold, 17.5g/t silver, 0.13% cobalt, along with anomalous levels of uranium, nickel and light rare earth metals (lanthanum and scandium);
- The copper is associated with multistage hematite, quartz +/- carbonate and “red rock” alteration, multi-stage brecciation, strong structural control and textures indicative of intense high level hydrothermal activity;
- Evidence of ancient small diggings and mine workings have been identified along the copper trend that are not shown on any of the published geological maps for the area.
- Similar style mineralization has been located on a separate North-trending structure in the northwest of the property at Los Lazos, indicating potential to find additional copper along this structure and discovery of IOCG mineralisation elsewhere in the property.
[Figure 2] (a) Torrubia Structure, sampling/prospecting areas; (b), (c), (d) and (e) Rock sample locations and best results; (f) Los Lazos structure rock sample locations and results. [green dots = visible copper]
The style of mineralization and metal association shares many geological characteristics in-common with other Iron Oxide Copper ± Gold (IOCG) ore deposits, such as occur in the Olympic Dam and Cloncurry Districts in Australia (Figure 3).
[Figure 3] (a) Little Eva deposit - Cloncurry District; (b) Carapateena deposit – Olympic Dam District; (c) and (d) Aguilas Project
Prospecting is ongoing to help determine the extent of the mineralization and focus areas for follow-up in-fill sampling and geophysics to define drill targets. Reprocessing of regional geophysics data has commenced to help better delineate the copper trend and identify potential parallel structures within the property. Compilation of historical exploration and mining data, and re-evaluation of the historic lead-silver mine trend within the Aguilas project area is also in progress.