Pan Global Resources Inc.: General Update on Balkans Project

26. October 2011. / Uncategorized

 

Pan Global Resources Inc. is pleased to provide an update on exploration activities in the Republic of Serbia undertaken by our exploration partner, Lithium Li Holdings Inc.

Four holes of an initial diamond drilling program have now been completed in the Badanja and adjoining Jadar West exploration license. These titles are immediately adjacent to Rio Tinto’s Jadar deposit where production is planned to commence in 2016 (Figure 1).

Hole RAR-2 (eoh 811m) drilled in Jadar West has provided compelling evidence of mineralization in the vicinity. The hole intersected post mineral marine sediments underlain by host lacustrine sediments with stratigraphic marker horizons and zones of potential mineralization which are interpreted to be directly correlated with the stratigraphy at the Jadar deposit. These include a zone of calcite pseudomporphs probably after borates (393-398m), a tuffaceous sandstone marker horizon (481-487m), and a zone of calcite pseudomporphs and vugs after jadarite (511-514m). This interpretation of pseudomorphs after borates and jadarite will be greatly enhanced if the intervals return elevated B and/or Li geochemistry from pending assays and suggests that the mineralizing system at Rio Tinto’s Jadar deposit is repeated in, or continues into, the Jadar West licence. However in Hole RAR-2, the stratigraphy correlative to the mineralized zones has been disrupted by influx of coarse grained debris flows and local groundwater and/or spring activity has leached out the jadarite and borate mineralization. Hole RAR-4 (eoh 576m) was drilled 600m to the NE in an attempt to intersect mineralization outside the dissolution zone, but it intersected similar zones including the important tuffaceous sandstone marker horizon (524-526m), and a zone of calcite pseudomporphs and vugs after jadarite (558-559m).

As previously reported, hole RAR-1 (eoh 601m) drilled in the Badanja licence intersected a sequence of marine sediments underlain by a potential host package of lacustrine sediments, disrupted by sedimentary flows of diamictite which are likely to have displaced or removed potential ore horizons.

 

 

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