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Antilla, Peru, Further Results Meet and Exceed Expectations,
including 82 m of 0.70% Copper with 0.023% Molybdenum
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Vancouver, B.C. and Lima, Peru, September 3, 2008. Panoro Minerals Ltd.
("the Company") is pleased to announce that it has received assay
results from seven additional drillholes of the Company's advanced
stage exploration project, Antilla located in southern Peru. The
locations of these holes are shown on the company's website, at
http://www.panoro.com/i/maps/Antilla_EastBlock_11aug08.gif.
Drillhole From (metres) To (metres) Width (metres) Copper (%) Comments
ANT-27 28 42 14 0.83 Plus 0.59 % Cu from 50 to 60 m
ANT-28 26 108 82 0.70 Includes 1.07% Cu from 26 to 66 m
ANT-29 2 54 52 0.87 Includes 1.02% Cu from 2 to 30 m
ANT-30 32 96 64 0.75
or 32 128 96 0.59
ANT-31 88 104 16 0.51
Drillholes ANT-32 and ANT-33 located at the northeastern boundary of
the target area intersected mineralization below the cutoff grade of
0.30% Cu confirming the target boundary in this area.
In addition to the copper mineralization, ANT-28 and ANT-30 also
intersected Molybdenum mineralization. ANT-28 intersected Molybdenum
averaging 0.023% from 26 to 108 m and ANT-30 intersected Molybdenum
averaging 0.023% from 94 to 134 m.
The current drilling program, total of 10,000 m, is more than 50%
complete and advancing well. The company will announce further results
as they are received. On completion of the infill program the results
will be subject to an independent resource estimate in compliance with
the provisions of National Instrument 43-101.
The current drilling program is being carried out to provide sufficient
information to allow estimation of tonnage and grade for a National
Instrument 43-101 compliant resource category. The current estimate
represents a global geological potential as projected by SRK
Consulting, see report at:
http://www.panoro.com/i/pdf/PanoroApurimac43-101.pdf.
The global estimate of the geological potential of the East Block based
on seven historic drill holes in the enriched chalcocite blanket of
approximately 135 million tonnes (MT), with a 90% probability
containing a copper grade of between 0.61% and 0.75%, whereby all
copper assays greater than 1.5% were trimmed back to 1.5% copper. The
presence of a potentially underlying porphyry system remains to be
tested as well as a similar but separate supergene target to the west.
The reader is cautioned that the potential quantity and grade of
Exploration Target as described in this release is conceptual in
nature, that there has been insufficient exploration to date to define
a mineral resource and that it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
All drilling was carried out by Bradley MDH S.A. and all assay samples
are being tested by ALS-Chemex laboratory in Lima, Peru. Fred Tejada,
P.Geo., is the Company's VP-Exploration and the Qualified Person for
this project.
On behalf of the Board of
Panoro Minerals Ltd.
Luquman Shaheen, M.B.A., P.Eng., P.E.
President, CEO and Director
ABOUT PANORO
Panoro Minerals Ltd. is a Canadian mineral exploration company trading
on the TSX Venture Exchange (PML) and on the Frankfurt Stock Exchange
(PZM, WKN 914959) and on the Junior Board of the Lima Exchange.
Panoro's strategic focus is on exploring for large-potential gold and
copper/gold deposits in countries with the corresponding geological
potential and where the right political and economic conditions are
present. For investor inquiries please call 604-684-4246, e-mail
info@panoro.com or visit the company's website at www.panoro.com
This release was prepared by management of the Company who takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.
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Copyright (c) 2008 PANORO MINERALS LTD. (PML) All rights reserved.
For more information visit our website at http://www.panoro.com/ or
send mailto:info@panoro.com
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