Panoro Minerals Continues to Intersect Good Copper-Gold Grades at the Cotabambas Cu/Au/Ag Project, Peru
Published : January 20, 2014
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Panoro Minerals Continues to Intersect Good Copper-Gold Grades at the Cotabambas Cu/Au/Ag Project, Peru

VANCOUVER, Jan. 20, 2014 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro", the "Company") is pleased to report additional assay results from its 100% owned Cotabambas porphyry copper-gold-silver project located in southern Peru. The drill results include exploration, step out and infill drill holes to the East, North, Northwest and Southeast side of the Ccalla deposit. Some highlights are as follows:

  • Drillhole CB-149 intersected 69.5m of primary copper mineralization grading 0.79% Cu, 0.29g/t Au, 7.82g/t Ag, underlain by a second interval of 39.5m averaging 0.96% Cu, 0.31g/t Au, 7.47g/t Ag, and a third interval of 78.2m grading 0.63% Cu, 0.40g/t Au and 4.83 g/t Ag.

  • Drillhole CB-143 intersected 47.5m of primary copper mineralization grading 0.80% Cu, 0.40g/t Au and 5.19g/t Ag, underlain by a second interval of 13.8m of primary copper mineralization averaging 0.91% Cu, 0.61g/t Au and 4.55 g/t Ag.

  • Drillhole CB-147 intersected 37.7m of primary copper mineralization grading 0.68% Cu, 0.39g/t Au and 4.97g/t Ag, including 22.3m averaging 0.90% Cu, 0.51g/t Au and 6.14 g/t Ag which is underlain by a second interval of 118.7m of primary copper mineralization averaging 0.35% Cu, 0.17 g/t Au and 2.5 g/t Ag, including 27.9m grading 0.59% Cu, 0.35 g/t Au and 4.63 g/t Ag.

The following table details the more significant intersections:

Drillhole From
Metres Cu
CB-141 365.80 381.75 15.95 0.21 0.09 2.03 0.0012 Primary
CB-142 43.40 69.40 26.00 0.21 0.07 1.38 0.0031 Oxide
" " 198.50 218.50 20.00 0.22 0.04 1.90 0.0017 Mixed
CB-143 313.75 366.75 53.00 0.33 0.08 1.75 0.0064 Primary
" " 382.70 489.10 106.40 0.28 0.12 1.98 0.0032 Primary
" " 531.75 579.30 47.55 0.80 0.40 5.19 0.0019 Primary
" " 595.75 609.60 13.85 0.91 0.61 4.55 0.0010 Primary
CB-145 118.00 159.45 41.45 0.37 0.09 1.14 0.0013 Enrichment
" " 198.20 206.40 8.20 0.54 0.24 3.18 0.0012 Enrichment
" " 218.35 227.50 9.15 0.58 0.18 3.16 0.0012 Enrichment
" " 246.45 251.40 4.95 0.55 0.25 3.29 0.0010 Primary
" " 418.70 471.60 52.90 0.22 0.04 1.15 0.0091 Primary
" " 497.70 610.50 112.80 0.15 0.03 1.16 0.0115 Primary
CB-146 no significant values
CB-147 198.60 236.30 37.70 0.68 0.39 4.97 0.0017 Primary
Including 214.00 236.30 22.30 0.90 0.51 6.14 0.0016 Primary
" " 276.00 394.75 118.75 0.35 0.17 2.50 0.0014 Primary
Including 326.00 353.90 27.90 0.59 0.35 4.63 0.0013 Primary
CB-148 292.40 430.15 137.75 0.55 0.22 3.60 0.0027 Primary
Including 332.00 379.00 47.00 0.68 0.18 3.53 0.0018 Primary
Including 399.00 423.00 24.00 0.81 0.43 5.92 0.0018 Primary
" " 453.90 564.00 110.10 0.29 0.13 2.16 0.0019 Primary
Including 533.80 564.00 30.20 0.48 0.21 3.65 0.0026 Primary
" " 578.20 592.65 14.45 0.33 0.06 4.09 0.0059 Primary
CB-149 13.50 52.95 39.45 0.14 0.05 1.14 0.0015 Leach
" " 52.95 69.45 16.50 0.20 0.05 1.09 0.0011 Oxide
" " 69.45 75.45 6.00 0.17 0.07 1.00 0.0010 Mixed
" " 75.45 197.80 122.35 0.24 0.09 1.53 0.0015 Primary
" " 217.90 246.05 28.15 0.45 0.31 2.55 0.0011 Primary
" " 266.60 275.70 9.10 0.92 0.53 4.76 0.0039 Primary
" " 329.60 399.10 69.50 0.79 0.29 7.82 0.0036 Primary
" " 329.60 369.10 39.50 0.96 0.31 7.47 0.0035 Primary
" " 411.30 489.55 78.25 0.63 0.40 4.83 0.0045 Primary
CB-150 5.65 83.65 78.00 0.13 0.04 1.10 0.0012 Leach
" " 104.35 171.90 67.55 0.35 0.19 2.14 0.0013 Primary
Including 151.65 171.90 20.25 0.68 0.46 4.14 0.0015 Primary
" " 192.55 219.45 26.90 0.76 0.71 3.34 0.0027 Primary
" " 247.30 264.75 17.45 0.82 0.75 3.15 0.0015 Primary
" " 270.00 278.75 8.75 0.78 0.31 2.46 0.0027 Primary
" " 285.15 350.20 65.05 0.70 0.29 4.11 0.0015 Primary
" " 377.15 420.45 43.30 0.39 0.27 3.54 0.0026 Primary

Exploration Drill Holes

Hole CB-141 was collared in the Ccalla East target, 80m to the southwest of previously published drill hole CB-127. From 365.8m to 381.7m, primary copper mineralization was intersected grading 0.21% Cu, 0.09g/t Au and 2.03g/t Ag. The upper part of the drillhole, from 128m to 307m, intersected various intervals of disseminated primary copper mineralization with grades between 0.10% Cu to 0.20% Cu indicating that mineralization is still open to the East.

Hole CB-142 was collared in the Ccalla deposit area, 150m to the northwest of previously published drill hole CB-128 and 100m to the north of previously published drill hole CB-124. From 43.4m to 69.4m, 26.0m of copper oxide mineralization was intersected grading 0.21% Cu, 0.07g/t Au and 1.38 g/t Ag. Further at depth, 20m of mixed copper mineralization was intersected averaging 0.22% Cu, 0.04g/t Au and 1.9g/t Ag.

Hole CB-143 was collared at the southeast extension of the Ccalla deposit, 120m to the southwest of previously published drill hole CB-45 and 200m to the southeast of the previously published drill hole CB-140. The hole intersected various intervals of primary copper mineralization including 53.0m grading 0.33% Cu, 0.08g/t Au and 1.75 g/t Ag, 106.4m grading 0.28% Cu, 0.12g/t Au and 1.98g/t Ag, 47.5m averaging 0.80% Cu, 0.40g/t Au and 5.19g/t Ag, and 13.8m grading 0.91% Cu, 0.61g/t Au and 4.55g/t Ag. These intercepts confirm that the high grade zones are still open to the south and indicate potential to expand the resource into this area with additional drilling.

Hole CB-145 was collared 50m to the southeast of the drill hole CB-143 and 230m to the east of the previously published drill hole CB-57. From 118.0m to 227.5m, three intervals of enriched chalcocite mineralization were intersected including 41.4m grading 0.37% Cu, 0.09g/t Au and 1.14g/t Ag, 8.2m grading 0.54% Cu, 0.24g/t Au and 3.18g/t Ag, and 9.1m grading 0.58% Cu, 0.18g/t Au and 3.16g/t Ag. At depth, three additional intervals of primary copper mineralization were intersected with grades varying from 0.15% Cu to 0.55% Cu and 0.001% Mo to 0.0115% Mo. These results also confirm that high grade mineralization remains open to the south and southeast of the Ccalla deposit.

Hole CB-146 was collared at the same platform as drill hole CB-145, but drilled in the opposite direction to explore the southeast continuity of the Ccalla East deposit. It intersected propylitically altered diorite intrusive without encountering significant grades.

Infill Drill Holes

Hole CB-147 was collared in the Ccalla deposit, 60m to the northeast and 100m to the southwest of previously published drill holes CB-38 and CB-48. From 198.6m to 236.3m, 37.7m of primary copper mineralization was intersected grading 0.68% Cu, 0.39g/t Au and 4.97 g/t Ag, including 22.3m grading 0.90% Cu, 0.51g/t Au and 6.14g/t Ag. A second interval of primary copper mineralization was intersected at depth with 118.7m grading 0.35% Cu, 0.17g/t Au and 2.5g/t Ag. This included 27.9m grading 0.59% Cu, 0.35g/t Au and 4.63g/t Ag.

Hole CB-148 was collared in the Ccalla deposit, 100m to the southeast of previously published drill hole CB-38. From 292.4m to 430.1m, 137.7m of primary copper mineralization was intersected grading 0.55% Cu, 0.22g/t Au and 3.6g/t Ag, including intervals of 47m grading 0.68% Cu, 0.18g/t Au and 3.53g/t Ag and 24m grading 0.81% Cu, 0.43g/t Au and 5.92 g/t Ag. At depth, two more intervals of primary mineralization were intersected. The results confirm that copper mineralization with relatively high grade is still open to depth in some parts of the deposit.

Hole CB-149 was collared in the Ccalla deposit, in the same line and between the previously published drill holes CB-01 and CB-25. Near surface, some intervals of relatively low grade supergene mineralization were intersected. These were underlain by various intervals of primary copper mineralization, such as 69.5m grading 0.79% Cu, 0.29g/t Au and 7.82 g/t Ag, 39.5m grading 0.96% Cu, 0.31g/t Au and 7.47g/t Ag, and 78.2m grading 0.63% Cu, 0.40g/t Au and 4.83g/t Ag.

Hole CB-150 was collared in the Ccalla deposit, 50m to the northeast of drill hole CB-149 and between previously published drill holes CB-112 and CB-138. From a depth of 104.3m to 420.3m, seven intervals of primary copper mineralization with relatively high grades were intersected. Three of the most important intervals are 26.9m grading 0.76% Cu, 0.71g/t Au and 3.34g/t Ag, 17.4m averaging 0.82% Cu, 0.75g/t Au and 3.15g/t Ag, and 65.0m averaging 0.70% Cu, 0.29g/t Au, and 4.11g/t Ag.

A map showing the locations of the drill holes is available at Panoro's website, One drill continues working on site and a systematic rock geochemistry survey is still in progress over the areas around the current resource.

A preliminary economic assessment for Cotabambas and Antilla projects is planned for completion by July 2014.

About Panoro

Panoro's strategic focus is to move its advanced stage projects to the feasibility and development stages and to explore its other projects. The Company owns the advanced Cotabambas Copper-Gold-Silver-Molybdenum and Antilla Copper-Molybdenum Projects which include mineral resources of:

Cotabambas:   Indicated Resource 117.1 Mt @ 0.42% Cu, 0.23g/t Au, 2.74 g/t Ag & 0.001%Mo (@0.2% Cueq cutoff)
Inferred Resource 605.3 Mt @ 0.31% Cu, 0.17g/t Au, 2.33 g/t Ag and 0.002 %Mo (@0.2% Cueq cutoff)
(Tetra Tech, 2013).
Antilla:   Indicated Resource 188.5 Mt @ 0.40% Cu and 0.009% Mo (@0.2% Cueq cutoff)
Inferred Resource 145.9 Mt @ 0.28% Cu and 0.009%Mo (@0.2% Cueq cutoff)
(Tetra Tech, 2013).

Panoro is very well positioned to advance exploration at the Antilla and Cotabambas Projects. The Company has $11 million in cash which will allow completion of additional infill and exploration drilling and preliminary economic assessments as both projects move towards feasibility studies.

Panoro's significant portfolio of properties is located primarily in the south-eastern region of Peru. This region contains a number of important copper and copper/gold deposits including Glencore-Xstrata's Las Bambas and Antapaccay Copper Projects and the Tintaya Copper Mine. In September 2010, Xstrata announced US$5.2 billion of investment to develop Las Bambas. The Antapaccay copper project is in operation. The region also includes First Quantum Minerals' Haquira Copper Project, HudBay Minerals' Constancia Copper Project, Southern Copper's Los Chancas Copper Project and Buenaventura's Trapiche Project. The Constancia project is currently in construction with start-up planned for 2014.

Luis Vela, a P. Geo Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

On behalf of the Board of Panoro Minerals Ltd.

Luquman Shaheen, M.B.A., P.Eng., P.E.
President & CEO

This release was prepared by management of the Company who takes full responsibility for its contents. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



SOURCE Panoro Minerals Ltd.

For further information:

Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone: 604.684.4246
Fax: 604.684.4200

Renmark Financial Communications Inc. 
Barbara Komorowski:
Tel.: (514) 939-3989 or (416) 644-2020

Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Panoro Minerals Ltd

ISIN : CA69863Q1037
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Panoro is a copper exploration company based in Canada.

Panoro develops copper and molybdenum in Peru.

Its main asset in development is ANTILLA in Peru and its main exploration properties are COTABAMBAS, EL ROSAL, LA RAMADA and COCHASAYHUAS in Peru.

Panoro is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 33.6 millions as of today (US$ 26.8 millions, € 23.5 millions).

Its stock quote reached its highest recent level on April 06, 2007 at CA$ 0.94, and its lowest recent point on March 13, 2009 at CA$ 0.06.

Panoro has 258 150 000 shares outstanding.

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Financings of Panoro Minerals Ltd
7/16/2014Completes Bought Deal Financing and Hudbay Private Placement
3/9/2012Closes Bought Deal Private Placement to Raise $13.8 Million
2/23/2012Announces $10,002,000 Bought Deal Financing
7/8/2011Announces Closing of Second and Final Tranche of Financing
7/4/2011Announces Closing of First Tranche of Financing
1/5/2010Closes $622,800 Private Placement
Option Grants of Panoro Minerals Ltd
8/16/2011(Cotabambas)Restarts Cotabambas Drill Program and Grants Options
2/19/2008Company Grants Stock Options
Nominations of Panoro Minerals Ltd
5/8/2011. Retains Renmark Financial Communications Inc.
2/22/2011Announces Appointment of Mr. David W. Huber as Chief Financi...
6/8/2010Appoints Kallpa Securities SAB as Sponsor for Listing on Lim...
3/25/2010Appoints Richard Mundie To Board of Directors
4/18/2008 Lays Foundation for Future with Orderly CEO Succession, App...
Project news of Panoro Minerals Ltd
7/15/2013(Cotabambas)Intersects 128.9 Meters Grading 1.29 % Cu, 0.96 g/t Au and 9...
5/6/2013(Cotabambas)Intersects 103.6 Meters Grading 0.79 %Cu, 0.58 g/t Au and 5....
1/28/2013(Antilla)Recommences Antilla Cu/Mo Project, Peru
11/1/2012(Cotabambas)Announces Results from Ongoing Exploration At 100% Owned ...
7/10/2012Adds Significant Potential for Additional Resources With Dis...
6/20/2012Announces Approval of Environmental Impact Assessment (EIAsd...
4/16/2012(Cotabambas)Intersects 114.1 metres Grading 1.70% Copper, 1.2 G/t Gold a...
12/12/2011Welcomes Option Agreement between Strait Gold and Teck for t...
10/5/2011(Cotabambas)Completes Geophysical Program and Advances 24,400 m Drill Pr...
3/29/2011(Cotabambas)Completes Three Year Community Agreement and Plans Expansion...
2/17/2011(Cotabambas)Project Update
7/23/2010(Antilla)Initial Assay Results Of The Infill Drilling Program At Pano...
6/23/2010(Antilla)Infill Drilling Program Making Progress at Panoro's Antilla...
9/29/2009(Alicia Property)Options Alicia Cu-Au Property in Peru to Strait Gold Corpora...
1/28/2009(Antilla)Successful Completion of 2008 Exploration Program at Antilla...
9/3/2008(Antilla)Antilla, Peru, Further Results Meet and Exceed Expectations,...
8/13/2008(Antilla)Encouraging First Results Indicating Continuity of Grade and...
6/25/2008(El Rosal)Acquires Additional Mineral Concessions at El Rosal Project,...
12/3/2007(El Rosal)Final Drilling Permit for El Rosal received Field Work under...
11/21/2007Progress on the Permitting Front and Community Relations App...
Corporate news of Panoro Minerals Ltd
6/17/2016Panoro Minerals Announces Filing of Antilla Cu/Mo Project Pr...
6/1/2016Panoro Minerals Announces Receipt of Second Early Deposit Pa...
5/24/2016Panoro Announces Appointment of Chief Financial Officer
5/2/2016Panoro Reports Positive Preliminary Economic Assessment For ...
4/19/2016Panoro Minerals Announces Receipt of First Early Deposit Pay...
12/2/2015Panoro Minerals Announces Approval of Expanded Environmental...
11/25/2015Panoro Minerals Announces Interim CFO
11/2/2015Panoro Announces Ms. Kathryn Johnson as Chief Financial Offi...
9/22/2015IIROC Trading Resumption - PML
9/22/2015Panoro Reports Updated Preliminary Economic Assessment Resul...
9/22/2015IIROC Trading Halt - PML
4/9/2015IIROC Trading Resumption - PML
4/9/2015Panoro Reports Positive Preliminary Economic Assessment for ...
4/9/2015IIROC Trading Halt - PML; AHC
2/5/2014Announces Granting of Options
1/20/2014(Cotabambas)Continues to Intersect Good Copper-Gold Grades at the Cotaba...
12/31/2013- Death of Director - Jaime Quijandr=EDa Salm=F3n
12/16/2013(Antilla)announces significant increase and upgrade for Antilla Cu/Mo...
10/30/2013(Cotabambas)Increases Copper and Gold Resources by 40% at the Cotabambas...
3/14/2013completes C$15 million bought deal financing
2/25/2013(Cotabambas)Intersects 110.8 Meters Grading 1.64 % Cu, 0.68 g/t Au and 6...
1/21/2013(Cotabambas)Intersects 92 Metres Grading 0.95 %Cu, 0.49 g/t Au and 6.2 g...
12/11/2012completed Table from December 11, 2012 Press Release
12/11/2012(Cotabambas)Intersects 60 Metres Grading 1.55% Cu, 0.57 g/t Au and 7 g/t...
10/26/2012(Cotabambas)Announces Filing of NI 43-101 Technical Report for Cotabamba...
10/24/2012(Cotabambas)Announces Filing of NI 43-101 Technical Report for Cotabamba...
10/17/2012Announces Granting of Options and Appointment of VP Expl...
9/28/2012(Antilla)Arbitration Committee Confirms Termination of Joint Venture ...
9/27/2012Arbitration Committee Confirms Termination of Joint Venture ...
9/11/2012(Cotabambas)Cotabambas Project Resource Estimate Shows Increase to 3.75 ...
6/13/2012(Cotabambas)Intersects 55.35 Metres Grading 0.97% Copper, 0.16 G/t Gold ...
1/19/2012(Cotabambas)Intersects Near Surface Enriched Zone With 92.35 Metres Grad...
1/4/2012Announces Approval of Application to the British Columbia an...
12/7/2011(Cotabambas)Continues to Intersect High Grade Copper-Gold Mineralization...
6/15/2011Announces Corporate Plans
5/11/2011(Cotabambas)Intersects 206 Metres Grading 0.51% Cu and 0.31 g/t Au at th...
3/7/2011(Cotabambas)Announces First Drill Results for the Cotabambas Copper Gold...
2/13/2010Retains Ascenta Capital Partners for Investor Relations
6/22/20091.6 Billion pound Copper Inferred Resource Estimate at the E...
6/15/2009annual general meeting
6/2/2008Exploration Program Commenced at Antilla Project
5/21/2008With Permit in Hand Panoro to Start Drilling Program at the ...
5/13/2008Announces Proposed Implementation of Shareholders Rights Pla...
4/7/2008 Changes Name of Subsidiary in Peru to Panoro Apurimac S.A.
3/17/2008 Grants Consorcio Minero Horizonte Option to earn 50% in Coc...
1/21/2008 Starts First of Four Drill Programs
12/5/2007 Signs Formal Agreement with Antilla Community Drilling in e...
10/4/2007Two of the Company's Projects Designated as Projects of Nati...
9/18/2007Progress Report since the Acquisition of Cordillera de las M...
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