Panoro Minerals Ltd

Published : January 21st, 2013

Intersects 92 Metres Grading 0.95 %Cu, 0.49 g/t Au and 6.2 g/t Ag at the Cotabambas Cu/Au/Ag Project

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Keywords :   Copper | Gold | Growth | Iron | Molybdenum | Peru | Precious Metals | Report | Silver |
Panoro Minerals Intersects 92 Metres Grading 0.95 %Cu, 0.49 g/t Au and 6.2 g/t Ag at the Cotabambas Cu/Au/Ag Project, Peru
January 21, 2013

Vancouver, B.C., January 21, 2013 - Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro", the "Company") Panoro 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 infill and step out drill holes to the east, west and north sides of the Ccalla deposit. Some highlights are as follows:

  • Drillhole CB-95 intersected 91.9m of supergene copper mineralization grading 0.95% Cu, 0.49g/t Au and 6.2g/t Ag including 57.0m of copper oxide mineralization averaging 0.74%Cu, 0.50g/t Au and 6.9 g/t Ag, underlain by 35m of enriched chalcocite mineralization grading 1.30%Cu, 0.49g/t Au and 5.1g/t Ag.
  • Drillhole CB-98 intersected 71.2m of supergene copper oxides averaging 0.90% Cu, 0.61g/t Au and 3.7g/t Ag, including 38.1m grading 1.16% Cu, 0.79g/t Au and 4.3g/t Ag, and underlain by 340m of primary copper mineralization averaging 0.41% Cu, 0.21g/t Au and 2.8g/t Ag.
  • Drillhole CB-99 intersected 73.9 m of supergene enriched chalcocite mineralization grading 0.92% Cu, 0.04g/t Au and 1.4g/t Ag including 32.0m grading 1.93% Cu, 0.04g/t Au and 1.1g/t Ag, immediately underlying 102.6m of supergene copper oxide mineralization averaging 0.24% Cu, 0.18g/t Au and 2.3g/t Ag including 16.0m grading 0.49%Cu, 0.25g/t Au and 2.4g/t Ag.

The following table details the more significant intersections:

Drillhole
From
(m)
To
(m)
Intersection
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mo
(%)
Zone
CB-70
no significant values
CB-91
0.0
10.6
10.6
0.32
0.09
2.0
0.0014
Oxide
CB-93
0.0
14.1
14.1
0.17
0.42
2.7
0.0018
Leach
""
14.1
61.4
47.3
0.37
0.09
1.7
0.0023
Oxide
""
77.0
84.4
7.4
0.32
0.11
2.0
0.0046
primary
""
93.1
108.4
15.3
0.38
0.14
2.7
0.0024
primary
""
148.0
163.6
15.6
0.18
0.07
1.6
0.0019
primary
""
182.9
228.0
45.1
0.26
0.09
2.0
0.0070
primary
CB-94
116.3
147.8
31.5
0.17
0.06
1.2
0.0037
Mixed
""
159.1
204.3
45.2
0.18
0.19
1.5
0.0066
Mixed
CB-95
0.0
91.9
91.9
0.95
0.49
6.2
0.0012
Supergene
Including
0.0
57.0
57.0
0.74
0.50
6.9
0.0013
Oxide
Including
29.7
57.0
27.3
1.03
0.36
6.8
0.0017
Oxide
Including
29.7
37.7
8.0
3.08
0.51
6.8
0.0012
Oxide
Including
57.0
91.9
34.9
1.30
0.49
5.1
0.0011
Enrichment
""
105.9
116.7
10.8
0.73
0.62
5.0
0.0010
primary
""
175.3
262.1
86.8
0.19
0.06
1.6
0.0039
primary
""
335.9
380.4
44.5
0.12
0.03
1.2
0.0092
primary
CB-97
164.0
235.7
71.7
0.21
0.07
1.5
0.0015
primary
Including
182.0
207.1
25.1
0.31
0.08
1.4
0.0017
primary
CB-98
0.0
71.2
71.2
0.90
0.61
3.7
0.0015
Oxide
Including
25.1
63.2
38.1
1.16
0.79
4.3
0.0018
Oxide
""
71.2
411.2
340.0
0.41
0.21
2.8
0.0056
primary
Including
71.2
115.7
44.5
0.86
0.66
4.0
0.0038
primary
Including
124.6
160.6
36.0
0.93
0.46
4.9
0.0012
primary
Including
189.9
205.3
15.4
0.98
0.51
8.1
0.0010
primary
Including
207.4
285.9
78.5
0.34
0.12
2.4
0.0083
primary
Including
293.0
379.3
86.3
0.22
0.05
2.0
0.0079
primary
CB-99
44.0
146.6
102.6
0.24
0.18
2.3
0.0014
Oxide
Including
110.6
126.6
16.0
0.49
0.25
2.4
0.0020
Oxide
""
161.6
235.5
73.9
0.92
0.04
1.4
0.0019
Enrichment
Including
199.5
231.5
32.0
1.93
0.04
1.1
0.0016
Enrichment
""
263.9
299.9
36.0
0.15
0.04
1.4
0.0032
primary


Step Out Drill Holes

Hole CB-70 was a step out hole drilled in the west side of Ccalla Deposit, parallel but 100m to the west of previously published hole CB-69, but in the opposite direction. Wide zones of latite bodies were intercepted with no significant grades. This hole may define a limit of the primary mineralization intercepted in hole CB-69. However, approximately 100m to the northwest of hole CB-70, there are porphyry outcroppings exposing supergene iron and copper oxide mineralization, where additional drilling will be required.

Hole CB-91 was a step out hole drilled to the east side of Ccalla Deposit, parallel to and 150m to the north of hole CB-74. From surface to 10.6m, a zone of copper oxide mineralization grading 0.32% Cu, 0.09g/t Au and 2.0g/t Ag was intersected.

Hole CB-94 was a step out hole drilled to the west side of Ccalla Deposit, positioned parallel and 150m to the west side of previously published hole CB-67. Two intervals of mixed mineralization were intersected including 31.5m grading 0.17%Cu, 0.06g/t Au and 1.2 g/t Ag, and 45.2m averaging 0.18%Cu, 0.19g/t Au and 1.5g/t Ag.

Hole CB-99 was a step out hole drilled to the north side of Ccalla Deposit, from the same site of hole CB-97. It is collared 100 m to the west of previously reported hole CB-43, which identified a new zone of supergene enriched copper mineralization that is still open to the north. Hole CB-99 explored the continuity of this mineralization a further 170m to the north, confirming the continuity yet leaving open the limits of the existing supergene environment. From surface to 44.0 m a barren leached capping zone was intersected underlain by 102.6m of copper oxide mineralization averaging 0.24% Cu, 0.18g/t Au and 2.3g/t Ag including 16m grading 0.49%Cu, 0.25g/t Au and 2.4g/t Ag. Immediately below this zone there is 73.9 m of supergene enriched chalcocite mineralization averaging 0.92% Cu, 0.04g/t Au and 1.4g/t Ag, including 32.0m grading 1.93% Cu, 0.04g/t Au and 1.1g/t Ag.


Infill Drill Holes

Hole CB-93 was collared parallel and between holes CB-17 and CB-88. A supergene gold enriched leached capping was intersected from surface to 14.1m grading 0.17% Cu, 0.42g/t Au and 2.7g/t Ag, underlain by a copper oxide zone of 47.3m averaging 0.37%Cu, 0.09g/t Au and 1.7g/t Ag. This was underlain by several intervals of primary mineralization grading from 0.18% Cu to 0.38% Cu

Hole CB-95 was collared parallel to and between previously published holes CB-36 and CB-88. A 91.9m interval of supergene enriched copper mineralization was intercepted grading 0.95% Cu, 0.49g/t Au and 6.2g/t Ag, including 57.0m of copper oxide mineralization averaging 0.74%Cu, 0.50g/t Au and 6.9 g/t Ag, and underlain by 34.9m of enriched chalcocite mineralization grading 1.30%Cu, 0.49 g/t Au and 5.1g/t Ag. At depth were intersected three intervals of primary mineralization grading from 0.12 to 0.73%Cu. Hole CB-95 represents an important mineral discovery since these high grades were not intersected previously by holes CB-36 and CB-88, and confirm a supergene enriched mineralized zone extending beyond the current limits of the Ccalla Deposit. The ongoing infill drilling plan will test for further extensions of this zone.

Hole CB-97 was located parallel to and between previously published holes CB-62 and CB-43. From 164.0m to 235.7m depth, 71.7m of primary mineralization was intercepted averaging 0.21%Cu, 0.07g/t Au and 1.5g/t Ag.

Hole CB-98 was located parallel to and between previously published hole CB-36 and the above described hole CB-95. This hole confirms the continuity at depth and the lateral extension of the high grade supergene enrichment zone discovered by hole CB-95. A copper oxide zone was intersected from surface to 71.2m averaging 0.90%Cu, 0.61g/t Au and 3.7g/t Ag, including 38.1m averaging 1.16%Cu, 0.79g/t Au and 4.3g/t Ag. It is immediately underlain by 340m of primary mineralization averaging 0.41% Cu, 0.21g/t Au and 2.8g/t Ag, including several intervals of higher and lower grade zones ranging from 0.22% Cu to 0.98% Cu including significant grades of precious metals including; up to 0.6g/t Au and up to 8.1g/t Ag.

A map showing the locations of the drill holes is available at Panoro's website, www.panoro.com. Five drills continue working on the step-out, exploration and infill drilling targetting continued growth of the resource and upgrade of the high grade pit area to the Indicated categories.


About Panoro

Panoro's strategic focus is to advanced its Cotabambas and Antilla Projects through feasibility and into development. The Company owns 100% of the Cotabambas Copper-Gold-Silver Project and 100% of th Antilla Copper-Molybdenum Project. These projects contain Inferred level resources of:

Cotabambas:
  404.1 Mt @ 0.42% Cu, 0.23g/t Au and 2.84g/t Ag @ 0.2% Cueq cut-off (AMEC 2012) (in situ content of 3.75 billion lbs. Cu, 3.0 million oz. Au, 36.9 million oz. Ag)
Antilla:
  154 Mt @ 0.47% Cu and 0.009% Mo @ 0.25% Cu cut-off (AMEC, 2009) (in-situ content of 1.6 billion lbs. Cu and 30 million lbs. Mo)


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 Xstrata's Las Bambas and Antapaccay Copper Projects and the Tintaya Copper Mine where Xstrata is completing US$6.7 billion of investment to develop these two large copper projects. The region also includes First Quantum Minerals' Haquira Copper Project, HudBay Minerals' Constancia Copper Project and Southern Copper's Los Chancas Copper Project. Hudbay commenced construction of the Constancia Project in 2012.

Luis Vela, a 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

FOR FURTHER INFORMATION, CONTACT:
Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone:604.684.4246
Fax: 604.684.4200
Email: info@panoro.com
Web: www.panoro.com

Renmark Financial Communications Inc.
Barbara Komorowski:
bkomorowski@renmarkfinancial.com
Bettina Filippone:
bfilippone@renmarkfinancial.com
Media - Lynn Butler: lbutler@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com


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.


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http://www.panoro.com/i/pdf/2013-01-21_NR.pdf
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Panoro Minerals Ltd

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CODE : PML.V
ISIN : CA69863Q1037
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Panoro is a copper development stage 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$ 34.9 millions as of today (US$ 25.4 millions, € 23.7 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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