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Re: News Release - Tuesday, September 18, 2007
Progress Report since the Acquisition of Cordillera de las Minas
Expansion of a Number of Drilling Programs
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Vancouver, B.C. and Lima, September 18, 2007. Panoro Minerals Ltd. (The
Company) would like to report to shareholders and investors that since
the acquisition of CDLM management has directed its efforts at several
fronts:
1) The permitting process for the drill programs at several projects
and
2) The evaluation of the portfolio properties in addition to Antilla
and Cotabambas.
Management has now visited the Alicia, Cochasayhuas, Checca, Sancapampa
and Kusiorcco projects. While the results of the property visits are
for the most part still under review and a follow up approach is in the
planning stages, management has elevated the Kusiorcco project to a
high priority drilling target next to Antilla and Cotabambas. The
Kusiorcco project had previously received a drill recommendation in the
NI 43-101 report by SRK Consulting.
The Kusiorcco project is located close to Norsemont's Constancia
project (Indicated Resources of 70 million tonnes @ 0.52% copper,
Inferred Resources 250 million tonnes @ 0.51% copper) and the
historical Katanga Mine. It consists of a strong, one kilometer by two
kilometer Induced Polarization and Resistivity Anomaly overlying a 300m
by 500m alteration zone characterized by an intensive skeletal
stock-work of quartz veins with the weathered out voids filled by
limonite and goethite (both iron oxides). Management believes this to
be the leached outcrop of part of a porphyry system that has been
intensely mineralized with sulphide minerals and in fact,
silicification, quartz stock-work systems and alteration are generally
widespread in the Kusiorcco intrusive stock. The intensely leached
outcrop also suggests the presence of a secondarily enriched zone at
the transition to fresh sulphide mineralization at depth. The potential
of this system to host a sizeable body of copper mineralization is
further supported by the presence of a number of copper skarn
occurrences located at the periphery of the Kusiorcco intrusive stock
which are currently being mined on a small scale by locals.
Along with the projects acquired through the purchase of CDLM, the
Company's El Rosal project was recently visited by the Company's new
Vice-President of Exploration, Mr. Fred Tejada. His review suggested
that the property's potential for significant skarn and porphyry copper
mineralization is enhanced by the presence of a previously unrecognized
epithermal event superimposed on the intrusive system responsible for
known mineralization. Community consent for the Company's proposed
program of exploration drilling here has now been received.
The permitting process is underway at various of the Company's other
projects including Cotabambas, Antilla and Kusiorcco. Environmental
impact studies were required and have been received for both Antilla
and Cotabambas and community consent been solicited for all three
projects. Final permit applications will be submitted for each project
as soon as the respective community consent documents have been
received.
The process of obtaining community consents has become more arduous
country wide in Peru and full community meetings only take place once a
month. While these processes have taken more time than anticipated,
progress has nevertheless been made and the Company expects to be
commencing at least two drill programs before the end of the year.
On behalf of the Board of
Panoro Minerals Ltd.
Helmut H. Wober, P.Eng.
President 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, or send an e-mail to
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) 2007 PANORO MINERALS LTD. (PML) All rights reserved.
For more information visit our website at http://www.panoro.com/ or
send mailto:info@panoro.com
Message sent on Tue Sep 18, 2007 at 11:28:12 AM Pacific Time
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