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Panoro Minerals Announces Community Agreement and Approval of Additional Mineral Concessions at 100% Owned Cotabambas Cu/Au/Ag Project, Peru
Published : November 15, 2012
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Panoro Minerals Announces Community Agreement and Approval of Additional Mineral Concessions at 100% Owned Cotabambas Cu/Au/Ag Project, Peru

VANCOUVER, Nov. 15, 2012 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro", the "Company") Panoro is pleased to announce that the Company and the indigenous Community of Ccalla have signed a socio-economic agreement at its Cotabambas Cu/Au/Ag Project and also that the Company has received approval for five additional mineral concessions at the Cotabambas Project.

The community agreement is the second such agreement between the Community of Ccalla and Panoro over the last two years. The previous agreement had a term of two years and had been successfully completed in 2012. The new agreement covers a three year period whereby the Company has committed to certain investment commitments to benefit the community and in return the Community agrees to allow Panoro surface rights access for its exploration programs. The signing of the agreement represents the fourth Community agreement signed by Panoro with the three indigenous communities in the vicinity of the Cotabambas Project.

The agreement with the Community of Ccalla together with the existing agreement with the Community of Cochapata positions the company to continue its aggressive exploration of the Cotabambas project where the Company announced on September 11, 2012 a substantial increase in the Inferred resource contained within the Ccalla and Azulccaca Deposits to 404.1 Mt @ 0.42% Cu, 0.23g/t Au and 2.84g/t Ag @ 0.2% Cueq cut-off (AMEC 2012).

In addition, the Company is pleased to announce the approval by the Institute of Geology, Mining and Metallurgy of Peru, INGEMMET, of five additional mineral concessions at the Cotabambas Project. The five additional concessions increase the area of the property from 9,900 hectares by 5,000 hectares to a total of 14,900 hectares. The added concessions are located to the west and south side of the existing property and are shown on the map located at the Company's website, www.panoro.com.

Panoro's exploration at the Cotabambas Project continues with four drill rigs at site. The on-going exploration program is targeting an increase in the resource base while the infill drill program is focused on converting the existing resource in the high grade pit zone area to the Indicated level. The Company is sourcing additional drilling capacity to expand the exploration program to target potential high grade oxide and sulphide zones to the east of the existing zones within limits of the Ccalla Community. Mapping and geophysical surveys are also underway aimed at the identification of potential extensions to existing mineralized zones north and northwest of the Ccalla and Azulccaca Deposits as well as satellite targets.

"We are pleased with our on-going exploration program and particularly with the success of our community engagement programs in Peru. Together with the signing of the new agreement with the Ccalla Community, Panoro has now signed eight agreements over the past two plus years related to four of the Company's Projects.", stated the Company President and CEO, Luquman Shaheen.

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 and Antilla Copper-Molybdenum Projects which include 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. In September 2010, Xstrata announced US$6.7 billion of investment to develop the Las Bambas and Antapaccay projects. The region also includes First Quantum Minerals' Haquira Copper Project, HudBay Minerals' Constancia Copper Project and Southern Copper's Los Chancas Copper Project.

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

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
Email: info@panoro.com
Web: www.panoro.com

Renmark Financial Communications Inc. 
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Barry Mire: bmire@renmarkfinancial.com 

Media - Lynn Butler: lbutler@renmarkfinancial.com
Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

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

DEVELOPMENT STAGE
CODE : PML.V
ISIN : CA69863Q1037
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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
6/13/2011Arranges Private Placement
10/1/2010Closes First Tranche of Private Placement
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...
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
11/27/2012(Cotabambas)Announces Results from Ongoing Exploration at Cotabambas Cu/...
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
11/15/2010(Cotabambas)Commences Exploration at Cotabambas Copper-Gold Project in P...
9/27/2010(Antilla)Announces Termination of Antilla Project Agreement with Chan...
8/26/2010(Antilla)Antilla Joint Venture Drills 45 Metres of 0.73% Cu
8/20/2010(Antilla)Results from Antilla Joint Venture Project in Peru Highlight...
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...
5/1/2009(Antilla)Completes Quality Control and Validation Program for Antilla...
1/28/2009(Antilla)Successful Completion of 2008 Exploration Program at Antilla...
10/8/2008(Antilla)Expands Target Area at Antilla Project and Continues Success...
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
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...
11/15/2012(Cotabambas)Announces Community Agreement and Approval of Additional Min...
11/15/2012Announces Community Agreement and Approval of Additional ...
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...
11/1/2010Closes Third and Final Tranche of $6.5 Million Financing
10/18/2010Announces Increase in Financing to $6,500,000 and Closing of...
10/13/2010Announces Increase in Financing to $4,500,000
10/12/2010Announces Increase in Financing to $3,000,000
9/25/2010Clarifying press release
4/30/2010The Northern Miner - Panoro finds partner for Antilla in Per...
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
5/15/2009Grants Options
9/9/2008Research Capital presents update report on Panoro Minerals L...
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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TSX-V (PML.V)FRANKFURT (PZM.F)
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