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Re: News Release - Friday, May 01, 2009
Panoro Completes Quality Control and Validation Program for
Antilla Project (Peru) Independent Resource Estimate. Results
expected in June.
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Vancouver, B.C. and Lima, Peru, May 1, 2009. Panoro Minerals Ltd. (TSX
Venture Exchange - PML) ("the Company") announces it has completed a
rigorous Quality Assurance and Quality Control program on the assay
results from the exploration program completed in December 2008 at its
flagship Antilla Project in Peru. The program is in support of the NI
43-101 compliant resource estimate being conducted by AMEC.
In addition to the insertion of blanks, standards and duplicates into
the sample shipments and strict on-site and off-site security measures,
the company composited 135 mineralized and low grade intersections from
its 48 drillhole exploration program. The composite samples were
analyzed for Total Copper, Cyanide Soluble Copper, Acid Soluble Copper
and Residual Copper to support the planned metallurgical testing
programs and to provide additional verification of assay results.
The calculated average assay results from the two metre intervals
corresponding to each of the 135 composite samples were compared with
the Total Copper analysis of the composite samples. The results
correlate with a correlation coefficient of 0.99, with the exception of
three of the 135 composite samples.
The two-metre samples that correspond to the three discrepant composite
samples were sent to a second independent laboratory for check
assaying. The assay results and subsequent investigation determined
that the original laboratory erred in the handling and processing of
the batch that included these samples. The original results from these
samples that included the 44 metre to 92 metre interval of drillhole
ANT-64-08 of 1.08% copper, published in the Company's News Release of
January 28, 2009 had to be deleted from the database. A second
intersection in the same hole, from 286 metre to 308 metre depth with
an average grade of 0.44% copper was confirmed by the validation
program. Confirmation of this intersection reinforces the extension of
the target chalcocite blanket to the north-west side of the East Block
Target Area.
The company is working very closely with AMEC to complete the geologic
model and establish the parameters for the completion of the NI 43-101
compliant resource estimate.
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) 2009 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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