VANCOUVER, British Columbia, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) ("Panoro", the "Company") is pleased to provide additional assay results from its drill program at Maria Jose Target at Cluster 1 of its 100% owned Cotabambas Cu/Au/Ag Project in Peru.
Drill hole CB-183 intersected a 127.6m interval of hypogene copper mineralization in a quartz monzonite porphyry intruding andesite volcanics beginning at 199.6m and averaging 0.41% Cu, 0.06 g/t Au and 2.0 g/t Ag, including 37.0m grading 0.56% Cu, 0.10 g/t Au and 2.8 g/t Ag and 52.9m averaging 0.46% Cu, 0.07g/t Au and 2.1 g/t Ag.
Drill hole CB-183 also intersected an 18.8m thick blanket of oxide copper mineralization beginning at 56.3m and averaging 0.28% Cu, 0.04g/t Au and 2.1 g/t Ag. A deeper 38.9m interval of hypogene copper mineralization beginning at 450.5m and grading 0.27% Cu, 0.03g/t Au and 1.7g/t Ag was intersected in andesitic volcanics. Mineralization is still open at depth.
Drill hole CB-183 is located 300 m to the east of previously published drill holes CB-157 and CB-161. These results indicate significant expansion potential for both oxide and hypogene copper mineralization to the east of the Maria Jose 2 target.
Drill hole CB-168 is located 500 m to the west of drill hole CB-183, and intersected a 46.7m interval of oxide copper mineralization in andesitic volcanics, beginning at 2.0m and averaging 0.20% Cu, 0.02 g/t Au, 1.0 g/t Ag, including 11.0m grading 0.31% Cu, 0.03 Au g/t, 1.5 g/t Ag.
“The 2017 drill program has been successful in delineating near surface oxide mineralization at both the Petra-David and Maria Jose Targets,” commented Luquman Shaheen, CEO and President of Panoro. “The exploration has also identified hypogene mineralization at the Maria Jose Target. In 2018, Panoro will continue drilling these targets where the 2017 results will help guide drill targetting of higher grade and near surface zones of both oxides and sulphides at both the Petra-David and Maria Jose Targets in Cluster 1. Panoro is also planning to commence drilling at the Chaupec Target at Cluster 2 in 2018.”
Except for an intersection of 2.1m grading 1.51 g/t Au, drill holes CB-166 and CB-169 did not intersect significant mineralization, but did enhance our understanding of the Maria Jose 2 Target in guiding its continuing exploration.
A location plan can be found at the Company’s website, www.panoro.com
| Drillhole | From (m) | To (m) |
Intersections (m) | Cu % |
Au g/t |
Ag g/t |
Mo % |
Zone |
| CB-166 | 100.9 | 102.9 | 2.1 | 0.06 | 1.51 | 0.8 | 0.0063 | Mixed |
| " " | 197.3 | 203.2 | 5.9 | 0.24 | 0.01 | 1.2 | 0.0128 | Hypogene |
| CB-168 | 2.0 | 48.7 | 46.7 | 0.20 | 0.02 | 1.0 | 0.0010 | Oxides |
| Including | 26.0 | 37.0 | 11.0 | 0.31 | 0.03 | 1.5 | 0.0009 | Oxides |
| CB-169 | No significant intersections | |||||||
| CB-183 | 56.3 | 75.1 | 18.8 | 0.28 | 0.04 | 2.1 | 0.0008 | Oxides |
| Including | 68.2 | 75.1 | 6.9 | 0.52 | 0.09 | 3.7 | 0.0004 | Oxides |
| " " | 199.6 | 327.2 | 127.6 | 0.41 | 0.06 | 2.0 | 0.0008 | Hypogene |
| Including | 215.4 | 252.4 | 37.0 | 0.56 | 0.10 | 2.8 | 0.0007 | Hypogene |
| Including | 216.9 | 222.1 | 5.2 | 0.67 | 0.06 | 2.8 | 0.0012 | Hypogene |
| Including | 239.3 | 252.4 | 13.1 | 0.74 | 0.15 | 3.7 | 0.0006 | Hypogene |
| Including | 270.4 | 323.2 | 52.9 | 0.46 | 0.07 | 2.1 | 0.0008 | Hypogene |
| Including | 272.4 | 292.9 | 20.5 | 0.55 | 0.10 | 2.3 | 0.0004 | Hypogene |
| " " | 450.5 | 489.3 | 38.9 | 0.27 | 0.03 | 1.7 | 0.0007 | Hypogene |
| Including | 457.7 | 476.6 | 18.9 | 0.36 | 0.03 | 1.9 | 0.0005 | Hypogene |
About Panoro
Panoro Minerals is a uniquely positioned Peru focused copper exploration and development company. The Company is advancing its flagship project, Cotabambas Copper-Gold-Silver Project and its Antilla Copper-Molybdenum Projects located in the strategically important area of southern Peru. The Company is well financed to expand, enhance and advance its projects in the region where infrastructure such as railway, roads, ports, water supply, power generation and transmission are readily available and expanding quickly. The region boasts the recent investment of over $US 15 billion into the construction or expansion of four large open pit copper mines.
