Business
Panoro Increases Copper and Gold Resources by 40% at the Cotabambas Project
VANCOUVER , Oct. 29, 2013 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) ...
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"\n\n\nVANCOUVER, Oct. 29, 2013 /CNW Telbec/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) (\"Panoro\", the \"Company\")\n Panoro is pleased to announce that it has received the mineral resource\n estimate for its 100% owned Cotabambas porphyry copper-gold-silver\n Project located in southern Peru from Tetra Tech .\n\n\nHighlights\n\n\nBase Case Indicated mineral resource of 117.1 million tonnes at 0.42%Cu,\n 0.23 g/t Au, 2.74 g/t Ag and 0.0013%Mo at a cut-off of 0.20% Cueq;\n\n\nBase Case Inferred mineral resource of 605.3 million tonnes at 0.31% Cu,\n 0.17 g/t Au, 2.33 g/t Ag and 0.0019%Mo at a cut-off of 0.20 % Cueq;\n\n\nThe new resource reflects a 40%, increase in contained copper, a 41%\n increase in contained gold and a 51% increase in contained silver;\n\n\nThe strip ratio of the conceptual pit shell used to constrain the\n mineral resource is reduced to 1.3:1 from 3.0:1 in the 2012 resource\n estimate;\n\n\nRemaining potential to increase resource tonnage in several directions\n and below the current pit shell through additional drilling on the\n basis of strong copper-gold mineralization; and\n\n\nMultiple new exploration targets identified on the Cotabambas property.\n\n\n\n\n\nMineral Resource Estimate\n\n\nTetra Tech completed the mineral resource estimate for the Cotabambas\n project utilizing all drill and assay results available to June 20,\n 2013 including 56,813 meters of drilling by Panoro and 9,923 meters of\n drilling from legacy campaigns. The mineral resource estimate includes\n hypogene and supergene sulphides and oxide copper and gold\n mineralization from the Ccalla and to a lesser extent the Azulccacca\n zones contained within a single conceptual pit shell. The conceptual\n pit shell has been modelled to include that portion of the mineral\n resource block model having a reasonable prospect for economic\n extraction based on the current knowledge of the deposit. The mineral\n resource estimate in the Indicated Category is summarized in Tables 1\n and 2 below. Figures \"Plan 1\", \"Cross-Section 1\" and \"Cross-section 2\"\n further illustrate the resource and can be found at:http://www.panoro.com/s/Cotabambas.asp?ReportID=592279&_Type=Cotabambas&_Title=Maps\n \n\n\nTable 1: Sensitivity of Indicated Mineral Resource to Cut-off Grade \n\n\n\n\n\nCut-Off Grade% Cueq\n\n\nMillionTo...