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Panoro Minerals Announces Exploration Plans for Humamantata Copper Project, Peru
VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) (“Panoro”, the “Company”) is pleased
About this update from Panoro Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) (“Panoro”, the “Company”) is pleased to announce its exploration plans for its Humamantata Project located in southern Peru. The Company and its Joint Venture Partner, the Japan Oil, Gas and Metals National Corporation, “JOGMEC”, have agreed to an exploration investment program to be completed before Q4 2020. The exploration program will include: Geologic Mapping over the entire property with detailed mapping over targets identified to date; A Geochemistry survey with the collection of approximately 1,200 rock samples over specific targets; Two-Dimensional Geophysics, including: 80 km Induced Polarization survey over the entire property; and 40 km of Magnetometric survey. Three-Dimensional Geophysics, including: 60 km of Induced Polarization survey over entire property; 80 km of Magnetometric survey; and 400 point Gravity survey over 3 identified targets. Exploration Drilling, including 2,400 m of diamond drilling over three identified targets each exploration drill hole of approximately 300 m depth 2-3 drillholes in each of the 3 identified targets. The proposed work program is fully funded by JOGMEC pursuant to the Joint Venture agreement announced in October 2018. Panoro is working closely with the local communities and private land owners to complete the necessary agreements and the environmental studies as part of the permitting process in Q1 2020. The mapping, geochemistry and geophysical works are scheduled to begin as soon as permits are completed with the drilling scheduled to begin in Q3 2020. Humamantata Property The Humamantata Property covers an area of 3,600 hectares and is located in Southern Peru together with Panoro’s advanced stage projects, the Antilla and Cotabambas Projects. The Humamantata Project is also nearby operating copper mines such as Hudbay’s Constancia Mine and the Kusiorcco Project where Panoro holds a 2% NSR Royalty which is also being advanced by Hudbay. The Company has completed exploration in Humamantata, including geologic mapping at 1:10,000 and 1:5,000 scale, geochemistry surveys, 80 km of ground Magnetometry and Airborne Magnetometry and K-Th spectral overall the property. The property contains different types of mineralization: Cu-Au Skarn/Porphyry...