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Panoro Minerals Announces Filing of Antilla Copper Project Heap Leach & SX/EW Preliminary Economic Assessment Technical Report
VANCOUVER, British Columbia, June 26, 2018 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro”, the “Company”) is pleased t
About this update from Panoro Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, June 26, 2018 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro”, the “Company”) is pleased to announce the filing of the Technical Report for the Antilla Copper Project Preliminary Economic Assessment Technical Report (PEA) on SEDAR. The results of the PEA were announced in a May 14, 2018 news release. The technical report was authored by Moose Mountain Technical Services Ltd., Tetra Tech Inc. and Panoro Minerals Ltd. The report is available on the Company’s website at www.panoro.com and on SEDAR at www.sedar.com. The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cuzco in the Apurimac region in Southern Peru. The PEA results are highlighted as follows: Highlights • Pre-Tax Estimates: NPV (7.5%) of US$ 519.8 million; IRR of 34.7%; and Payback of 2.6 years. • After-tax Estimates: NVP (7.5%) of US$ 305.4 million; IRR of 25.9%; and Payback of 3.0 years. • Conventional open pit mine focused on supergene copper sulphides; • Heap Leach and Solvent Extraction Electrowinning (SX/EW) process; • Design throughput of 20,000 tonnes per day with an operational mine life of 17 years; • Low waste to process feed ratio of 1.38:1; • Average annual payable copper of 46.3 million pounds, as Cathodes; • Average direct cash costs (C1) of US$1.51 per pound of payable copper; • Initial Project capital costs of US$250.4 million, including contingencies; and • Good potential for discovery of additional supergene mineralization adjacent to the current mineral resource area. 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 Project, both 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 th...