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Panoro Minerals Announces Filing of Antilla Cu/Mo Project Preliminary Economic Assessment Technical Report and Issuance of Shares to Macquarie
VANCOUVER, British Columbia, June 16, 2016 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro” or the “Company”) is pleased
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, June 16, 2016 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro” or the “Company”) is pleased to announce the filing of the Technical Report for the Antilla Copper-Molybdenum Project, Peru Project Preliminary Economic Assessment Technical Report (PEA) on SEDAR. The results of the PEA were announced in a May 2, 2016, news release. The technical report was authored by SRK Consulting (Canada) Inc., 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 or SEDAR at www.sedar.com. About Panoro Panoro Minerals is a uniquely positioned Peru and Copper focused exploration company. The Company is advancing a significant project portfolio in the key Andahuaylas-Yauri belt in south central Peru, including its advanced stage Cotabambas Copper-Gold-Silver-Molybdenum and Antilla Copper-Molybdenum Projects. Since 2007, the Company has completed over 70,000 m of exploration drilling at these two key projects leading to substantial increases in the mineral resource base for each, as summarized in the table below. Summary of Cotabambas and Antilla Project Resources Project ResourceClassification Milliontonnes Cu (%) Au (g/t) Ag (g/t) Mo (%) Cotabambas Cu/Au/Ag Indicated 117.1 0.42 0.23 2.74 0.001 Inferred 605.3 0.31 0.17 2.33 0.002 @ 0.20% CuEq cutoff, effective October 2013, Tetra Tech Inc. Antilla Cu/Mo Indicated 291.8 0.34 - - 0.01 Inferred 90.5 0.26 - - 0.007 @ 0.175% CuEq cutoff, effective October 2015, Tetra Tech Inc. Preliminary Economic Assessments (PEA) have been completed for both the Cotabambas and Antilla Projects, the key results are summarized below. Summary of Cotabambas and Antilla Project PEA Results Key Project Parameters Cotabambas Cu/Au/Ag Project Antilla Cu/Mo Project Mill Feed, life of mine million tonnes 483.1 350.4 Mill Feed, daily tonnes 80,000 40,000 Strip Ratio, life of mine 1.25 : 1 0.85 : 1 BeforeTax1 NPV7.5% million USD 1,053 491 IRR % 20.4 22.2 Payback years 3.2 3.3 After Tax1 NPV7.5% million USD 684 225 IRR % 16.7 15.1 Payback years 3.6 4.1 Annual Average PayableMetals Cu thousand tonnes 70.5 36.8 Au thousand ounces 95.1 - Ag thousand ounces 1,018.4 - Mo thousand tonnes - 0.9 Initial Capital Cost million USD 1,530 603 1Project econom...