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Panoro Minerals Announces the Discovery of a New High-Grade Skarn/Porphyry Zone of Mineralization at its 100% owned Cotabambas Cu/Au/Ag Project, Peru
VANCOUVER, B.C., July 25, 2016 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro” or the “Company”) is pleased to report t
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"VANCOUVER, B.C., July 25, 2016 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro” or the “Company”) is pleased to report the discovery of a new zone of skarn mineralization known as the Chaupec zone. Three main mineralized zones have been defined over an area of approximately 1-km by 3-km with strong copper values and located 3 to 4 km to the west of the current project resource limits as shown on the attached map. A map accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f0dbd017-5432-46c2-89f3-ff0f8ecacaf3 Exploration work since 2013 has continued to outline a number of porphyry-style copper/gold mineralized zones outside of the main Ccalla-Azulccacca resource for which a Preliminary Economic Assessment was published in September 2015. Geological mapping, rock chip sampling and ground geophysical surveys on the property have identified a number of NE structural trends which appear to be important controls on the location of mineralization. The newly discovered Chaupec skarn mineralization is located at the intersection of one of these trends where it intersects with a major northerly structural trend extending 40 km north from the Las Bambas mine which has recently been put into production by MMG and will become one of Peru’s largest new copper mines. The accompanying map shows the location of all known structural trends and mineralized zones located to date on the property. Two clusters of mineralized zones are becoming evident. The first, Cluster 1, consists of at least six porphyry-style occurrences over a 4-km by 8-km area and includes the Ccalla and Azulccaca zones which together comprise the current resource base on the property. A second grouping over a 4-km by 12-km area to the southwest, Cluster 2, includes significant skarn-type mineralization in the Jean Louis, Ccayroyoc and newly defined Chaupec zones. Some porphyry-style copper mineralization is also present. Other than at Ccalla and Azulccaca, these targets have not seen significant drilling as yet and represent excellent discovery potential. In 2016 and 2017 Panoro is planning a drilling campaign of 14,000 meters into the Cochapata and Maria Jose zones that may represent the northerly continuation of the Ccalla zone. The Chaupec Target Mineralization at Chaupec co...