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Panoro Minerals Commences Drill Program at Cotabambas Project in Peru, Targeting High Grade, Near Surface, Low Cost Expansion Potential
VANCOUVER, British Columbia, May 23, 2017 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) ("Panoro", the "Company") is pleased to
About this update from Panoro Minerals Ltd.
[{"type":"text","content":"VANCOUVER, British Columbia, May 23, 2017 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (\"Panoro\", the \"Company\") is pleased to announce that it has commenced an exploration drill program at its 100% owned Cotabambas Cu/Au/Ag Project in Peru. The 14,000 m exploration program is targeting resource growth from four zones within Cluster 1 at the Cotabambas Project. The targets include high grade, near surface sulphides, oxide gold and oxide copper in close proximity to the proposed North Pit. The target areas are illustrated on the attached map and summarized below: Breccia TargetThe Breccia Target is located adjacent to the northern limit of the proposed North Pit along a northeast to southwest geologic structure. The existing resources of the Ccalla and Azulccaca deposits are also located along a similar and parallel structural control. This target was the subject of press release April 3, 2017, announcing the delineation of a new oxide gold zone. The target potential is defined by eleven gold anomalies distributed over an area of 1.0 km x 1.4 km and 2,000 m of exploration drilling is planned for the zone. The zone has the potential to contain near surface oxide gold mineralization with low copper grades indicating the potential to add a low cost gold heap leaching operation to the project. The oxide gold zone may be underlain by a blanket of oxide copper mineralization which will also be tested with the proposed drilling program. Petra-David TargetThe Petra David Target is located to the west side of the proposed North Pit over an area of 900 m by 200 m. The target is formed by mixed and oxide copper oxide mineralization hosted in porphyry outcroppings and 2,000 m of exploration drilling is planned for the zone. The zone has the potential to contain near surface oxide copper mineralization for the potential addition of a low cost heap leach and SX/EW component to the project. Maria Jose TargetThe Maria Jose Target is located 2 km to the northeast of the proposed North Pit along the local northeast to southwest geologic structure and covers an area of 1.2 km by 280m. The target is formed by pervasive supergene argillization in the surface and copper sulphides outcroppings hosted in andesite volcanic rocks intruded by porphyries related to th...