Geophysical Survey at Cotabambas Identifying Porphyry and Skarn Potential at Cotabambas Project, Peru
(PresseBox) - Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) ("Panoro", or the "Company" - https://www.commodity-tv.net/c/search_adv/?v=298884) is pleased to announce the completion of the 2019 geophysical survey at the Cotabambas Project.
Identified a large chargeability anomaly underlying porphyry mineralization exposed at surface, indicative of the potential for a new porphyry target at depth (see Figure 1);
indicating the potential for skarn mineralization at depth where a high gravimetric zone is located in close proximity of the high chargeability anomaly and also in close proximity to the limestone formation exposed at surface corresponding to the outcroppings of skarn mineralization mapped at surface with high grades (see Figure 2); and
High magnetics response over and to the sides of the zone of high chargeability, indicative skarn mineralization potential at the contact between a potential porphyry and the limestone unit.
Luquman Shaheen, President & CEO of Panoro states, ?The results of the 3-D interpretation of the geophysical survey are demonstrating some interesting growth and scale potential for the Cotabambas Project. to commence immediately.?
The detailed ground geophysics testwork was completed at the Chaupec Target, in Cluster 2 of the Cotabambas Project. The survey covered an area of 0.5 km by 1.0 km and focussed on the northern extreme of Zone 1.
The area tested contains surface exposures of Skarn bodies of garnets and piroxenes intercalated with narrow porphyry dikes of quartz monzonite composition hosting copper minerals such as chalcocite, covellite, chalcopyrite, bornite and copper oxides reporting copper grades of up to 5.0% Cu. This geologic environment covers an area of approximately 400 m by 600 m elongated in northwest direction and remains open to the south.
The highest chargeabilities measured from 8 to 11 mV/V and are located from 120 m to 350 m depth below the skarn/porphyry dikes outcroppings, covering an area of 240 m by 550 m with the same strike of the copper mineralization.>0.116n.T.) are located next to and around the high chargeability zone. The high resistivity signatures (1800 to 3,000 Ohm/m) overlap the front of limestones with a smooth increase into the main chargeability zone. Finally the gravimetry found a high density zone (1.2 to 1.9 grms/cm3) in east-west direction crosscutting the high chargeability and magnetics.
The sharp change in strike in the outcropped Skarn overlaps the area of high density, high magnetics and high chargeability that may suggest the possible stock porphyry location as the principal source of the copper mineralization, skarns and porphyry dikes exposed in surface.
The main Cu-Au-Ag skarn bodies may be located near the porphyry stock in contact with the limestones.
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 Projects 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.
Since 2007, the Company has completed over 80,000 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.
The PEAs are considered preliminary in nature and include Inferred Mineral Resources that are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the updated PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Luis Vela, a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
On behalf of the Board of Panoro Minerals Ltd.
Luquman Shaheen. PEng, PE, MBA
President & CEO
FOR FURTHER INFORMATION, CONTACT:
Panoro Minerals Ltd.
Luquman Shaheen, President & CEO
Phone: 604.684.4246
Fax: 604.684.4200
Email: info(at)panoro.com
Web: www.panoro.com
Renmark Financial Communications Inc.
Melanie Barbeau
Tel.: (514) 939.3989
bmbarbeau(at)renmarkfinancial.com
www.renmarkfinancial.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation:
risks relating to metal price fluctuations;
risks relating to estimates of mineral resources, production, capital and operating costs, decommissioning or reclamation expenses, proving to be inaccurate;
the inherent operational risks associated with mining and mineral exploration, development, mine construction and operating activities, many of which are beyond Panoro?s control;
risks relating to Panoro?s ability to enforce Panoro?s legal rights under permits or licenses or risk that Panoro?s will become subject to litigation or arbitration that has an adverse outcome;
risks relating to Panoro?s projects being in Peru, including political, economic and regulatory instability;
risks relating to the uncertainty of applications to obtain, extend or renew licenses and permits;
risks relating to potential challenges to Panoro?s right to explore and/or develop its projects;
risks relating to mineral resource estimates being based on interpretations and assumptions which may result in less mineral production under actual circumstances;
risks relating to Panoro?s operations being subject to environmental and remediation requirements, which may increase the cost of doing business and restrict Panoro?s operations;
risks relating to being adversely affected by environmental, safety and regulatory risks, including increased regulatory burdens or delays and changes of law;
risks relating to inadequate insurance or inability to obtain insurance;
risks relating to the fact that Panoro?s properties are not yet in commercial production;
risks relating to fluctuations in foreign currency exchange rates, interest rates and tax rates; and
risks relating to Panoro?s ability to raise funding to continue its exploration, development and mining activities.
This list is not exhaustive of the factors that may affect the forward-looking information and statements contained in this news release.ith applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Datum: 13.03.2019 - 11:15 Uhr
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News-ID 1547645
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