Panoro Minerals Increases Resource Estimate by 40%

Panoro Minerals (TSXV:PML) said this week that it has updated the resource estimate for its Cotabambas porphyry copper-gold-silver project located in southern Peru. The new estimate shows 4 percent more copper, a 41 percent increase in gold, and 51 percent more silver.

Highlights from the press release:

• Base Case Indicated mineral resource of 117.1 million tonnes at 0.42%Cu, 0.23 g/t Au, 2.74 g/t Ag and 0.0013%Mo at a cut-off of 0.20% Cu_eq;

• Base Case Inferred mineral resource of 605.3 million tonnes at 0.31% Cu, 0.17 g/t Au, 2.33 g/t Ag and 0.0019%Mo at a cut-off of 0.20 % Cu_eq;

• The new resource reflects a 40%, increase in contained copper, a 41% increase in contained gold and a 51% increase in contained silver;

• The strip ratio of the conceptual pit shell used to constrain the mineral resource is reduced to 1.3:1 from 3.0:1 in the 2012 resource estimate;

• Remaining potential to increase resource tonnage in several directions and below the current pit shell through additional drilling on the basis of strong copper-gold mineralization; and

• Multiple new exploration targets identified on the Cotabambas property.

Click here for the full press release by Panoro Minerals (TSXV:PML)