Panoro Reports Positive Preliminary Economic Assessment for Antilla Copper Project

Panoro Minerals (TSXV: PML) has announced that it has received the results of an independent Preliminary Economic Assessment (PEA) of the Company’s Antilla copper-molybdenum porphyry project in southern Peru.

According to the press release, Antilla is a conventional open-pit mine focused on supergene copper sulfides, with a design throughput of 20,000 tonnes per day, an operational mine life of 17 years and an average annual payable copper of 46.3 million pounds.

As quoted in the press release:

Having completed the optimization of the Antilla Project, the Company will be completing a strategic review of the development and financing plans to put the Antilla Project on the road to development.

President and chief executive officer of Panoro, Luquman Shaheen said:

“The redesign of the Antilla Project has resulted in significantly improved project economics. The mine plan has focused on the higher grade, near surface secondary sulfides, which are amenable to processing through heap leaching, solvent extraction, and electrowinning. As a result, the initial capital costs have been reduced by 59 percent, the C1 cash costs reduced by 18 percent, the C2 cash costs by 23 percent and the sustaining capital required for a tailings facility has been eliminated.”

Click here to read the full Panoro Minerals Ltd. (TSXV:PML) press release.