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Panoro Minerals results from Drilling at Cotabambas

Mining News - Published on Wed, 20 Jun 2018

Image Source: SteelGuru
Panoro Minerals Ltd announced that additional assays results for six drill holes from its 100% owned Cotabambas porphyry copper-gold-silver project located in southern Peru.

The drillholes have intersected additional oxide and primary sulphide mineralization at the Maria Jose 1 & 2 Targets and the Petra Target. The intersection of skarn mineralization at the Petra Target has been newly identified. Additional drilling is planned in these areas in 2018.

The drill results are from the recently completed first phase of the 2018 drill program to further test the Maria Jose 1 and 2 and Petra David Targets following up on the discoveries made during 2017. The six drillholes include four drill holes at the Maria Jose 2 Target, 1 from the Maria Jose Target and 1 from the Petra David Target.

Mr Luquman Shaheen, President and CEO states that “The 2018 drilling to date has intercepted additional near-surface oxide copper mineralization at both Petra and Maria Jose adding to the potential to include a heap leach and SX/EW component to the Cotabambas Project. The underlying primary mineralization requires additional drilling to target the higher grade areas intercepted in 2017. The interception of skarn mineralization is a new component to the geologic potential within Cluster 1. The potential for connection with the Cluster 2 Skarn mineralization opens a new corridor for exploration potential. The drill permit expansion to include Cluster 2 is well advanced and we expect to have final approval soon. The Company has expanded the mapping and sampling campaign in this area to define additional drill targets.”

Maria Jose 1 Target
The 2017 drill campaign identified a potential copper oxide blanket over an area of 420 m by 150 m. A total of 663 m of drilling in three drillholes was completed in 2017. The oxide blanket was intercepted from surface to125 m depth with grades varying between 0.23% Cu and 0.28% Cu.

In 2018, drillhole CB-188 was collared 150 m to the southwest of drillhole CB-180, and oriented to the northeast. CB-188 intersected 130.3 m of oxide copper averaging 0.20% Cu, 0.03 g/t Au and 1.65 g/t Ag, including one interval of 20.3 m grading 0.33% Cu, underlain by 125.7 m of primary copper mineralization, grading 0.25% Cu, 0.02 g/t Au and 1.03 g/t Ag, including one interval of 24 m averaging 0.35% Cu. The Maria Jose Target mineral potential remains open for additional drilling in multiple directions.

Maria Jose 2 Target
The 2017 drill campaign identified three parallel mineral bodies over an area of 550 metres by 250 metres. The potential copper oxides blanket was intercepted to 75 metres depth and the primary copper mineralization to 350 metres depth, with grades varying between 0.20% Cu to 0.40% Cu. The copper mineralization was intruded by quartz monzonite dikes from 10 to 50 metres width, expanded and hosted mainly in andesite volcanics. This mineralization was identified with 3,573 m of drilling distributed in 11 drillholes.

During the 2018 drilling campaign, four additional drillholes were completed, three stepping out to the north and one to the south. To the north, drillhole CB-184 intersected two copper oxide blankets of 10.3 metre and 6.4 metres width grading 0.20% Cu and 0.23% Cu, respectively. Drillhole CB-186 intersected copper oxide mineralization from surface to 44.7 metres depth averaging 0.22% Cu, and a second interval of 35.9 metres of primary copper mineralization averaging 0.29% Cu, 0.07 g/t Au, and 1.85 g/t Ag, including two intervals of 10.1 metres and 7.2 metres, grading 0.51% Cu and 0.30% Cu, respectively. To the south, drillhole CB-189 intersected primary copper mineralization at different intervals to 522.4 m depth and the mineralization remains open. In Maria Jose 2 the mineralization potential remains open to the south and at depth for additional drilling.

Petra Target
In 2017, 8 drillholes were completed at the Petra-David target confirming copper oxides mineralization continuity over an area of 600 metres by 150 metres along a structural control in northeast direction, hosted in quartz monzonite porphyries and diorite rocks.

In 2018 the exploratory drillhole CB-185 was collared 200 m to the southeast of previous drillhole CB-172 in Petra. CB-185 was oriented to the northwest intersecting 10 metres of copper oxide blanket averaging 0.22% Cu, 0.03 g/t Au and 1.77 g/t Ag, underlain by an interval of primary copper mineralization of 23 m grading 0.27% Cu. At depth, two intervals of skarn type mineralization were intersected in a package of marbled limestones. The first interval of 4.0 m width include massive magnetite with andradite garnets averaging 0.35% Cu, 0.02 g/t Au, 3.95 g/t Ag, including 1.3 metres grading 0.94% Cu, 0.04 g/t Au and 6.55 g/t Ag and a second interval of 1.0 metres width with the similar mineralogy grading 0.38% Cu, 0.33 g/t Au, and 21.22 g/t Ag. The potential of skarn is open to the west towards the Guaclle target for additional drilling. Previous drilling at the Guaclle target has also intersected skarn mineralization indicating a potential connection with the skarn mineralization mapped at the Chaupec Target in Cluster 2.

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Posted By : Rabi Wangkhem on Wed, 20 Jun 2018
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