Panoro Minerals Discovers High-Grade Mineralization at Cotabambas Project

Panoro Minerals Ltd has made significant progress in its exploration efforts at the Cotabambas project in Peru, intersecting high-grade mineralization in several drillholes. The company drilled three holes, CB-229, CB-2282, and CB-230, which collectively returned multiple high-grade intersections, providing new insights into the geological structure and potential for further mineralization.

In drillhole CB-2282, Panoro intersected 317.6 meters of high-grade mineralization from surface to 850 meters depth, associated with the Principal Porphyry (QMP1) intrusive. This discovery is particularly exciting as it showcases the potential for a larger high-grade zone. The mineralization includes significant copper and gold values, averaging 0.42% CuEq (0.36% Cu, 0.07 g/t Au, 1.06 g/t Ag) over 1 meter, with localized intervals reaching up to 0.67% Cu, 0.15 g/t Au, and 3.0 g/t Ag (0.75% CuEq). The presence of pervasive K-feldspar, magnetite, and chlorite alteration, along with quartz veinlets, suggests the proximity of a potentially rich exo-skarn environment beneath the South Pit.

Another notable intersection was found in drillhole CB-230, which terminated in over 39.2 meters of Principal Porphyry (QMP1) intrusive. This zone exhibited intense hypogene copper mineralization averaging 0.42% CuEq, with intervals up to 0.67% Cu, 0.15 g/t Au, and 3.0 g/t Ag. The mineralization was associated with chalcopyrite, pyrite, and molybdenite, and was characterized by pervasive K-feldspar, magnetite, chlorite alteration, and intensive quartz veinlets.

Drillhole CB-229, while less detailed in the release, was also part of the exploration effort and likely contributed to the overall understanding of the mineralized zones. The company's geologists are now working to build a comprehensive exploration model based on the new data, which will inform future drilling and development plans.

These discoveries are significant as they provide a clearer picture of the Cotabambas deposit's potential, particularly the presence of a large, high-grade zone. The Principal Porphyry (QMP1) intrusive continues to be a key feature, with its association with high-grade mineralization suggesting a strong potential for further high-grade intersections.

Panoro Minerals Ltd is now focused on refining its exploration model to better understand the geological complexity and potential for additional high-grade mineralization. The company's geologists will continue to analyze the data and develop strategic plans to explore and potentially develop the Cotabambas project further.