Panoro Signs Five-Year Access Agreement for Cotabambas Project
News related to:Panoro Minerals Ltd · 1 min read
Panoro Minerals Ltd. has signed a five-year agreement with the community of Cochapata, Peru, to grant the company surface access rights across the full extent of the community's lands. This agreement is part of the Cotabambas Copper/Gold/Silver Project, which is located in the Apurimac region of southern Peru.
The signing of this agreement marks another significant milestone for the Cotabambas Project, as it allows the next phase of infill and step-out drilling to commence at the North Pit.
The Convenio grants Panoro the necessary access to the North Pit, which is primarily located within the boundaries of the Cochapata Community. The company plans to complete approximately 10,000 meters of drilling at the North Pit to expand and further define the high-grade component of the mineral resource. Currently, 150 million tonnes of the 222 million tonnes are constrained by the North Pit shell.
The agreement includes investment commitments by Panoro into education, local employment, infrastructure, and support for seniors. Additionally, the Convenio provides for the acquisition of land near the City of Cusco, approximately 120 kilometers from Cochapata, and in proximity to the parcel of land acquired for the Community in 2018.
Panoro is focused on advancing its 100% owned Cotabambas Copper, Gold, and Silver Project. The project hosts Indicated Mineral Resources of 507.3 million tonnes grading 0.33% copper, 0.20 g/t gold, 2.42 g/t silver, and 0.0021% molybdenum, and Inferred Mineral Resources of 496.0 million tonnes grading 0.27% copper, 0.17 g/t gold, 2.53 g/t silver, and 0.0027% molybdenum. Within this resource, there are Indicated Mineral Resource totals of 129.0 million tonnes grading 0.70% copper, 0.44 g/t gold, 4.12 g/t silver, and Inferred Mineral Resources of an estimated 93.1 million tonnes grading 0.59% copper, 0.41 g/t gold, 5.31 g/t silver.
The Company is targeting the expansion of its higher-grade resources with its current drill program.
Qualified Person Luis Vela, P.Geo., Vice President, Exploration, has reviewed and approved the scientific and technical information in this news release.