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Finally, a lithocap of andesite volcanic hides the previous lithologies and mineralization under the surface, following an overthrust faulting in a west direction. A second faulting system in North 60-80 East direction intersects the porphyry at its north extreme, where other porphyry stages intrude (the QMP1) and enrich the metal concentration. A porphyry of quartz monzonite composition (QMP2) is emplaced along a structural control in an almost North-South direction into the diorite host rock, and subsequent intrusions of narrow dikes of QMP3, quarciferous/dacite, monzonite and latite compositions. Six holes have been completed in the South pit in for a total of 16 holes (6,166m). The interval is part of an extensive hypogene mineralization developed in the hanging wall of a quartz monzonite porphyry not intersected by drillhole CB-196, suggesting blocks have been moved by local faulting. CB-200 intersected almost 50 m of primary copper mineralization averaging 0.31% Cu, 0.27 g/t Au, 2.14 g/t Ag (0.53 Cueq %). The hole intersected a fault system constraining the lateral mineral continuity, intersecting two copper anomalies hosted in the diorite with moderated potassic alteration.ĭrillhole CB-200 located 100 m above CB-196, where the high-grade was intersected. and widths between 180 and 260m.ĭrillhole CB-199 is located 150 m to the east of the high grade intersected by drillholes CB-195 and CB198, and 100 m above the mineralization intersected by drillhole CB-20, Figure 2. The three holes completed in this section confirm a vertical continuity of the high grade of 350 m, with grades varying between 0.67% and 0.92% Cueq. The quartz monzonite porphyry with potassic and SCC alterations is hosting a wide stockwork of quartz veinlets with chalcopyrite, pyrite and magnetite. The intersections show intensive faulting suggesting the high-grade mineral block was moved to depth and northwest, in direction to the North pit.ĭrillhole CB-198 explored the high-grade continuity in section 5W, intersecting copper primary mineralization along 260.0 m averaging 0.43%Cu, 0.61 g/t Au and 2.72 g/t Ag (0.90% Cueq) including 130.4 m grading 0.58% Cu, 0.95 g/t Au and 3.41 g/t Ag (1.31 % Cueq) underlain by 53.9 m averaging 0.40% Cu, 0.37 g/t Ag and 2.83 g/t Ag (0.70 % Cueq). The mineralization is contained within the diorite host rock printed with an overlapping of potassic, SCC and phyllic alterations. The hypogene mineralization was intersected in five splits with copper and gold anomalies. Cu equivalent grade estimated at spot prices of Au=USD 1771/oz, Ag=USD 20.13/oz and Cu=USD 3.52/lbĭrill hole CB-197 explored the easter continuity of the new high grade intersected by the previously announced hole CB-196, located 150m to the west.

The most significant results are listed in the table below.ġ. See the locations of the holes on the map Figure 2. The purpose of Holes CB-197 and CB-199 was to confirm the east and west continuity of the Copper-Gold high-grades near the surface, respectively and the purpose of holes CB-198 and CB-200 was to confirm the lateral and vertical continuity. This will result in important upsides to the prefeasibility study.”, stated Luquman Shaheen, President & CEO. The high-grade continuity indicates the potential to replace lower grade resource within the mine plan with higher grades including in the early part of the mine plan. “Drillhole CB-198 delineates the high-grade core contained within the South Pit to approximately 350 m depth, to the bottom of the pit shell defined in the PEA mine plan and indicates continuity to a depth of over 500m to the pit shell constraining the global resource. The intersection includes 130.4 m averaging 0.58% Cu, 0.95 g/t Au and 3.41 g/t, Ag (1.31 % Cueq) Hole CB-198 confirms the high-grade continuity between the previous holes CB-23 and CB-195, intersecting a 260 m length of primary copper sulfide mineralization averaging 0.43% Cu, 0.61 g/t Au and 2.72 g/t, Ag (0.90% Cueq), related to a porphyry stock of quartz monzonite composition intruding the diorite host rock, Figure 1.

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(TSXV: PML, Lima: PML, Frankfurt: PZM, OTCQB: POROF) ('Panoro', the 'Company') is pleased to announce results of four additional drill holes from its 16,970 m drill program, the aim of which is to expand the high-grade resource and upgrade inferred to indicated resources at the Company’s Cotabambas Cu/Au/Ag Project in southern Peru. VANCOUVER, B.C., Aug– Panoro Minerals Ltd.