Panoro Minerals Ltd. (TSXV:PML) has received an updated mineral resource estimate for its 100% owned Antilla porphyry copper-molybdenum project located in southern Peru.
According to the company’s press release highlights from the update include:
- Base Case Indicated mineral resource of 188.5 million tonnes at 0.40% Cu and 0.009% Mo at a cut-off of 0.20% Cueq;
- Base Case Inferred mineral resource of 145.9 million tonnes at 0.28% Cu and 0.009% Mo at a cut-off of 0.20% Cueq;
- The new resource reflects a 38% increase in contained copper and 53% increase in contained molybdenum;
- The strip ratio of the conceptual pit shell used to constrain the mineral resource is reduced to 1:1 from 2.5:1 in the 2012 resource estimate; Potential to increase resource tonnage in several directions and below the current pit shell through additional drilling on the basis of strong copper-molybdenum mineralization; and
- New exploration targets identified on the Antilla property.