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Panoro Minerals Ltd.
Summary
| Project: | Antilla | |
|---|---|---|
| Deposit: | Antilla | |
| Location: | Peru | |
| Commodities: | Copper-Molybdenum | |
| Date: | 5/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 14-5-2018: Panoro Minerals Ltd. announces a PEA report for its Antilla deposit at the Antilla project. PEA results incl. post-tax NPV of US $305.4M (7.5%), IRR of 25.9%, 17yr LOM at the project. VANCOUVER, British Columbia, May 14, 2018 -- Panoro Minerals | |
| Resources: | (Resource): 291.8Mt @ 0.34% Cu, 0.01% Mo (Ind.) and 90.5Mt @ 0.26% Cu, 0.007% Mo (Inf.) | |
| CP/QP: | [Overall Report]: Jesse Aarsen (Moose Mountain Technical Services Ltd.) | |
| ABSTRACT: | VANCOUVER, British Columbia, May 14, 2018 -- Panoro Minerals Ltd. (TSXV:PML) (Lima:PML) (Frankfurt:PZM) (“Panoro”, the “Company”) is pleased to announce that it has received the results of an independent Preliminary Economic Assessment ("PEA") of the Company's 100% owned Antilla project in Peru. The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cuzco, in the Apurimac region in Southern Peru. Having completed the optimization of the Antilla Project, the Company will be completing a strategic review of the development and financing plans to put the Antilla Project on the road to development. The PEA was prepared by Moose Mountain Technical Services Ltd. (“MMTS”) in accordance with the definitions in Canadian National Instrument 43-101. The PEA is based on a Mineral Resource estimate completed by Tetra Tech Inc. (“Tetra Tech”) in December 2013, based on 2,919 metres of drilling from legacy campaigns (2003-5), 9,130 metres of drilling by Panoro (2008), and 2,242 metres of drilling during a joint venture agreement with Chancadora Centauro SA (CHC) in 2010. The Mineral Resource estimate includes primary and supergene sulphides, as well as mixed hypogene and supergene copper mineralization. The PEA is considered preliminary in nature. The mine plan of the PEA includes 113.3 million tonnes of Indicated Mineral Resources and 5.4 million tonnes of Inferred Mineral Resources. Inferred Mineral Resources are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. | |
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