VANCOUVER, BC, Oct. 28, 2021 /CNW/ - Panoro Minerals
Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) (OTCQB: POROF)
announces today that they will be participating in Renmark
Financial Communications Inc.'s live Virtual Non-Deal Roadshow
Series to discuss its latest investor presentation on Thursday, October 28 at 1:00 PM PDT. Panoro Minerals Ltd. welcomes
stakeholders, investors, and other individual followers to register
and attend this live event.
The presentation will feature Luquman Shaheen, President and
Chief Executive Officer. Topics to be covered will include the
latest investor presentation followed by a live Q&A. Investors
interested in participating in this event will need to register
using the link below. As a reminder, registration for the live
event may be limited but access to the replay after the event will
be on The Company's Investor website.
REGISTER HERE:
https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-tsx-v-pml-otcqb-porof-2021-10-28-130000
To ensure smooth connectivity, please access this link using
the latest version of Google Chrome.
About Panoro
Panoro is a uniquely positioned Peru-focused copper exploration and
development company. The Company is advancing its flagship project,
the Cotabambas Copper-Gold-Silver Project located in the
strategically important area of southern Peru.
Panoro has completed strategic partnerships at three of its
projects:
- Wheaton Precious Metals - Precious Metals Purchase Agreement,
Cotabambas Project;
- Hudbay Minerals – NSR Royalty and Cash sale, Kusiorcco Project;
and
- Mintania – NSR Royalty and Cash sale, Cochasayhuas
Project.
At the Cotabambas Project, the Company is focused on delineating
growth potential while optimizing project economics.
Exploration and step-out drilling from 2017, 2018 and 2019 have
identified the potential for both oxide and sulphide resource
growth.
Summary of Cotabambas Project Resource
Project
|
Resource
Classification
|
Million
Tonnes
|
Cu (%)
|
Au (g/t)
|
Ag (g/t)
|
Mo (%)
|
CuEq
%
|
Cotabambas1
Cu/Au/Ag
|
Indicated
|
117.1
|
0.42
|
0.23
|
2.74
|
0.001
|
0.59
|
Inferred
|
605.3
|
0.31
|
0.17
|
2.33
|
0.002
|
0.44
|
@ 0.20% CuEq cutoff,
effective October 2013, Tetratech
|
|
1. Cotabambas
Project, Apurimac, Peru, NI 43-101 Technical Report on Updated
Preliminary Economic Assessment, amec foster wheeler and Moose
Mountain Technical Services, 22 September 2015
|
PEA has been completed for the Cotabambas Project, the key
results are summarized below.
Summary of Cotabambas Project PEA Results
Key Project
Parameters
|
|
Cotabambas
Cu/Au/Ag Project1
|
Process Feed, life of
mine
|
million
tonnes
|
483.1
|
Process Feed,
daily
|
Tonnes
|
80,000
|
Strip Ratio, life of
mine
|
|
1.25 : 1
|
|
|
|
|
Before
Tax1
|
NPV7.5%
|
million
US$
|
1,053
|
IRR
|
%
|
20.4
|
Payback
|
years
|
3.2
|
After
Tax1
|
NPV7.5%
|
million
US$
|
684
|
IRR
|
%
|
16.7
|
Payback
|
years
|
3.6
|
Annual Average
Payable Metals
|
Cu
|
thousand
tonnes
|
70.5
|
Au
|
thousand
ounces
|
95.1
|
Ag
|
thousand
ounces
|
1,018.4
|
Mo
|
thousand
tonnes
|
-
|
Initial Capital
Cost
|
million
US$
|
1,530
|
1. Project
economics estimated at commodity prices of; Cu = US$ 3.00/lb, Au =
US$ 1,250/oz, Ag = US$ 18.50/oz, Mo = US$ 12/lb
|
The PEA is considered preliminary in nature and include
Inferred Mineral Resources that 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 are
not Mineral Reserves and do not have demonstrated economic
viability.
Luis Vela, a Qualified Person
under National Instrument 43-101, has reviewed and approved the
scientific and technical information in this press release.
On behalf of the Board of Panoro Minerals Ltd.
Luquman Shaheen. M.B.A., P.Eng, P.E.
President & CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
Information and statements contained in this news
release that are not historical facts are "forward-looking
information" within the meaning of applicable Canadian securities
legislation and involve risks and uncertainties.
Examples of forward-looking information and statements contained
in this news release include information and statements with
respect to:
- Panoro weathering the current depressed equity and commodity
markets, minimizing dilution to
- existing shareholders and making targeted investments into
exploration at the Cotabambas Project;
- mineral resource estimates and assumptions;
- the PEA, including, but not limited to, base case parameters
and assumptions, forecasts of net present value, internal rate of
return and payback; and
- copper concentrate grade from the Cotabambas Project.
Various assumptions or factors are typically applied in drawing
conclusions or making the forecasts or projections set out in
forward-looking information. In some instances, material
assumptions and factors are presented or discussed in this news
release in connection with the statements or disclosure containing
the forward-looking information and statements. You are cautioned
that the following list of material factors and assumptions is not
exhaustive. The factors and assumptions include, but are not
limited to, assumptions concerning: metal prices and by-product
credits; cut-off grades; short and long term power prices;
processing recovery rates; mine plans and production scheduling;
process and infrastructure design and implementation; accuracy of
the estimation of operating and capital costs; applicable tax and
royalty rates; open-pit design; accuracy of mineral reserve and
resource estimates and reserve and resource modeling; reliability
of sampling and assay data; representativeness of mineralization;
accuracy of metallurgical test work; and amenability of upgrading
and blending mineralization.
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause
actual events or results to differ materially from those expressed
or implied by the forward-looking statements, including, without
limitation:
- risks relating to metal price fluctuations;
- risks relating to estimates of mineral resources, production,
capital and operating costs, decommissioning or reclamation
expenses, proving to be inaccurate;
- the inherent operational risks associated with mining and
mineral exploration, development, mine construction and operating
activities, many of which are beyond Panoro's control;
- risks relating to Panoro's or its partners' ability to enforce
legal rights under permits or licenses or risk that Panoro or its
partners will become subject to litigation or arbitration that has
an adverse outcome;
- risks relating to Panoro's or its partners' projects being
in Peru, including political,
economic and regulatory instability;
- risks relating to the uncertainty of applications to obtain,
extend or renew licenses and permits;
- risks relating to potential challenges to Panoro's or its
partners' right to explore or develop projects;
- risks relating to mineral resource estimates being based on
interpretations and assumptions which may result in less mineral
production under actual circumstances;
- risks relating to Panoro's or its partners' operations being
subject to environmental and remediation requirements, which may
increase the cost of doing business and restrict operations;
- risks relating to being adversely affected by environmental,
safety and regulatory risks, including increased regulatory burdens
or delays and changes of law;
- risks relating to inadequate insurance or inability to obtain
insurance;
- risks relating to the fact that Panoro's and its partners'
properties are not yet in commercial production;
- risks relating to fluctuations in foreign currency exchange
rates, interest rates and tax rates;
- risks relating to Panoro's ability to raise funding to continue
its exploration, development and mining activities; and
- counterparty risk under Panoro's agreements.
This list is not exhaustive of the factors that may affect the
forward-looking information and statements contained in this news
release. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward–looking information. The forward–looking information
contained in this news release is based on beliefs, expectations
and opinions as of the date of this news release. For the
reasons set forth above, readers are cautioned not to place undue
reliance on forward-looking information. Panoro does not
undertake to update any forward-looking information and statements
included herein, except in accordance with applicable securities
laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Panoro Minerals Ltd.