Panoro Minerals Ltd. (TSX VENTURE:PML)(BVLAC:PML)(FRANKFURT:PZM) has announced the commencement of its 2010 exploration program at its 100% owned Cotabambas Copper-Gold Project located in southern Peru.
Panoro will be completing a drill program of up to 5,500 m at the Ccalla and Azulccaca deposits within its Cotabambas project. The drill program will be focused on confirming the extension of these two deposits both peripherally to the currently defined mineralized zones as well as at depth. A man-portable drill rig operated by Energold Drilling Corp, based in Lima, Peru, is being mobilized to the project and drilling will begin shortly.
In addition to the drill program, Panoro is currently engaged in re-logging historical core samples, all of which are located at site. The objective is to update the geological model. Panoro will be conducting geophysical surveys to confirm drill targets for the next stage of drilling.
Following the completion of the drill program and, preliminary metallurgical testing will be conducted to estimate potential copper and gold recoveries. An updated NI 43-101 technical report is expected to be completed in the third quarter of 2011.
Concurrent with the 2011 exploration program, Panoro is continuing to pursue a community agreement with the Indigenous Community of Ccochapata. The permits, community agreements and tax agreements for the proposed 2010 drill program are complete.
Source: Panoro Minerals Ltd.