Panoro drill results find expansion potential at Cotabambas

Drillhole CB-201 is a step out hole that intersected almost 23 m of mixed mineralization grading 0.40% copper equivalent suggesting the higher grades may be expanded at depth.

Drillhole CB-202 was a step out hole 100 metres below the mineralization intersected in hole CB-20. The hole intersected primary copper mineralization along 237.6 metres averaging 0.25% copper, 0.20 g/t gold and 1.65 g/t silver (0.43% copper-equivalent), including 108.4 metres grading 0.36% copper, 0.31 g/t gold and 2.50 g/t silver (0.63% copper-equivalent), and including 52.8 metres averaging 0.48% copper, 0.44 g/t gold, 3.50 g/t silver (0.87% copper-equivalent).

Drillhole CB-203 is a step out hole located 100 m to the east of the previously executed CB-196. It represents the northernmost mineralization intersected in the South pit. The hole CB-203 intersected copper mineralization within the diorite host rock from depths of 112.6 metres to 706.4 metres, including an interval of almost 190.0 metres averaging 0.29% copper, 0.23 g/t gold, 1,72 g/t silver (0.49% copper-equivalent).

According to Panoro, the results are confirming the interpretations in the current exploration model, indicating the potential to expand the resource at depth and along strike. The South pit is interpreted as an early and different porphyry pulse of copper-silver mineralization rich in gold, as suggested by geochronology studies and the lower copper:gold and silver:gold ratios than in the North pit. The re-logging for the geologic modelling update and the expansion of the south pit is still in progress.

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