VANCOUVER, British Columbia, May 18, 2016 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSX-V:PML)
(Lima:PML) (Frankfurt:PZM) (“Panoro”, the “Company”) is pleased to announce the appointment of Shannon Ross, CPA, CA as Chief
Financial Officer, effective immediately. Ms. Ross has been acting in controller and finance functions with Panoro since October
2014, and is currently the Corporate Secretary.
Ms. Ross has over 25 years of accounting and financial management experience in the mining industry. She began
her career in public practice, moving to the mining industry initially in internal audit for Cominco Ltd., before moving to the
exploration industry. She has served as CFO and Corporate Secretary for several companies including Northern Orion Resources,
Canaco Resources Ltd. and Tigray Resources Ltd., among others. Ms. Ross holds a Bachelor of Commerce degree from the
University of Alberta.
Luquman Shaheen, the Company's President and CEO, states, “Shannon’s experience, background and familiarity with
Panoro's accounting and reporting systems and operations will ensure continued smooth operations and we are delighted that Shannon
has accepted this position.”
Ms. Ross replaces the interim CFO, William J. Boden, who is also the Chairman of the Company. The Company
thanks Mr. Boden for having acted as Interim CFO since November, 2015.
About Panoro
Panoro is advancing its unique portfolio of copper and gold projects in the key Andahuaylas-Yauri belt in south
central Peru, including its advanced stage Cotabambas Copper-Gold-Silver-Molybdenum and Antilla Copper-Molybdenum Projects.
Since 2007, the company has completed over 70,000 m of exploration drilling at these two key projects leading to
the delineation of mineral resources of:
| Cotabambas |
|
Indicated Resource 117.1 Mt @ 0.42% Cu, 0.23g/t Au, 2.74 g/t Ag &
0.001%Mo (@0.2% Cueq cutoff) |
|
| Cu/Au/AG |
|
Inferred Resource 603.5 Mt @ 0.31% Cu, 0.17g/t Au, 2.33 g/t Ag and
0.002 %Mo (@0.2% Cueq cutoff) |
|
| Project: |
|
(Tetra Tech, with an effective date of October 2013) |
|
| |
|
|
|
| Antilla: |
|
Indicated Resource 188.5 Mt @ 0.40% Cu and 0.009% Mo (@0.2%
Cueq cutoff) |
|
| Cu/Mo |
|
Inferred Resource 145.9 Mt @ 0.28% Cu and 0.009%Mo (@0.2%
Cueq cutoff) |
|
| Project |
|
(Tetra Tech, with an effective date of December 2013) |
|
| |
|
|
|
| |
|
Indicated Resource 291.8 Mt @ 0.34% Cu and 0.009% Mo (@0.175%
Cueq cutoff) |
|
| |
|
Inferred Resource 90.5 Mt @ 0.26% Cu and 0.007%Mo (@0.175%
Cueq cutoff) |
|
| |
|
(*Tetra Tech, with an effective date of October 2015) |
|
| |
|
Note: *This material was not previously disclosed as it was not
considered material for the project. |
| |
|
|
Exploration at the Cotabambas Project has focused on the Ccalla and Azulccaca deposits. However, at least
eight other porphyry and skarn target zones have been identified within the company’s Cotabambas mineral concession blocks.
Additional exploration including drilling at these targets is planned.
Additional resource growth potential at the Antilla Project has been identified and additional exploration will
be included in the advancement of the project.
In addition to the Cotabambas and Antilla Projects, Panoro’s portfolio includes a number of earlier stage
projects in primarily the same region of south central Peru. Peru’s national objective of doubling copper production together with
the development of the many copper projects in the region, together with the private and public investments into rail, road, power
generation and transmission and port infrastructure are leading to the rapid growth of an important global center for copper
production. Panoro’s large portfolio is situated here along with the Las Bambas, Tintaya, Antapaccay, Haquira, Constancia, Las
Chancas and Trapiche projects all of which are either in exploration stage, construction or already in production.
Luis Vela, a P. Geo 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 A. Shaheen, M.B.A., PEng, P.E.
President & CEO
This release was prepared by management of the Company who takes full responsibility for its contents.
Neither 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.
FOR FURTHER INFORMATION, CONTACT: Panoro Minerals Ltd. Luquman A. Shaheen, President & CEO Phone: 604.684.4246 Fax: 604.684.4200 Email: info@panoro.com Web: www.panoro.com
