Panoro Minerals Begins 3D Geophysical Survey at Chaupec Target of Cotabambas Copper Project

Panoro Minerals Ltd. (“Panoro”, the “Company”) is pleased to announce the commencement of detailed 3D Geophysical survey at Zone 1 of the Chaupec Target.  The objective of the survey is to finalize drill targets for the proposed exploration program.  The Chaupec Target contains Skarn and Porphyry type mineralization located within Cluster 2 at the 100% owned Cotabambas Copper Project.

The survey will be completed at the northern area of Zone 1, where Sills of quartz monzonite composition intrude wide altered bodies of limestones and skarn composed by piroxenes, garnets, magnetite, chlorite and epidot. The associated mineralization is composed of copper oxides, chalcopyrite, chalcocite, and bornite sulphides outcropping at surface. The package of sills/skarn is exposed along an area of approximately 450 m by 600 m along the contact of the Diorite over thrusting the limestones of the Ferrobamba formation.  Details of the Chaupec Target can been found on Panoro press release of August 28^th, 2018.

The survey grid is shown on the attached map together with the surficial geology.  The Geophysics field work will include IP, Magnetometry and gravity, as summarized below:

• 3D Ground Magnetometry including 20 lines of 1 km length each, at 25 m spacing.
   
  • Previous Ground Magnetometry was completed in the area at spacing of between 100 m and 200 m with readings each 10 m to 20 m.  These surveys served to infer limits of the main packages of limestones, diorite and sills/skarn. The current survey will include continuous readings along the lines and will be concentered on the sill/skarn package.
     
• IP-3D including 10 lines of 1 km length, spacing of 50 m between lines and with stations of 25, 50, 75 & 100 meters multi-dipole.
   
  • Previous IP surveys in the area were completed with 100 m spacing and readings each 50 m. The survey will permit identification of charged and resistive bodies with a resolution of 25 m and to approximately 300 m depth.
     
• Gravity survey, including 110 points distributed over the same grid as for the Magetometry and IP.

The goal of the survey is to identify structural controls, directions and thicknesses of the Skarn bodies which reported high copper, silver and gold anomalies on the surface rock sampling. The survey will be complemented with additional detailed mapping to finalize the location, orientation and depth of proposed drill holes of the exploration program.