Panoro Acquires Additional Mineral Concessions at El Rosal Project, Peru
VANCOUVER, BRITISH COLUMBIA and LIMA, PERU–(Marketwire – June 25, 2008) – Panoro Minerals Ltd. (the “Company”) (TSX VENTURE:PML)(BVL:PML)(FRANKFURT:PZM)(WKN:914959) announces that it has acquired three additional mineral concessions at its El Rosal Project in Northern Peru. The three concessions are located to the east side of the existing nine concessions held by the company. With the acquisition of these concessions the total land package held by the company at El Rosal increases by 2,500 hectares to 8,200 hectares.
On June 11, 2008, the company announced the intersection of numerous mineralized intervals in borehole RA08B-08, the best of which consisted of an 8.47 metre drill intersection grading 5.31% zinc and 111.6 g/t silver. Mineralization is thought to be of carbonate replacement style, similar to other significant base metal mining districts in Peru.
In addition to the zinc and silver mineralization, the style of alteration and mineralization encountered in holes RA07A-08 and RA07B-08, characterized by the presence of stockworks of quartz veinlets in quartz-sericite-pyrite altered diorite with minor chalcopyrite mineralization, indicates the presence of the targeted porphyry copper system.
Fred Tejada, P.Geo., the Company’s VP-Exploration and the Qualified Person for this project, is preparing a report that will include recommendations for the next phase of exploration in the La Papaya area to better define the extent of the porphyry copper system as well as the zinc-silver mineralization.
At the Company’s Antilla project in Southern Peru, drilling is advancing well with three drill rigs in operation. As of June 19, 2008, 12 boreholes had been completed for a total of 2,038 m in the East Block. The current exploration program at Antilla incorporates 37 boreholes in the east Block with an additional 10 boreholes in the West Block and Central Block. The Antilla project, 7,400 hectares, is in an advanced exploration stage with a geologic potential in the range of 135 million tonnes, at grades ranging from 0.61% to 0.75% copper.
The reader is cautioned that the potential quantity and grade of Exploration Targets as described in this release is conceptual in nature, that there has been insufficient exploration to date to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
On behalf of the Board of Panoro Minerals Ltd.,
Luquman Shaheen, M.B.A., P.Eng., P.E., President, CEO and Director
Panoro Minerals Ltd. is a Canadian mineral exploration company trading on the TSX Venture Exchange (PML) and on the Frankfurt Stock Exchange (PZM, WKN 914959) and on the Junior Board of the Lima Exchange. Panoro’s strategic focus is on exploring for large- potential gold and copper/gold deposits in countries with the corresponding geological potential and where the right political and economic conditions are present. For investor inquiries please call 604-684-4246, e-mail firstname.lastname@example.org or visit the company’s website at www.panoro.com.
This release was prepared by management of the Company who takes full responsibility for its contents.
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