The Peru Mines and Energy Ministry has approved a second modification of the semi-detailed environmental-impact assessment for the Cotabambas project, allowing TSX-V-listed Ponoro Minerals to extend its exploration drilling programme into highly prospective areas of Cluster 2.
Cluster 2 has been the subject of extensive recent mapping, sampling and geophysical survey studies by Panoro.
“These studies have identified the occurrence of skarn copper/gold/silver mineralisation over extensive areas. Panoro’s exploration plans for Cluster 2 will target the addition of high-grade near surface skarn mineralisation to the current mine plan to further enhance the economics of the project. The scale of the resource potential in Cluster 2 may be significant with the potential to increase the scale of the project identified in the current preliminary economic assessment,” explained CEO Luquman Shaheen in a statement.
The second modification expands the approved area for exploration from 1 401 ha to 2 923 ha. The original approved area permitted 311 drilling platforms in the area of the Ccalla, Azulccaca, Guaclle, Petra-David and María José targets in Cluster 1.
The expanded area is located to the west of the original area and permits an additional 295 drilling platforms.
The first phase of the 2018 drilling campaign was completed in Cluster 1 in April, with a total of 2 172 m of drilling.