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Peru
Cotabambas Project

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 Location:
47 km SW from Cusco, Peru

  Project Contacts:
Av. Pardo y Aliaga 699, Oficina 901B San Isidro
Lima
Peru
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life17 years (as of Jan 1, 2015)
In the first quarter of 2022 Panoro commenced work to support the prefeasibility study for the Cotabambas Project. The work began with step-out and infill drilling programs which also included technical and environmental studies. The work programs will continue to the end of 2022 with additional drilling contemplated in 2023. Additionally in 2022, technical studies including an update to geologic modelling, geo-metallurgical modelling, metallurgical testing, geotechnical and hydrogeological studies have begun.

In addition to the pre-feasibility drilling program Panoro is scoping the engineering, environmental and social studies to support the pre-feasibility work program. Metallurgical, tailings trade off, and open pit geotechnical studies planned for completion in 2022 in support of the pre-feasibility study planned for completion in 2023.
Latest NewsPanoro Minerals Intersects 221.5 m at 1.13% Cueq, Cotabambas Project, Peru     January 3, 2023


Owners

Source: p. 55
CompanyInterestOwnership
Panoro Minerals Ltd. 100 % Indirect
Panoro Apurimac S.A. 100 % Direct
The Cotabambas Property mining and exploration concessions are 100% held by Panoro through its indirectly wholly-owned Peruvian subsidiary Panoro Apurimac S.A.

Contractors

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Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The Ccalla and Azulccacca zones of the Cotabambas deposit are considered to be examples of porphyry copper deposits. The two host porphyries cover an area about 2.5 km long and 1.5 km wide.

Mineralization occurs in hypogene, supergene enrichment and oxide zones. A welldeveloped leached cap hosts the oxide mineralization. Sulphide mineralization occurs below the base of the leached cap. This zonation is considered to be typical of porphyrystyle copper and porphyry-style copper–gold deposits.

Hypogene mineralization in the Project area has been intersected at depths from approximately 20 m from surface to depths of over 500 m from surface.

Hypogene copper–gold–silver mineralization is best developed with pyrite mineralization in quartz–sericite-altered quartz monzonite porphyry dykes running parallel to the north north-east trending structural corridors at Ccalla and Azulccacca. Mineralization occurs as disseminated chalcopyrite and pyrite, pyrite-chalcopyrite stringers or veinlets and quartz chalcopyrite pyrite veinlets. Local patches of hypogene mineralization are developed in diorite, peripheral to the quartz monzonite porphyry, where the north–northeast-trending structural system passes within 10 to 20 m of the diorite–porphyry contact. Chalcopyrite mineralization intensity decreases and disseminated pyrite mineralization increases distal to the higher grade parts of the hypogene zone.

Sulphide mineralization consists of chalcop ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

A PEA open pit mine plan is developed for the Cotabambas project.

The PEA mine plan is based on a subset of the Mineral Resources. No mining dilution was incorporated in the plan. The assumed mill feed throughput is 80,000 t/d (29.3 Mt/a)

Two open pits will be mined, in seven pit phases, utilizing 12 m high benches. Cotabambas has a projected life of mine of 18 years, considering one year of prestripping and 17 years of feed to the plant.

A WRF with a maximum capacity of 369 Mm3 will be located in Guaclle Creek. Waste will be transported by truck

The operating fleet will consist of a conventional diesel fleet. Equipment requirements were estimated using first principle calculations

Haulage requirements are based on measured annual haulage profiles from the two pits. The average haulage distance for mineralized material to the primary crusher is 3.3 km. The average haulage distance for waste by trucks is between 3 and 4 km.

The mine plan assume that Cotabambas will operate seven days a week, twentyfour hours per day with four crews rotating to fill the mine roster of 12 hours per shift.

Mine infrastructure includes shops, warehouse, washing and welding bays, fuel stations, explosives magazine and administrative offices.

Main consumables for mine operations include diesel fuel, ANFO, emulsion and tires.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 2,638
Gold Payable metal M oz  ......  Subscription required
Silver Payable metal M oz  ......  Subscription required
Copper Concentrate kt 270

Operational Metrics:

Metrics
Stripping / waste ratio 1.25 *
Daily ore mining rate 80,000 t *
Annual mining capacity 116 Mt *
Waste tonnes, LOM 604.19 Mt *
Ore tonnes mined, LOM 483.08 Mt *
Total tonnes mined, LOM 1,161 Mt *
Plant annual capacity 29.2 Mt *
Daily processing capacity 80,000 t *
Tonnes processed, LOM 483.07 Mt *
Annual ore mining rate 29.3 Mt *
* According to 2015 study.

Reserves at December 31, 2015:
Cut-off Grade 0.2% CuEq.

CategoryTonnage CommodityGrade
Indicated 117.1 Mt Copper 0.42 %
Indicated 117.1 Mt Gold 0.23 g/t
Indicated 117.1 Mt Silver 2.74 g/t
Indicated 117.1 Mt Molybdenum 0.0013 %
Inferred 603.5 Mt Copper 0.31 %
Inferred 603.5 Mt Gold 0.18 g/t
Inferred 603.5 Mt Silver 2.33 g/t
Inferred 603.5 Mt Molybdenum 0.0019 %

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Copper USD -0.94 / lb *  
C1 cash costs Copper USD 2.16 / lb *  
C1 cash costs Copper USD 1.22 / lb *†  
C2 total cash costs Copper USD 1.94 / lb *†  
Assumed price Molybdenum USD 12.5 / lb *  
Assumed price Copper USD 3.2 / lb *  
Assumed price Silver USD 23 / oz *  
Assumed price Gold USD 1,350 / oz *  
* According to 2015 study / presentation.
† Net of By-Product.

Operating Costs:

Units2015
OP mining costs ($/t mined) USD 1.59 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
* According to 2015 study.
Subscription required - Subscription is required.

2015 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 2,116
G&A costs $M USD 196.7
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 7.5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7.5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of September 22, 2015:
HME TypeModelSizeQuantity
Crane ....................... Subscription required 250 t ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 22, 2015
....................... Subscription required ....................... Subscription required Subscription required Dec 26, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Fact Sheet 2022
Management Discussion & Analysis 2022
Preliminary Economic Assessment 2015
Subscription required - Subscription is required.

News:

NewsDate
Panoro Minerals Intersects 221.5 m at 1.13% Cueq, Cotabambas Project, Peru January 3, 2023

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