Now that Peru has approved Panoro Minerals’ (TSXV: PML; US-OTC: POROF) request for an expanded environmental impact assessment at its Cotabambas copper project in southern Peru’s Apurimac region, the company can start drilling Cluster 2 — a target it’s spent two years mapping, sampling and examining through geophysics.
“Late last year we decided we should start the process for expanding the environmental impact assessment,” Panoro president and CEO Luquman Shaheen says in an interview with The Northern Miner. “We started to come to the conclusion that the prospective nature of what we were uncovering warranted some drilling.”
The company plans to drill 2,000 metres at Cluster 2 by the end of the year, spending between $1-2 million. It still needs to complete some more geophysical work before it begins, and says it will evaluate how to proceed next year based on the results of this year’s program. The company is fully-funded to complete the work.
That isn’t the only exploration it’s doing at Cotabambas, however. The company recently delineated 16 anomalies within three zones of mineralization through its mapping and sampling program at the project’s Chaupec target.
Continue reading at The Northern Miner.