Northwire Canada EditionTuesday, November 3, 2026
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Gold 3,969.60 +1.8% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 96.46 −7.4% Palladium 962.50 −2.5% QRO 0.030 +0.0% PGC 0.030 +0.0% SASK 0.840 −2.3% GIGA 0.050 +0.0% WDO 26.12 +2.2% ERO 40.76 +0.2% BIRD 0.160 −13.5% ODV 3.20 −1.8% FVI 12.72 +3.1% SRI 0.015 + BTR 0.125 +4.2% NVO 0.065 +8.3% BTT 0.110 +4.8% MUX 19.55 +0.8% SCD 0.150 +0.0% PPX 0.220 +0.0% Gold 3,969.60 +1.8% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 96.46 −7.4% Palladium 962.50 −2.5% QRO 0.030 +0.0% PGC 0.030 +0.0% SASK 0.840 −2.3% GIGA 0.050 +0.0% WDO 26.12 +2.2% ERO 40.76 +0.2% BIRD 0.160 −13.5% ODV 3.20 −1.8% FVI 12.72 +3.1% SRI 0.015 + BTR 0.125 +4.2% NVO 0.065 +8.3% BTT 0.110 +4.8% MUX 19.55 +0.8% SCD 0.150 +0.0% PPX 0.220 +0.0%
Drill Results Routine +

Panoro Minerals Intersects 317.6 m of 1.04% CuEq at Cotabambas Project, Peru

Panoro’s Cotabambas drill results validate a high-grade corridor, fueling a planned 45,000m expansion program.

By The Northwire Desk — AI Analysis Jun 08, 2026 · 16:07 PML · 1.2 Panoro Minerals Ltd.
Executive Summary
  • Panoro Minerals announced high-grade drill results from hole CB-228 at the South Pit of its Cotabambas Project, intersecting 317.6 m at 1.04% CuEq, including 162.0 m at 1.54% CuEq.
  • Mineralization extends continuously from surface to over 850 m depth, extending 350 m down dip and widening with depth, indicating significant resource expansion potential and a potential near-surface porphyry source.
  • The company is expanding its 2026 drill program from 15,000 m to 45,000 m, backed by a recently closed C$21 million equity financing, with additional drill rigs and a deep geophysics program to follow.
  • High-grade intervals include 85.9 m at 1.36% CuEq and 66.1 m at 1.92% CuEq.
  • Geophysics program (TITAN MT/IP) will target dike contacts with Ferrobamba limestone and potential porphyry/skarn mineralization.
  • Current Indicated resources total 507.3 Mt @ 0.33% Cu, 0.20 g/t Au, 2.42 g/t Ag, 0.0021% Mo. Inferred resources total 496.0 Mt @ 0.27% Cu, 0.17 g/t Au, 2.53 g/t Ag, 0.0027% Mo.
  • CuEq calculated using Cu=$5.00/lb, Au=$4,000/oz, Ag=$60/oz.
Material Impact
  • The results validate management's thesis that high-grade mineralization continues at depth and widens, supporting the potential for a near-surface porphyry source.
  • This is an expected, incremental update following the March 2026 announcement of the 15,000 m drill program and the May 2026 financing.
  • While the intercept is geologically significant and de-risks the high-grade corridor, it does not yet alter the project's development timeline, economics, or resource classification materially.
  • The expansion of the drill program to 45,000 m is fully funded and aligns with previously communicated strategic objectives.
  • The news is positive and confirms exploration progress but lacks the unexpected, market-moving catalyst required for a Material - Positive rating.
PML · Price
Company Overview
  • Cotabambas Project is a fully permitted, advanced copper-gold-silver project in southern Peru, part of the Southern Peru Copper Cluster.
  • Total mineral resource: 1.0 billion tonnes containing 12.5 billion pounds CuEq and 15.1 million ounces AuEq.
  • High-grade component: 222 Mt @ 1.2% CuEq, characterized by a low strip ratio (~0.65:1 to 1.3:1) and simple metallurgy.
  • Environmental permits extended until October 2030, authorizing 299 new platforms.
  • Strategy focuses on a capital-efficient, high-grade starter pit (20-30 ktpd) with a targeted capital cost of $500-$700 million.
  • 100% control of the property with strong regional infrastructure access.
Read the original news release →

More from Panoro Minerals Ltd.

Oct 27, 2026 · 16:07

Panoro reports surface skarn grading 14.9% copper at Target #7, with no drilling completed to date.

Drill Results Oct 05, 2026 · 16:01

Panoro secures community access for North Pit drilling ahead of a 2027 PEA and PFS timeline for the project.

Production / Operations Sep 06, 2026 · 17:01

Panoro’s step-outs widen the bulk porphyry zone but dilute high-grade tenor compared to the CB-228 anchor intercept.

Drill Results Aug 05, 2026 · 09:05

Panoro secures a $2 million net smelter return payment to bolster liquidity for drilling at its Cotabambas project.

Financings Jul 27, 2026 · 07:01

Panoro is ramping Cotabambas drilling to five rigs to test deep skarn and porphyry growth potential.

Drill Results Jun 22, 2026 · 16:01

Panoro secured $5.2m for Antilla to fund 45,000m of drilling at Cotabambas as a TABB NSR option approaches.

Financings