Panoro Minerals Ltd. has intersected high-grade copper-gold mineralization from surface down to 1,100 metres in depth at the South Pit of its Cotabambas Project in Peru, following assay results from drillholes CB-229 and CB-230.

The step-out drilling program confirms that mineralization extends across 600 metres of strike. Drillhole CB-229 returned 303.30 metres grading 0.14% copper, 0.13 g/t gold, and 1.30 g/t silver from 349.90 metres downhole, including a 69.90-metre interval averaging 0.27% copper, 0.32 g/t gold, and 1.83 g/t silver.

Drillhole CB-230 tested vertical continuity and intersected 808.15 metres grading 0.22% copper, 0.10 g/t gold, and 1.53 g/t silver from 296.35 metres downhole. This intercept included a 240.15-metre interval grading 0.32% copper, 0.18 g/t gold, and 2.55 g/t silver, alongside a 48.10-metre higher-grade section averaging 0.57% copper, 0.25 g/t gold, and 4.08 g/t silver.

Additionally, drillhole CB-230 intersected endoskarn mineralization over nearly 34 metres, grading 0.27% copper, 0.07 g/t gold, and 0.99 g/t silver. Panoro noted this indicates potential for larger massive skarn mineralization adjacent to the intrusion.

“To our surprise, it is becoming clear that the contribution of the South Pit to the total Cotabambas resource, and its high-grade component, is set to grow significantly. The results from CB-229 and CB-230, plus from CB-228 previously, highlight the continuity from surface to over 1100 m depth and along 600 m of strike. The objective of the step-out program is to find the limits of the high-grade at the South Pit, which currently contains only 70 million tonnes of the high-grade component of Cotabambas' resource. These drillholes have not found the limits of the mineralization.” — Luquman Shaheen, President & CEO

The company holds 100% ownership of the Cotabambas Project in southern Peru. The current work forms part of Panoro’s 2026 exploration program, comprising 15,000 metres of diamond drilling to advance its High-Grade Strategy targeting a capital-efficient, short-payback development scenario.

Previous drilling, such as hole CB-198 in August 2022, delineated high-grade continuity to depths of 350 to 500 metres. Results from drillhole CB-230 extend that known vertical profile to 1,100 metres depth.

Panoro has commenced a new series of drillholes—CB-231, CB-232, and CB-233—to test mineralization limits 200 metres to the north and 200 metres below previous intercepts. The company has also scheduled a TITAN deep geophysics survey at Cotabambas for October 2026.

Read the full announcement: South Pit Drilling Continues to Intersect High-Grade Mineralization, Cotabambas Project, Peru