Panoro Minerals Grows Resource, Adds High Grade, Reduces Waste:Ore Ratio and Increases Precious Metals at the Cotabambas Copper Project, Peru

2024-01-15

TSXV - TSX Venture Exchange · Copper · Gold · Silver · Molybdenum · Canada

Canada NewsWire

VANCOUVER, BC , Jan. 15 , 2024 /CNW/ - Panoro Minerals Ltd. (TSXV: PML) (Lima: PML) (Frankfurt: PZM) ("Panoro", the "Company") Panoro is pleased to announce that it has received the mineral resource estimate for its 100% owned Cotabambas porphyry copper-gold-silver Project located in southern Peru from AGP Mining Consultants, based in Toronto , Canada. The updated mineral resources at a 0.15%CuEq cut-off grade include:

[](https://mma.prnewswire.com/media/2317923/Panoro_Minerals_LtdPanoro_Minerals_Grows_ResourceAdds_High_G.html)

An Indicated mineral resource of 507.3 million tonnes at 0.34%Cu, 0.20 g/t Au, 2.42 g/t Ag and 0.0021%Mo, and 0.43%CuEq grade. An Inferred mineral resource of 496.0 million tonnes at 0.27% Cu, 0.17 g/t Au, 2.53 g/t Ag and 0.0027%Mo, and 0.36%CuEq grade. A higher grade component within the optimized pit constraint, demonstrating the potential for a high grade starter pit for the project start up.

Highlights

A Higher Grade Component of Indicated resource delineated: 129.0 million tonnes at 0.70% Cu, 0.44 g/t Au, 4.12 g/t Ag and 0.0014%Mo, and 0.91% CuEq grade, at a cut-off of 0.5% CuEq; The higher grade component is present within the optimized pit constraint. Tables 5 and 6 show the Mineral Resources at a 0.5% CuEq cut-off grade.

Indicated mineral resources has increased by 333% Increased from 117.1 million tonnes to 507.4 million tonnes; and constitutes 51% of total resources

Inferred mineral resources has reduced by 18% Decreased from 605.3 million tonnes to 496.0 million tonnes; and constitutes 49% of total resources

Contained Metals have increased: 6.7 billion pounds Copper, 29% increase; 6.0 million ounces Gold, 43% increase; 79.8 million ounces Silver, 43% increase; and 53.7 million pounds Molybdenum, 85% increase

Waste:Mineral ratio reduced from 2:1 to 0.65:1 for the Base Case

Resource remains open to northeast and southwest and at depth Multiple new exploration targets identified into the Cotabambas property. Strong Community relations demonstrated over more than a decade. Current environmental permit allows an additional 450 drilling platforms.

Luquman Shaheen, President & CEO, states, "The Cotabambas Project resource has achieved many important milestones. The South Pit now has the potential to be a high grade starter pit for the project. The high grade component of the resource, at 0.91% Cueq, is included in the South Pit. Most of the added high grade at the South Pit is located outside the open pit modelled in the 2015 PEA. An updated PEA will incorporate the additional high grade resource into the mine plan. The updated PEA will also incorporate a number of the already completed trade-off studies and serve as a snap-shot of the prefeasibility study. The high grade in the South Pit is open to the southwest and to the northeast in the area between the North and South Pit. The potential to further expand the high grade along strike and at depth looks very promising. In addition, the South Pit resource has a higher component of precious metals, both Gold and Silver. The Gold resource of 6.0 million ounces is already significant. A significant reduction in the waste:ore ratio will also have a meaningful impact on the project economics. Now with over 500 million tonnes at indicated category, the project is ready for the prefeasibility study to incorporate the new resource and completed trade-off studies which will first be incorporated into an update on the Preliminary Economic Assessment. The Cotabambas Project has more total, indicated and high-grade resource, lower waste:ore ratio and expanded exploration potential for high grade. The precious metals' grades have the potential to grow with added resource from the South Pit potential. The current achievements in the project resources, together with planned improvements to the metallurgical recoveries, infrastructure and increased commodity prices have the potential to significantly enhance the projects economics. We look forward to continuing to advance the Cotabambas Project."

Mineral Resource Estimate

AGP Mining Consulting discloses a new resource estimate for the Cotabambas copper and gold deposit, prepared in accordance with the CIM Best Practices and disclosed in accordance with NI 43-101. The mineral resource estimate utilized all drill and assay results available to June 23, 2023 , including 73,938 meters of drilling by Panoro distributed in 148 drillholes and 9,923 meters of drilling from legacy campaigns distributed in 27 drillholes. The mineral resource estimate includes hypogene and supergene sulphides and mixed/oxide copper-gold and oxide gold mineralization contained within a single conceptual pit shell that has been modelled to include that portion of the mineral resource block model having a reasonable prospect for economic extraction.

The wireframes for the Cotabambas deposit were developed based on mineralization to constrain the interpreted mineralized domains. Latite dikes were clipped from the principal mineralized domains and separated into latite oxide and latite sulfide domains.

The mineral resource estimate in the Indicated and Inferred Categories are summarized in Tables 1 and 2 below. See links to following Figures for illustration:

Plan 1 - North Pit, South Pit and Expansion Targets' Plan Section 1a - North Pit Lithology Section 1b - North Pit Block Model Section 2a - South Pit Lithology Section 2b - South Pit Block Model

Mineral Resource Statement

The Mineral Resources for the Cotabambas deposit are reported by copper equivalent cut-off grade of 0.15 %CuEq within an optimized pit constraint. The effective date of the Mineral Resources is 20 November 2023 .

The principal metals grades were estimated by the ordinary kriging interpolation method on capped composite copper, gold, silver and molybdenum grades. No recoveries have been applied to the interpolated in-situ estimated grades.

Tables 1 and 2 present the mineral resources by domain for Indicated and Inferred mineral resources, respectively, within the optimized pit constraint.

Table 1: Mineral Resource in Indicated Category Classified by Mineralization Type

| Zone | Cut-Off Grade % CuEq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | Leach | 0.15 | 17.0 | 0.19 | 0.22 | 1.80 | 0.0017 | 0.28 | 71 | 0.12 | 0.98 | 0.64 | | Oxide Cu* | 0.15 | 24.7 | 0.31 | 0.22 | 2.26 | 0.0014 | 0.41 | 169 | 0.17 | 1.79 | 0.76 | | Oxide Cu-Au* | 0.15 | 17.3 | 0.43 | 0.15 | 1.79 | 0.0015 | 0.50 | 164 | 0.08 | 1.00 | 0.57 | | Mixed | 0.15 | 32.3 | 0.46 | 0.22 | 2.29 | 0.0014 | 0.58 | 330 | 0.23 | 2.38 | 1.00 | | Supergene | 0.15 | 3.6 | 1.36 | 0.34 | 3.51 | 0.0015 | 1.53 | 109 | 0.04 | 0.41 | 0.12 | | Hypogene | 0.15 | 412.5 | 0.32 | 0.20 | 2.48 | 0.0023 | 0.42 | 2,910 | 2.65 | 32.89 | 20.92 | | Total | 0.15 | 507.3 | 0.33 | 0.20 | 2.42 | 0.0021 | 0.43 | 3,753 | 3.29 | 39.45 | 24.02 |

| _Note: Base case in bold. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Summation errors may occur due to rounding. Open pit mineral resources are reported within optimized constraining shell. Reported open pit cut-off grade is 0.15%CuEq. Breakeven open pit cut-off grade is 0.07% CuEq. Mineral Resources have an effective date of November 20, 2023. The Qualified Person responsible for this resource statement is Paul Daigle, P.Geo. (APGO, 1592). . Copper equivalent ( CuEq ) is calculated using the equations: Oxide: CuEq = Cu + 0.4126*Au + 0.0038*Ag + 0.000*Mo; Mixed: CuEq = Cu + 0.5819*Au + 0.0063*Ag + 0.0003*Mo; Supergene: CuEq = Cu + 0.4498*Au + 0.0054*Ag + 0.0002*Mo; and Hypogene: CuEq = Cu + 0.4373*Au+0.0053*Ag+0.0002*Mo, based on the differentials of long range metal prices net of selling costs and metallurgical recoveries for gold and copper and silver. Metal prices for the CuEq formulas are: US$ 4.25/lb Cu, US$ 1,850 /Oz Au; US$ 23.00 /Oz Ag; and US$ 20.00 /lb Mo. Metal recoveries for the CuEq formulas are for Oxide: 0.0% Cu, 65% Au, 48% Ag, and 0.0% Mo; for Mixed: 60% Cu, 55% Au, 48% Ag, 40% Mo; for Supergene: 87.5% Cu, 62% Au, 60.4% Ag, 40% Mo; and for Hypogene: 90% Cu, 62% Au, 60.4% Ag and 40% Mo. Capping of grades varied between 0.50 %Cu and 3.7%Cu, 0.33 g/t Au and 2.3 g/t Au, and between 0.029%Mo and 0.060%Mo; on 6m composites by domain. The density varies between 2.20 g/cm3 and 2.66 g/cm3. Mineralization would be mined from open pit and treated using conventional flotation. Rounding in accordance with reporting guidelines may result in summation differences. Oxide Cu - amenable to leaching; Oxide Cu-Au amenable to blending with sulphides (Au >0.25 g/t). | | |

Table 2: Mineral Resource in Inferred Category Classified by Mineralization Type

| Zone | Cut-Off Grade % Cu eq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | Leach | 0.15 | 5.1 | 0.15 | 0.10 | 1.72 | 0.0016 | 0.19 | 17 | 0.02 | 0.28 | 0.18 | | Oxide Cu* | 0.15 | 12.6 | 0.24 | 0.12 | 1.82 | 0.0015 | 0.30 | 67 | 0.05 | 0.74 | 0.42 | | Oxide Cu-Au* | 0.15 | 8.7 | 0.37 | 0.10 | 1.59 | 0.0018 | 0.42 | 71 | 0.03 | 0.44 | 0.34 | | Mixed | 0.15 | 7.1 | 0.18 | 0.15 | 4.57 | 0.0013 | 0.29 | 29 | 0.04 | 1.04 | 0.20 | | Supergene | 0.15 | 1.90 | 0.82 | 0.46 | 3.95 | 0.0018 | 1.05 | 35 | 0.03 | 0.24 | 0.08 | | Hypogene | 0.15 | 460.6 | 0.27 | 0.17 | 2.54 | 0.0028 | 0.36 | 2,742 | 2.52 | 37.61 | 28.43 | | Total | 0.15 | 496.0 | 0.27 | 0.17 | 2.53 | 0.0027 | 0.36 | 2,961 | 2.69 | 40.86 | 29.49 |

| _Note: Base case in bold. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Summation errors may occur due to rounding. Open pit mineral resources are reported within optimized constraining shell. Reported open pit cut-off grade is 0.15%CuEq. Breakeven Open pit cut-off grade is 0.07% CuEq. Mineral Resources have an effective date of November 20, 2023. The Qualified Person responsible for this resource statement is Paul Daigle, P.Geo. (APGO, 1592). Copper equivalent ( CuEq ) is calculated using the equations: Oxide: CuEq = Cu + 0.4126*Au + 0.0038*Ag + 0.000*Mo; Mixed: CuEq = Cu + 0.5819*Au + 0.0063*Ag + 0.0003*Mo; Supergene: CuEq = Cu + 0.4498*Au + 0.0054*Ag + 0.0002*Mo; and Hypogene: CuEq = Cu + 0.4373*Au+0.0053*Ag+0.0002*Mo, based on the differentials of long range metal prices net of selling costs and metallurgical recoveries for gold and copper and silver. Metal prices for the CuEq formulas are: US$ 4.25/lb Cu, US$ 1,850 /Oz Au; US$ 23.00 /Oz Ag; and US$ 20.00 /lb Mo. Metal recoveries for the CuEq formulas are for Oxide: 0.0% Cu, 65% Au, 48% Ag, and 0.0% Mo; for Mixed: 60% Cu, 55% Au, 48% Ag, 40% Mo; for Supergene: 87.5% Cu, 62% Au, 60.4% Ag, 40% Mo; and for Hypogene: 90% Cu, 62% Au, 60.4% Ag and 40% Mo. Capping of grades varied between 0.50 %Cu and 3.7%Cu, 0.33 g/t Au and 2.3 g/t Au, and between 0.029%Mo and 0.060%Mo; on 6m composites by domain. The density varies between 2.20 g/cm3 and 2.66 g/cm3. Mineralization would be mined from open pit and treated using conventional flotation. Rounding in accordance with reporting guidelines may result in summation differences. Oxide Cu - amenable to leaching; Oxide Cu-Au amenable to blending with sulphides (Au >0.25 g/t). | | |

Grade Sensitivity

The Mineral Resources of the Project are also reported to demonstrate the sensitivity to various copper equivalent cut-off grades within the optimized pit constraint. The domains have not been separated and the following is for comparison only.

The mineral resources estimation was constrained by a Break-even pit with a cut-off grade of 0.07%CuEq with a stripping ratio (waste: resources) of 1.02:1; however, the Base Case open pit is reported at a cut-off grade of 0.15%CuEq with a stripping ratio (waste: resources) of 0.65:1. This represents a significant improvement compared with the previous resources estimation where the stripping ratio was 2:1 (waste: resources).

Tables 3 and 4 present the mineral resources within the optimized pit constraint for Indicated and Inferred Mineral Resources, respectively.

Table 3: Sensitivity of Indicated Mineral Resource to Cut-off Grade

| Cut-Off Grade % Cu eq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | 0.07 | 648.3 | 0.28 | 0.16 | 2.18 | 0.0021 | 0.36 | 4,023 | 3.39 | 45.37 | 29.42 | | 0.10 | 579.5 | 0.30 | 0.18 | 2.29 | 0.0022 | 0.39 | 3,882 | 3.41 | 42.62 | 27.47 | | 0.15 | 507.3 | 0.34 | 0.20 | 2.42 | 0.0021 | 0.43 | 3,753 | 3.29 | 39.45 | 24.02 | | 0.20 | 417.7 | 0.38 | 0.23 | 2.61 | 0.0020 | 0.49 | 3,468 | 3.09 | 35.00 | 18.13 | | 0.30 | 254.0 | 0.49 | 0.32 | 3.14 | 0.0017 | 0.65 | 2,745 | 2.60 | 25.62 | 9.50 | | 0.40 | 166.9 | 0.61 | 0.39 | 3.72 | 0.0014 | 0.81 | 2,250 | 2.10 | 19.97 | 5.15 | | 0.50 | 129.0 | 0.70 | 0.44 | 4.12 | 0.0014 | 0.91 | 1,985 | 1.83 | 17.09 | 3.96 |

| Note: Base case in bold. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Summation errors may occur due to rounding. | | |

The previous mineral resources (Tetra Tech, 2014) contained 46.3 Million tonnes averaging 0.70%Cu, 0.38 Au g/t, 3.82 Ag g/t and 0.0002%Mo at 0.50%CuEq cut-off. At similar grades, the new resource demonstrates a 296% increase in high-grade resource, including higher gold and silver grades, reflecting the high precious metals content in the South pit.

Table 4: Sensitivity of Inferred Mineral Resource to Cut-off Grade

| Cut-Off Grade % Cu eq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | 0.07 | 1,101.2 | 0.16 | 0.10 | 1.87 | 0.0023 | 0.22 | 3,841 | 3.45 | 66.10 | 55.87 | | 0.10 | 760.4 | 0.21 | 0.13 | 2.13 | 0.0026 | 0.28 | 3,492 | 3.12 | 52.15 | 43.54 | | 0.15 | 496.0 | 0.27 | 0.17 | 2.53 | 0.0027 | 0.36 | 2,961 | 2.69 | 40.35 | 29.65 | | 0.20 | 362.9 | 0.32 | 0.21 | 2.86 | 0.0028 | 0.42 | 2,569 | 2.40 | 33.33 | 22.47 | | 0.30 | 202.1 | 0.42 | 0.28 | 3.68 | 0.0029 | 0.56 | 1,869 | 1.82 | 23.88 | 12.86 | | 0.40 | 118.1 | 0.54 | 0.37 | 4.73 | 0.0026 | 0.72 | 1,403 | 1.39 | 17.95 | 6.83 | | 0.50 | 93.1 | 0.59 | 0.41 | 5.31 | 0.0025 | 0.80 | 1,217 | 1.23 | 15.90 | 5.23 |

| Note: Base case in bold. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Summation errors may occur due to rounding. | | |

Higher Grade Component of Mineral Resources

The new Mineral Resource Estimate demonstrates the presence of an increase in the higher grade component mineralization within the base case conceptual pit shell. Tables 5 and 6 show the Mineral Resources at a 0.5 %CuEq cut-off grade classified by mineralization type.

Table 5: Indicated Mineral Resources at a 0.5 %CuEq Cut-off Grade by Mineralization Domain within optimized pit constraint

| Zone | Cut-Off Grade % CuEq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | Leach | 0.5 | 1.4 | 0.48 | 0.33 | 2.50 | 0.0014 | 0.62 | 15 | 0.02 | 0.11 | 0.04 | | Oxide Cu | 0.5 | 6.1 | 0.62 | 0.32 | 3.36 | 0.0012 | 0.77 | 83 | 0.06 | 0.65 | 0.16 | | Oxide Cu-Au | 0.5 | 6.4 | 0.66 | 0.15 | 1.80 | 0.0015 | 0.74 | 93 | 0.03 | 0.37 | 0.21 | | Mixed | 0.5 | 16.8 | 0.66 | 0.30 | 2.79 | 0.0014 | 0.82 | 245 | 0.16 | 1.51 | 0.50 | | Supergene | 0.5 | 3.6 | 1.36 | 0.34 | 3.51 | 0.0015 | 1.53 | 109 | 0.04 | 0.41 | 0.12 | | Hypogene | 0.5 | 94.7 | 0.69 | 0.50 | 4.61 | 0.0014 | 0.93 | 1,440 | 1.52 | 14.03 | 2.92 | | Total | 0.5 | 129.0 | 0.70 | 0.44 | 4.12 | 0.0014 | 0.91 | 1,985 | 1.83 | 17.09 | 3.96 |

| Note: Summation errors may occur due to rounding. Higher Grade Mineral Resources are included within the Indicated Mineral Resources listed in Table 2 . | | |

Table 6: Inferred Mineral Resources at a 0.5 %CuEq Cut-off Grade by Mineralization Domain within optimized pit constraint

| Zone | Cut-Off Grade % CuEq | Million Tonnes | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) | CuEq (%) | Cu (Mlb) | Au (Moz) | Ag (Moz) | Mo (Mlb) | | Leach | 0.5 | 0.06 | 0.44 | 0.30 | 2.58 | 0.0015 | 0.58 | 1 | 0.001 | 0.01 | 0.002 | | Cu | 0.5 | 1.0 | 0.53 | 0.15 | 2.24 | 0.0016 | 0.60 | 12 | 0.005 | 0.07 | 0.04 | | Oxide Cu-Au | 0.5 | 1.8 | 0.57 | 0.10 | 1.53 | 0.0018 | 0.61 | 23 | 0.01 | 0.09 | 0.07 | | Mixed | 0.5 | 0.4 | 0.44 | 0.25 | 2.77 | 0.0011 | 0.57 | 4 | 0.003 | 0.04 | 0.01 | | Supergene | 0.5 | 1.9 | 0.82 | 0.46 | 3.97 | 0.0018 | 1.05 | 35 | 0.03 | 0.24 | 0.08 | | Hypogene | 0.5 | 87.8 | 0.59 | 0.42 | 5.47 | 0.0026 | 0.80 | 1,143 | 1.19 | 15.45 | 5.04 | | Total | 0.5 | 93.1 | 0.59 | 0.41 | 5.31 | 0.0025 | 0.80 | 1,217 | 1.23 | 15.90 | 5.23 |

| Note: Summation errors may occur due to rounding. Higher Grade Mineral Resources are included within the Inferred Mineral Resources listed in Table 4. | | |

Reasonable Prospects for Eventual Economic Extraction

In order to satisfy reasonable prospects for eventual economic extraction, the Mineral Resources are reported within a constraining shell. The block model was imported into Datamine NPV Scheduler software where AGP generated the optimized pit constraint. Table 7 summarizes the parameters that were applied to develop the optimized pit constraint.

Table 7: Optimized Pit Parameters for the Cotabambas Deposit

| Parameters | Units | Oxide, Leach Domain | Mix Domain | Supergene Domain | Hypogene Domains | | Metal Prices | | | | | | | Copper | $US/lb | 4.25 | 4.25 | 4.25 | 4.25 | | Gold | $US/oz | 1850 | 1850 | 1850 | 1850 | | Silver | $US/oz | 23 | 23 | 23 | 23 | | Molybdenum | $US/lb | 20 | 20 | 20 | 20 | | Metal Recoveries | | | | | | | Copper | % | - | 60 | 87.5 | 90 | | Gold | % | 65 | 55 | 62 | 62 | | Silver | % | 48 | 48 | 60.4 | 60.4 | | Molybdenum | % | - | 40 | 40 | 40 | | Other Costs | | | | | | | Mining Cost | $US/t | 2.00 | 2.00 | 2.00 | 2.00 | | Processing Cost | $US/t | 4.79 | 4.79 | 4.79 | 4.79 | | G&A Cost | $US/t | 0.41 | 0.41 | 0.41 | 0.41 | | Pit Slope | | | | | | | Overall Slope Angle | degrees | 47 | 47 | 47 | 47 | | Dilution | | | | | | | Mine Dilution | % | 3 | 3 | 3 | 3 | | Ore Loss | % | 3 | 3 | 3 | 3 |

Exploration at the Cotabambas Project

The property hosts a number of Copper-Gold porphyry/skarn type deposits aligned into 3 structural corridors crossing the property in the Southwest-Northeast direction as shown on Plan 2. The most studied corridor is located to the east part of the property. Along strike from the South pit to the North pit and including the Maria Jose targets, over 6 km of mineralization have been identified and drilled with the first two targets hosting the mineral resources.

The drilling results of 2022-2023 have delineated the existence of two individualized Cu-Au Porphyries into the mineral resources area. The porphyry stock in the North Pit is emplaced from depth to surface from east to west, developing in the cupula a quartz stockwork with Potassic alteration hosting >1.0 %CuEq which extends to 800 m depth along plunge, with 250m width and along 700m strike following the structural control in the Northeast direction. In the South pit, the porphyry demonstrates a feeder shape hosting a body of 0.80 %CuEq sizing some 600m at depth and 150m width and striking 400m along the structural corridor, where the stock is hope open to the east and at depth.

The average copper:gold ratio, in terms of contained metal value, in the South Pit is 1:1 demonstrating a higher gold content than in the North Pit, where the average ratio is 2.7:1. The silver:gold ratio in the South pit is 6:1 while in the North pit it is 14:1.

Exploration Potential

The Cotabambas Project has a number of areas with significant exploration potential:

Local scale . The stated Mineral Resources at 0.15% CuEq cut-off are a pit-constrained subset of the mineralization block model, where substantial mineralization with higher grades targets extends in different directions. See Plan 1 :

1. 1. NE pit target : the high grades at the North Pit (>1.0 %CuEq) make up a corridor of 250m width by 800m length in the northeast direction, which is displaced by an east-west fault. To the north of this fault the area is covered by colluvium representing a promising potential for future drilling and its 2km continuity may connect with the Maria Jose target. 2. SW pit target : the high grades into the South pit (>1.0 %CuEq) make up a structural corridor of 150m width by 350m length, elongated in southwest direction and open for additional drilling. The geology at surface is composed of a mix of quartz monzonite and latite dikes in the same direction, outcropping along 1.5km. 3. Intermedium Zone target : located in the area between the North and South pits at the convergence of two main faulting systems in North-South and East-West direction. This structural complexity displaces the mineralization down to the north side and indicates a favorable direction to continue drilling the high-grade body. 4. Ccalla East target : this is another porphyry located between 150m to 450m next to the East side of the mineral resources of the North pit, intersected by some drillholes hide some 150m below the diorite host rock outcroppings. The hole CB-68 intersected 194m of hypogene sulfides averaging 0.60%Cu, 0.24 Au g/t and 4.10 Ag g/t. The mineral of this target remains outside of the limits of the new mineral resources pit shell and may represent a split of the Intermedium zone target. 5. _NW pit target: _located between 400m to 1.5km to the Northwest of the North Pit, grouping the areas of Petra/David drilled in 2017-2018 and the Guaclle Skarn drilled in 2023, accumulating 2,760m of drilling in this target. In Petra-David there are a swarm of quartz-monzonite porphyry dikes with drill intersections up to 79m of copper oxides averaging 0.32%Cu, 0.08 Au g/t, and in Guaclle Skarn two holes intersecting hypogene sulfides of 28m length grading 1.50%Cu, 5,79 Ag g/t and 70m length averaging 0.47%Cu, 2.46 Ag g/t. 6. Deep Continuity : under the conceptual pit shell constraining the new mineral resources the high grade blocks continue open at depth, following the contact between the porphyry stock and the diorite host rock, but mainly inside the porphyry domain; representing attractive potential to grow the current resources with additional drilling.