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Petaquilla Copper Ltd Profile

Petaquilla Copper Ltd is a Vancouver based emerging copper producer presently developing its world-class copper deposit in the Republic of Panama, encompassing most of the mining district of Donoso in the Province of Cocle. The project area covers 795 km2 and contains a massive porphyry deposit, which hosts 1.461 billion tonnes of mineralization grading 0.493% copper, 0.015% molybdenite, and 0.11 g/t gold. The resources occur in three project areas: Botija, Petaquilla, and Valle Grande. See Resource Estimates

The minimum recoverable contained metal reserves (non NI-43-101 compliant) are: 9.4 billion lbs of copper, 1.37 million oz of gold, 24.1 million oz of silver, and 131.1 million lbs of molybdenum. Fluor Daniel Wright performed the first of two feasibility studies in 1997-8 before the enactment of NI 43-101.

In a recent and exciting development, a copper oxide cap has been discovered in Botija Abajo. The area is characterized by a sulfide-enriched, granodioritic intrusion that appears to be capped by an extensive oxide zone of copper mineralization. The prior, widely spaced, drilling program at Botija Abajo intercepted significant amounts of pyrite and chalcopyrite, with minor gold indicating the outer zone of copper-gold porphyry. Recent drilling, however, intercepted significant chalcocite (oxide copper) beneath epithermal gold mineralization.

Petaquilla Copper controls 52% of the project while Inmet Mining Corp retains the remaining 48%. Teck Cominco has an option to earn 50% of PTC's interest providing Teck funds all of Petaquilla's share of the cost of bringing the project to production. Teck Cominco must make its election by March 31, 2008.

In 1996, CRU International published their next generation Copper Mines Report ranking the Petaquilla Copper deposit one of the top five undeveloped copper projects in the world. Petaquilla Copper has established resources and an existing feasibility study that only requires updating in order to be NI-43-101 compliant. The Panamanian government has granted the Company a 20 year tenure on the project area with options for two 20 year extensions for a total of 60 years. This is in accordance with Contract Law No. 9, also called "Ley Petaquilla", February 26, 1997. The project has newly constructed road and power infrastructure. The concession is located 100 kms from the Panama Canal.

Petaquilla Copper enjoys the full support of the Panamanian Government. The Government considers the Petaquilla Copper Project to be second only to the Panama Canal expansion in economic importance to the country.

Last changed at 22-Jun-2008 04:12PM by Red Mars