Copper-gold-molybdenum porphyry mineralization was first discovered in the Donoso region of north-central Panama during a regional geological and geochemical survey by a United Nations Development Program team in 1968. Exploration through the mid 1990s subsequently outlined at least three large deposits as well as epithermal gold mineralization. In 1998, the joint venture of Inmet Mining, Teck and Adrian Resources announced a mineral resource of 950 million tonnes grading 0.51% copper, 0.091g/t gold and 98ppm molybdenum, but put the project on hold pending improvement in market conditions.
From 1998 until 2005 only minor care and maintenance work was performed on the project.
Inmet Mining now owns 100% of what is known as the Cobre Panama project. Since 2005 over 120,000 metres of drilling has been carried out, a Front End Engineering and Design report commissioned and extensive environmental studies undertaken. This talk will present an update on that work.
