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By Anthony Esposito, 

Vancouverite Petaquilla Copper (TSX: PTC) plans to release a more detailed technical report in around two weeks on the new El Real and Brazo areas at its Petaquilla copper project in Panama, communications manager Tom Byrne told BNamericas.

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The company this week reported an initial measured resource estimate of 1.02Mt grading 0.85% copper for 19.0Mlb (8,618t) copper for El Real, while Brazo is estimated to host inferred resources of 37.4Mt grading 0.63% copper for 517Mlb copper contained, both at a 0.5% cutoff.

The new El Real corridor resources represent an addition of approximately 15% in the indicated and measured categories relative to the Petaquilla project scoping study and 23% compared to the feasibility study, the company said in a statement.

The El Real corridor is an area that the company discovered about a year ago.

El Real holds 6.54Mt grading 0.70% copper for 101Mlb copper contained in indicated resources and 7.92Mt grading 0.65% copper for 112Mlb contained metal in inferred resources, also using a 0.5% cutoff.

In addition, El Real hosts 1.50Mt grading 1.09g/t gold for 52,675oz gold in measured resources, 1.34Mt grading 0.89g/t for 38,509oz gold in indicated resources and 2.57Mt grading 0.62g/t for 51,221oz gold in inferred resources.

The resources are calculated using a 0.5g/t gold cutoff grade.

The US$3.5bn Petaquilla copper project is due to produce 4.45Mt copper, 1.63Moz gold and 59,500t molybdenum over a 23-year mine life.