Paleocene to Oligocene island arc-related calc-alkaline igneous rocks that were formed as the Nazca Plate was subducted beneath the Caribbean Plate
Tract ID 003pCu4002
Country Panama
Commodity Cu
Study area name Central America and Caribbean Basin
Tectonic setting island arc
Deposit type porphyry copper
Grade-tonnage model General porphyry copper model (Singer and others, 2008)
Geologic age
Geologic feature age Paleocene through Oligocene
Generalized age Tertiary-Paleogene
Oldest rocks age 65.5Ma
Youngest rocks age 23.03Ma
Age range 42.47Ma
Identified Cu resources 19,000,000metric tons
Known prospects 4
Mean Cu (t/sq km) 850t/sq km
Map scales used 500K

Results of the assessment

Assessment date 2010
Estimators Floyd Gray, Steve Ludington, Carl Nelson, and Lukas Zurcher
Assessment depth 1km
Quantitative assessment Yes

Estimated number of deposits

Number of deposits Confidence level
2 90%
3 50%
6 10%
6 5%
6 1%
Mean estimated deposits 3.47 ±1.64 (0.47%)
Probability of mean 0.27
Probability of no copper 0.04

Estimated deposit density

(sq km)
Deposit density
per 100,000 sq km
1 4.47 16,480 27

Mean estimated tonnage

Copper 14,000,000
Molybdenum 400,000
Gold 340
Silver 4,400
Ore 2,900

Undiscovered copper resource

Confidence level 95% 90% 50% 10% 5%
Tonnage 250,000 940,000 6,900,000 31,000,000 53,000,000

Economic analysis

Fraser country Panama
Fraser type 0.59%
Fraser high 0.41%
Typical cost 0.73%
High cost 0.27%
Infrastructure setting Mixed
Comments on depth split
Expected depth distribution
0 - 250m 0.2
250m - 500m 0.3
500m - 1km 0.5
Economically recoverable resources
Copper 8,600,000t
Molybdenum 180,000t
Gold 160t
Silver 2,500t
Probability no econ recoverable 0.38
Econ NPV 2,100x $1M
Exp dollars 104.74x $1M/100,000 sq km
Exp value class High

Bibliographic references

General Gray and others (2014)
Economic Robinson and Menzie (2012)

Deposits and prospects associated with this tract

Name Type State Country Development Details
Palmilla prospect Colón Panama Prospect Details
Cerro Azul prospect Panamá Panama Unknown Details
Cobre Panama deposit Colón Panama Prospect Details
Ipeti prospect Panamá Panama Prospect Details