Abstract The Petaquilla concession in central Panama hosts three major porphyry Cu-(Au-Mo) deposits, with total reserves of 1,218 million tonnes (Mt) grading 0.50 percent Cu, and 0.08 g/t Au, as well as the 570,000 oz Molejon low-sulfidation epithermal gold deposit. The main porphyry deposits on the property (Petaquilla, Botija, and Valle Grande-Vega) form east-southeast-trending elongate bodies that range from shallowly dipping and tabular (Petaquilla and Botija) to funnel-shaped (Valle Grande-Vega) in morphology. Alteration includes a central potassic facies, grading outward to silica-chlorite and variably developed propylitic facies. Phyllic alteration appears to be an overprint. At surface, quartz stockworks are associated with phyllic alteration, whereas at depth, they are associated with the potassic facies. Mineralization is pyrite-dominant at surface, but chalcopyrite-domi-nant at shallow depth. Bornite appears at deeper levels at Botija, and oxide-dominant assemblages are found in the deepest parts of that deposit. Molybdenite is common in the higher grade portions of the deposits. Highest copper and often, also gold grades are found where the phyllic and potassic facies overlap, or in propylitically altered contact metasomatic zones. At Molejon, gold mineralization occurs in multiphase, northeast-striking and shallowly north-dipping limonitic quartz-carbonate veins and vein breccias, and to a lesser extent, as disseminations in altered intrusive rock or in quartz stockworks. Geochemical exploration methods, combined with geologic observations, played a key role in the discovery of copper and gold deposits. Airborne magnetic data and radiometric data as well as ground magnetics permit discrimination between intrusive and volcanic rocks, between different suites of intrusive complexes, and between unaltered and altered rocks. Porphyry centers can be recognized in the field by the presence of strong, texturally destructive silicic-phyllic alteration with abundant pyrite, quartz-limonite, quartz-sulfide or quartz-magnetite stockworks, extensive zones of mineralized contact metasomatic rock, and multiple intrusive phases.