Geology and Mineralization
- The Property lies within the Central Peruvian Metallogenic Belt, where the mines have produced 12%, 7% and around 10% of the World´s zinc, lead and silver production respectively over the last two decades (USGS, 2001-2020).
- The property is underlain by a package of Cretaceous carbonate and clastic sedimentary rocks that were tightly folded into a series of northwest-trending anticlines and synclines.
- An initial pre-mineralization, NW trending fold and thrust belt formed during Incaic orogenic cycle (late Palaeocene to Eocene). A second phase of contractional deformation in the mid-Miocene is thought to be contemporaneous with mineralization (N-NW trending anticlines and synclines and high-angle thrust faults).
- Jean-Paul Bergoeing Rubilar (2020) identified four different alteration / mineralization events at Santander: (I) Prograde skarn, (ii) Retrograge skarn, (iii) Porphyry-style Qtz-Py-Mo veins, and (iv) Late carbonate stage.
The Santander Property is dominated by three north to north north-west trending mineralization:
- The Magistral trend, to the west, along which various other exploration targets (Blato, Los Toros, and Los Toros Norte) have been identified in recent years to the north of the Magistral mine.
- The Santander Pipe trend, a central trend, which continues northwards from the Santander Pipe to Puajanca, Nuevo Santander (not within CDPR´s concessions), and Naty which is within CDPR´s concessions.
- The Romina trend, which parallels the Santander Pipe trend and hosts, amongst other deposits, Chungar´s Romina project and other exploration projects.
The Mineral Resources Inventory (MRE) for the Magistral Mine was declared in CDPR´s Technical Report NI 43-101 by DRA Global in 2021. This report was updated in 2022 by DRA Global-Information Memorandum Report as of the 9th of September of 2022.
| Magistral Mineral Resources | |||||
| Category | Tonnage (kt) | Zn (%) | Pb (%) | Ag (g/t) | Cu (%) |
| Measured | 666 | 4.29 | 0.33 | 19.5 | 0.05 |
| Indicated | 1,789 | 3.99 | 0.18 | 18.1 | 0.06 |
| Measured + Indicated | 2,454 | 4.07 | 0.22 | 18.5 | 0.06 |
| Inferred | 1,248 | 3.52 | 0.12 | 16.1 | 0.06 |
- All Mineral Resources have been estimated in accordance with the CIM Definition Standards. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- The Magistral Underground Mine Mineral Resource estimate is reported based on a net smelter return cut-off grade of $40/tonne with metal prices of: US$3,000/tonne for Zn, US$2,200/tonne for Pb, and US$25/Oz for Ag.
- For Magistral: NSR = (16.7 x %Zn) + (11.9 x %Pb) + (0.41 x g/tAg), assuming recoveries of 90% for Zn, 75% for Pb and 55% for Ag.
- The mine Geology Department has prepared the Santander Magistral Underground Mine Mineral Resource model. Qualified Person, Mr. Graeme Lyall (FAusIMM), DRA independent Resource geology consultant, has validated the resource with adjustments effective September 09, 2022.
The Mineral Resources Inventory for the Pipe Project (draft file) effective date of the report declared in Preliminary Economic Assessment (DRA, 2023) as of the 31st of January of 2023:
| Pipe Project Mineral Resources | |||||
| Category | Tonnage (kt) | Zn (%) | Pb (%) | Ag (g/t) | Cu (%) |
| Measured | |||||
| Indicated | 3,225 | 6.94 | 0.017 | 13.5 | 0.17 |
| Measured + Indicated | 3,225 | 6.94 | 0.017 | 13.5 | 0.17 |
| Inferred | 1,779 | 5.95 | 0.013 | 7.9 | 0.15 |
- All Mineral Resources have been estimated in accordance with the CIM Definition Standards. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
- The Santander Pipe Underground Deposit Mineral Resource estimate is reported based on net smelter return cut-off grade of $40/tonne with metal prices of US$3,000/tonne for Zn, US$2,200/tonne for Pb, US$9,300/tonne for Cu, and US$25/Oz for Ag.
- For Santander Pipe: NSR = (17.5 x %Zn) + (11.1 x %Pb) + (40.8 x %Cu) + (0.37 x g/tAg), assuming recoveries of 90% for Zn, 70% for Pb, 60% for Cu and 50% for Ag.
- The mine Geology Department has prepared the Santander Pipe Underground Deposit Mineral Resource Model. Qualified Person, Mr. Graeme Lyall (FAusIMM), DRA independent Resource geology consultant, has validated the resource with adjustments effective January 31, 2023.
Fig.1. Mineral Resources Category, Santander Magistral, September 09, 2022.
Fig.2. Mineral Resources Category, Santander Pipe Project, January 31, 2023.
