Cerro de Pasco
- The Cerro de Pasco area in Peru became one of the world's richest silver producing regions after base and precious metals wer dicovered in 1630.
- Profits from the exploitation of the Cerro de Pasco mine:
- Funded the development of Lima
- Funded a war with Chile
- Built the La Oroya smelter
- Built the highest railway line in the world
- Cerro de Pasco was one of the largest polymetallic mines in the world.
- Excelsior Stockpile from the mine contains 104Mt of which it is estimated that circa 50Mt could be processed at nearby concentrators Paragsha/San Expedito.
- Cerro de Pasco Resources SA owns 100% of the mineral rights of the El Metalurgista Concession, including the Excelsior Stockpile and Quiulacocha Tailings.
- Activos Mineros (peruvian State entity) owns the surface rights.
- The Excelsior stockpile has been extensively explored by RC drilling, trenching and metallurical tes work programs.
The property is known as the Excelsior and consists of the Excelsior Mineral Pile (“EMP”) and Quiulacocha Tailings (“QT”) forming residues generated by the processing of the Cerro de Pasco Mine Pb-Zn-Ag-Cu ore located 310 km from Lima, in east-central Peru.
The EMP occupies an area of 94 ha and contains 26,400,000 m3 of fragmentary rocks forming terraces composed of sulfide-rich rocks, sericitized volcanic and carbonate (dolomitic) rocks. Metal-bearing minerals consist of sphalerite (Zn), tennantite (Cu), cerussite (Pb), enargite (Cu) and galena (Pb, Ag-rich). The more reliable Historical Resources Estimate generated 42.89 Mt @ 0.09 wt. % Cu (85.1 M lb), 0.73 wt. % Pb (690.3 M lb), 1.59 wt. % Zn (1696.1 M lb) and 66.1 g/t Ag (91.1 M oz) with Pb+Zn= 2.33 wt. %*.
The QT cover a surface of 114 ha and contain approximately 79 Mt of pyrite-bearing tailings of two different types: Cu-rich and Zn-Pb-rich sulphides. The best Historical Resources Estimate generated a total of 2.94 Mt @ 43.1 g/t Ag (4.1 M oz), 418 ppm Cu, 0.79 wt. % Pb (51.2 M lb) and 1.43 wt. % Zn (92.7 M lb)*.
* The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Issuer or the writer. These are considered historical Mineral Resources and do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as Mineral Resources or Mineral Reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the authors to verify the data acquired by the various historical drilling campaigns and other sampling works. The authors have read the documents pertaining to the description of the different methods used in the historical evaluation of the Mineral Resources. The Issuer has not done sufficient work yet to classify the historical estimates as current Mineral Resources or Mineral Reserves. Therefore, the Issuer is in the opinion that the above quoted resources for the EMP cannot be relied upon.
- Execute an agreement to use the nearby milling and processing facilities
- Acquire the surface rights on “Parcel K”.
- Complete Environmental Impact Assessment study.
- Conduct metallurgical testing and bulk-sampling.
- Initiate drilling to confirm geological resources NI43-101.
- Complete internal engineering studies.
Genius is committed to work with the surrounding communities in order to find solutions to the existing environmental problem.
Our proposed transaction arouses interest of multiple international invesors and would involve significant investment into Peru with many attendant employment, sustaibable development - health, safety, environmet and social acceptability - will be inegrated into our business plan.