Cerro de Pasco
- Cerro de Pasco was one of the oldest and largest polymetallic mines in the world, operating for almost 400 years.
- Profits from the exploitation of the Cerro de Pasco mine:
- Drove rapid development of the country's capital, Lima at the turn of the 20th Century
- Funded the construction of the La Oroya smelter
- Funded the construction of the highest railway line in the wold
- The Quiulacocha tailings facility contains approximately 79MT of processable mineral, for the cerro de Pasco mining complex.
- 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 43Mt of 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 with the Ministry of Energy and Mines to operate subject to confirmation of mineral resource and completion of studies.
- Execute an agreement for the use of nearby milling and processing facilities.
- Complete environmental impact assessment study.
- Conduct metallurgical testing and bulk-sampling.
- Complete internal engineering studies for the comprehensive surface rehabilitation and development of remaining in situ resources
Cerro de Pasco is committed to work with the surrounding communities in order to find solutions to the existing environmental problem.
Cerro de Pasco Resources is committed to the highest Environmental, Social and Governance standards. The Company expects to become the largest employer in Cerro de Pasco, and will drive initiatives to create a sustainable local economy, reduce poverty and raise the quality of life of the local population.