Cerro de Pasco Resources Begins Drilling at Quiulacocha Tailings
Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) has recently secured crucial authorization for exploration activities from the Peruvian Ministry of Energy and Mines. This landmark approval is a significant moment in Peru’s mining history, as it marks the first time a new mining exploration project has been authorized within a tailings storage facility.
Commencement of Drilling Program
With the necessary authorization in hand, the company has started preparations for its Phase I drilling program at the Quiulacocha Tailings Project (“QT Project”). CDPR is currently in the process of installing its first drill rig to kick off this exciting new phase.
As part of this effort, CDPR has also completed initial geophysical studies to identify the bottom surface of the tailings deposit, which will facilitate more effective drilling operations.
Insights from Leadership
Guy Goulet, CEO of CDPR, shared his excitement about this development, stating, "This is a significant milestone for the country. This is the first-ever drilling authorization granted for a new mining exploration project over tailings in Peru, which is not related to a beneficiation concession. It is also an exhilarating stage for CDPR as we strive to unveil the true value of the QT tailings and devise a comprehensive Master Plan for the entire Quiulacocha tailings resource. We are committed to updating the market with drill results as soon as they become available."
Overview of the Drilling Program
To effectively carry out the Phase I drilling campaign, CDPR has enlisted the services of Ingetrol Comercial S.A.C., a subsidiary of Grupo Ingetrol based in Peru. Ingetrol is set to perform approximately 40 drill holes over the course of eight weeks, collecting over 1,000 tailings samples. This extensive data collection is essential for a comprehensive understanding of the depth and composition of the Quiulacocha tailings.
Laboratory Testing Procedures
Inspectorate Services Perú S.A.C., another Peruvian subsidiary operating under Bureau Veritas, will manage the geochemical and metallurgical testing program. The samples collected will undergo 60-element ICP Analysis at Bureau Veritas' laboratory in Lima, Peru. Subsequently, representative composite samples will be sent to Antofagasta, Chile, for metallurgical testing, which aims to determine the mineral resource estimate and identify suitable methods for reprocessing the tailings.
Update on Geophysical Studies
CDPR has contracted Geomain Ingenieros S.A.C., a well-regarded Peruvian firm specializing in geophysical mineral exploration, to conduct Phase 1 geophysical surveys. During these studies, over 9,000 meters of geophysical surveys have been successfully executed on the dry section of the tailings. Preliminary analyses indicate that the tailings deposit may extend beyond 40 meters in depth in several locations, surpassing earlier estimates.
Understanding the Quiulacocha Tailings
The Quiulacocha Tailings Storage Facility is a vital asset for CDPR, covering an area of approximately 115 hectares. It is estimated to contain around 75 million tonnes of material, which consists of processed tailings from mining operations that occurred from the 1920s to the 1990s. Historically, these tailings originated from mining copper-silver-gold mineralization with impressive grades, followed by the extraction of zinc-lead-silver mineralized materials.
Environmental and Economic Implications
CDPR's Quiulacocha initiative not only represents a promising mining venture—characterized by lower costs due to the surface nature of the tailings—but also signifies a substantial opportunity for environmental restoration and job creation in the local community. The company is dedicated to addressing the needs of the local population while expanding its operations.
Technical Oversight
Mr. Alfonso Palacio Castilla, a Chartered Engineer and Project Superintendent for CDPR, has reviewed and approved the scientific information presented in this article. He is recognized as a Qualified Person under NI 43-101 regulations.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is focused on developing its primary asset, the El Metalurgista mining concession, which includes silver-rich mineral tailings accumulated over more than a century of operations at the Cerro de Pasco open pit mine. The company’s mission emphasizes the reprocessing of mining waste alongside environmental remediation, contributing to a circular economy. The El Metalurgista asset stands as one of the largest above-ground resource concentrations in the world.
Frequently Asked Questions
What is the significance of the drilling authorization received by CDPR?
The authorization is historic as it is the first-ever granted for mining exploration activities within a tailings storage facility in Peru.
What are the next steps in the Quiulacocha drilling program?
CDPR will begin its Phase I drilling using the newly installed drill rig while continuously updating stakeholders with results.
Who is conducting the laboratory testing for the tailings samples?
The laboratory testing will be conducted by Inspectorate Services Perú S.A.C. under Bureau Veritas.
What is the primary goal of the Quiulacocha Project?
The goal is to determine the mineral resource estimate and explore reprocessing methods for the Quiulacocha tailings, which is an environmentally responsible approach to mining.
How does CDPR contribute to the local community?
CDPR aims to create employment opportunities and focus on environmental restoration in the region through its mining initiatives.
