Cerro de Pasco Resources Begins Drilling at Quiulacocha Project
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Cerro de Pasco Resources Initiates Drilling at Quiulacocha Tailings
Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (FRA: N8HP) has recently received vital authorization for exploration activities from the Peruvian Ministry of Energy and Mines. This groundbreaking approval marks a significant milestone in the country’s mining history as it is the first authorization granted for a new mining exploration project within a tailings storage facility.
Drilling Program Begins
With the authorization secured, the company has commenced preparations for its Phase I drilling program at the Quiulacocha Tailings Project (“QT Project”). CDPR is in the process of installing its first drill rig to begin this exciting phase.
As part of this initiative, CDPR has also completed the initial geophysical studies to delineate the bottom surface of the tailings deposit, enabling more efficient drilling operations.
Expert Commentary
Guy Goulet, the CEO of CDPR, expressed great enthusiasm 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."
Details of the Drilling Program
To effectively execute the Phase I drilling campaign, CDPR has engaged Ingetrol Comercial S.A.C., a subsidiary of Grupo Ingetrol based in Peru. Ingetrol is scheduled to perform approximately 40 drill holes over eight weeks, collecting more than 1,000 tailings samples. This extensive data acquisition is crucial for a thorough understanding of the Quiulacocha tailings depth and composition.
Laboratory Testing Protocols
Inspectorate Services Perú S.A.C., another Peruvian subsidiary operating under Bureau Veritas, will oversee the geochemical and metallurgical testing program. The collected samples will undergo 60-element ICP Analysis at Bureau Veritas' lab in Lima, Peru. Following this, representative composite samples will be sent to Antofagasta, Chile, for metallurgical testing, aimed at determining the mineral resource estimate and identifying suitable methods for the reprocessing of the tailings.
Geophysical Studies Update
CDPR has contracted Geomain Ingenieros S.A.C., a prominent Peruvian firm specializing in geophysical mineral exploration, for conducting Phase 1 geophysical surveys. Over the course of these studies, more than 9,000 meters of geophysical surveys have been successfully conducted on the dry portion of the tailings. Preliminary analyses suggest that the tailings deposit extends beyond 40 meters in depth in several areas, exceeding earlier estimations.
Understanding the Quiulacocha Tailings
The Quiulacocha Tailings Storage Facility is a significant asset for CDPR and spans an area of approximately 115 hectares. It is estimated to contain around 75 million tonnes of material. This material is processed tailings sourced from mining operations that took place from the 1920s to the 1990s. Historically, these tailings resulted from mining copper-silver-gold mineralization with impressive grades and later from the extraction of zinc-lead-silver mineralized materials.
Environmental and Economic Impact
CDPR's Quiulacocha initiative not only demonstrates a promising mining venture—characterized by minimized costs due to the surface nature of the tailings—but also represents a significant opportunity for environmental restoration and local employment generation. The company aims to cater to the local community's needs 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 dedicated to developing its main asset, the El Metalurgista mining concession, which includes silver-rich mineral tailings extracted from over a century of operations at the Cerro de Pasco open pit mine. The company’s mission focuses on the reprocessing of mining waste combined with environmental remediation, contributing to a circular economy. The El Metalurgista asset represents one of the world's largest above-ground resource concentrations.
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.
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