Cerro de Pasco discovers 31 million oz of silver in stockpile
(Kitco News) - Cerro de Pasco Resources (CSE: CDPR) today announced maiden mineral resource estimate for the Excelsior stockpile in Cerro de Pasco, Peru.
According to the company’s statement, inferred mineral resource amounted to 31,483 thousand ounces of silver at 42 g/t grade, 139 thousand tonnes of lead at 0.6% grade and 331 thousand tonnes of zinc at 1.4% grade.
The Excelsior stockpile covers a surface area of 67.92 ha and contains approximately 70 Mt of material mined from the open pit at the world-renowned Cerro de Pasco mine, approximately between the years 1952 and 1996.
The company said that polymetallic material was stockpiled as it was, at the time, considered to be low grade and uneconomic.
Surface rights to the Excelsior stockpile are owned by Activos Mineros, a company created in June 2006 and wholly owned by the Peruvian Government. Cerro de Pasco has initiated certain procedures with the Ministry of Energy and Mines of Peru with the intention of acquiring the surface rights from Activos or obtaining their temporary permission to use them.
Cerro de Pasco Resources is a resource management company, with a focus on applying the latest technology in the production of commodity metals through the treatment and reprocessing of all material resources, dumps, tailings and mining waste at Cerro de Pasco.