The amount raised under the Offering (further defined below) will be used for general and working capital purposes in advancing the Company's Quiulacocha tailings retreatment Project in
Quiulacocha Tailings – Permit to Drill
In line with process requirements, CDPR has received authorization from the
CDPR will submit a completed Environmental Impact Statement (DIA) by the end of
The DIA provides the details and coordinates for the 40-hole Drilling Program that CDPR intends to carry out across the Quiulacocha Tailings Storage Facility (TSF), within the boundaries of its El Metalurgista Concession. The Quiulacocha TSF is estimated to contain approximately 70 million tonnes of material with recoverable silver, zinc, lead, copper, gold and other strategic metals.
CDPR maintains the Social License with the
About the Tailings
The Quiulacocha TSF covers approximately 115 hectares and contains tailings deposited between 1921 and 1992. The tailings are comprised of processing residues from the Raúl Rojas open pit and underground mine. Research indicates that tailings were first deposited on the eastern side of the TSF from
The Drilling Program will focus on the central and deeper section of the tailings deposit and will be executed with sonic or other suitable drilling equipment to collect PQ size core. Drilling will be conducted on a 100 x 100 meter grid and will reach the base of the deposit. The intent of the drill programme is to confirm the grades already established in the upper portion of the tailings while also intersecting the expected higher-grade tailings in the deeper sections of the deposit. The Sampling and Assaying Program will be comprised of a Quality Assurance/Quality Control program which includes the insertion of blanks, standards, twin samples, duplicate pulps and coarse rejects and a selection of sample pulps all of which will be sent to an independent laboratory. After completing the Sampling and Assaying Program and Mineralogical Studies, composites will be generated to undertake detailed metallurgical studies.
Reprocessing the Quiulacocha tailings and storing the residue in a responsible manner in an approved modern facility forms part of an integral solution to remediate the greater Cerro de Pasco mining complex while restoring economic activity.
Technical Information
About the Offering
Any securities issued pursuant to the Offering will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the Offering.
The Corporation has not engaged an agent to assist in completing the Offering. However, the Corporation may pay finder's fees in connection with certain subscriptions.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the Canadian Securities Exchange.
About
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as "plans", "seeks", "expects", "estimates", "intends", "anticipates", "believes", "could", "might", "likely" or variations of such words, or statements that certain actions, events or results "may", "will", "could", "would", "might", "will be taken", "occur", "be achieved" or other similar expressions. Forward-looking statements, including the expectations of CDPR's management regarding the completion of the Transaction as well as the business and the expansion and growth of CDPR's operations, are based on CDPR's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CDPR to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Forward-looking statements are subject to business and economic factors and uncertainties and other factors, such as Covid-19, that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in CDPR's public documents, available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although CDPR believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements and forward-looking information. Except where required by applicable law, CDPR disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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