CSE: CDPR
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 polymetallic material was stockpiled as it was, at the time, considered to be low grade and uneconomic. This maiden Mineral Resource estimate accounts for the portion of the Excelsior Stockpile which falls within CDPR´s 100% owned El Metalurgista mining concession as stated below:
Mineral Resource Estimate of the Excelsior Stockpile with the Effective Date of |
Classification | NSR | Tonnes | NSR | Grade | Contained Metal | ||||
Ag | Pb | Zn | Ag | Pb | Zn | ||||
(US$/t) | (Kt) | (US$/t) | (g/t) | (%) | (%) | Koz | Kt | Kt | |
Inferred | 11 | 30,100 | 22 | 44 | 0.6 | 1.5 | 42,900 | 184 | 437 |
Notes:
- The Mineral Resource estimate was prepared by Dr.
Adrian Martínez Vargas ,P.Geo ., Senior Resource Geologist, and employee ofCSA Global Consultants Canada Limited , anERM Group company, and an independent Qualified Person for the purposes of NI 43-101. - Numbers have been rounded to reflect the precision of a Mineral Resource estimate, therefore numbers may not total.
- The reporting cut-off is calculated as the marginal NSR that equals total estimated mining (
1 US$ /t for stockpiles), processing (8 US$ /t), and administration costs (2 US$ /t), assumed metallurgical extraction by multiple stage flotation, and metal prices of Zn2,650 US$ /t, Pb2,125 US$ /t, and Ag16 US$ /oz. Metallurgical processing recoveries were modelled using test work and production data provided to CDPR by Volcan from its current operations at Cerro de Pasco which are processing similar material to that within the Excelsior Stockpile. - A bulk density of 1.98 t/m3 is used.
- Block model grade interpolation was undertaken using ordinary kriging.
- The average grade estimates reflect resources in-situ and do not include modifying factors such as external dilution, mining losses and process recovery losses. However, resources were reported based on a regularized model that included dilution with low-grade material.
- The Mineral Resource estimate for the surface stockpile is constrained by the vertical lateral limits of the El Metalurgista concession boundaries and the physical limits of the stockpile surfaces within the concession.
- Mineral Resources are estimated and classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves, adopted by the
CIM Council onMay 10, 2014 using the Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines, adopted by theCIM Council onNovember 29, 2019 . - Mineral Resources are not Reserves and, as such, do not have demonstrated economic viability.
- One troy ounce (oz) equals 31.10348 g
Subsequent to the Company's
Change in Reported Excelsior Stockpile MRE from |
Classification | NSR | Tonnes | NSR | Grade | Contained Metal | |||||
Ag | Pb | Zn | Ag | Pb | Zn | |||||
(US$/t) | (Kt) | (US$/t) | (g/t) | (%) | (%) | Koz | Kt | Kt | ||
Previous | Inferred | 11 | 23,195 | 21 | 42 | 0.6 | 1.4 | 31,483 | 139 | 331 |
Current 2021/03/18 | Inferred | 11 | 30,100 | 22 | 44 | 0.6 | 1.5 | 42,900 | 184 | 437 |
% Change Previous to Current | +30% | +4% | +5% | +2% | +2% | +36% | +32% | +32% |
Notes:
|
The Mineral Resource estimate was completed by independent Qualified Person, Dr.
The maiden Mineral Resource estimate incorporates six diamond drill-holes completed in 2008, sampled at 2 m intervals, composites of approximately 6 m depth collected from 146 test pits (trenches) completed in 2008, and 74 Reverse Circulation (RC) drill-holes drilled in 2009, sampled at 2m intervals. A set of surface grab samples collected prior to 2009 was used only to inform geological modelling. A total of 2,555 samples were used for Mineral Resource estimation: 2,191 from RC drill-holes, 207 from diamond drill-holes, and 146 from test pits. Samples were assayed for Pb and Zn in percent and Ag in g/t.
Surface rights to the Excelsior Stockpile are owned by Activos Mineros S.A.C. a company created in
Technical Information
The scientific and technical information contained in this news release has been reviewed and approved by Dr.
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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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