- Cerro de Pasco Resources (CDPR) approved construction of an underground exploration decline and exploration program
- Work as at the Montreal-based resource company’s El Metalurgista mining concession in Peru
- The 800-metre-long decline will be driven from the deeper levels of the current operation.
- The underground decline is expected to take 9 months to reach the mineralized area
- A diamond drill campaign will happen after that
- Cerro de Pasco Resources is unchanged, trading at $0.20 at 11:08 am ET
Cerro de Pasco Resources (CDPR) approved construction of an underground exploration decline and exploration program.
Work as at the Montreal-based resource company’s El Metalurgista mining concession in Peru.
The 800-metre-long decline will be driven from the deeper levels of the current operation at the Pipe-2 North discovery.
The underground decline is expected to take nine months to reach the mineralized area after which an underground diamond drill program will further expand on the 2022 Surface Exploration Program.
After reaching Pipe-2 North, the company plans to continue construction of the tunnel to the Santander Pipe-1, which is the quickest way to access the deposit, as well as to develop production at the Pipe-2 North by end of 2023.
“Delineating further underground Mineral Resources and providing access to mine the resources of the Pipe-2 North and the Santander Pipe-1 will add significant value to the Santander Mine,” said Chief Operating Officer Jorge Lozano.
“While we are advancing the project internally and through a PEA Study for the Santander Pipe-1 by DRA due November 2022, we will undertake a systematic approach from a drill program for the development of Pipe-1 and Pipe-2 deposits from underground. We are very excited as from the underground decline should provide quick access from the Magistral to the Santander Pipe-1 deposit at a much lower cost than prior to the discovery of Pipe-2 North.”
Cerro de Pasco Resources is unchanged, trading at $0.20 at 11:08 am ET.
