Cerro de Pasco Resources Inc. (CSE: CDPR) has approved construction of an underground exploration decline and exploration programme to the newly discovered Pipe-2 North at the Santander Project in Peru.
The 800-m-long decline will be driven from the deeper levels of the current operation, the Magistral 4090 level, to the newly discovered Pipe-2 North. The underground decline is expected to take nine months to reach the mineralised area after which an underground diamond drill programme will further expand on the successful 2022 Surface Exploration Program.
After reaching Pipe-2 North, CDPR 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.
From the decline, diamond drill targets from the underground are compelling as previous surface drilling has reported high grade zinc skarn mineralisation. The drill programme is expected to confirm the continuity and shape of the potential new skarn Pipe-2 deposit.
The company´s plan is to fast track development of the Pipe deposits and unlock the higher Zn grades contained. The Pipe-2 North was initially discovered by drillhole SAN-0282-22 which intercepted 7.85 m @ 9.61 %Zn and 0.14 %Cu and 4.80 m @ 7.42 %Zn and 0.30 %Cu. To date, over 5,300 m has been drilled from surface on the Pipe-2 North.
“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 Jorge Lozano, Chief Operating Officer.
“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.”
Highlights of the project are:
- Initiating an underground decline and raisebore to Pipe-2 North
- Complete tunnel construction to Santander Pipe-1
- Exploring the extension of the Pipe-2 mineralisation and skarn target
- Fast track mining to Santander Pipe-1 through Pipe-2 North by 2024
- Initiating a 10,000-meter underground drilling program targeting Pipe-2 North
- Surface Drilling underway, with 5,384 meters already drilled
- Pipe-2 Metallurgical testing underway
For further information please visit: https://pascoresources.com/
