(Excelsior Stockpile One of Largest Above Ground Mineralized Resources in the World)
After reaching highs not seen in eight years, silver’s value has seen great gains in early 2021 and investors in this field are sniffing out more and more intriguing plays in this market ….
A recent story in silver among small cap operators that caught a lot of attention was around news released by Canadian
resource management Company
Cerro de Pasco Resources Inc. (CSE: CDPR, Forum) and its stockpile.
CDPR just released the results of its maiden Mineral Resource Estimate (MRE) for its Excelsior Stockpile in Cerro de Pasco, Peru and the silver implications are nothing short of immense. The Excelsior Stockpile covers a surface area of 67.92 hectares and contains approximately 70 million tonnes of material mined from the open pit at its Cerro de Pasco mine, between the years 1952 and 1996. The polymetallic material was considered low grade and uneconomic at the time and stockpiled instead of being milled.
In an early
February 2021 news release from the Company for investors, the inferred mineral resource amounted to roughly
31,483,000 ounces of silver at 42 g/t grade, 139,000 tonnes of lead at 0.6% grade and 331 thousand tonnes of zinc at 1.4% grade. This maiden MRE accounts for the portion of the Excelsior Stockpile which falls within CDPR´s 100% owned El Metalurgista mining concession as shown in the table below:
MRE of Excelsior Stockpile Effective August 31st, 2020:
| Classification |
NSR
Cut-off |
Tonnes |
NSR |
Grade |
Contained Metal |
| Ag |
Pb |
Zn |
Ag |
Pb |
Zn |
| (US$/t) |
(Kt) |
(US$/t) |
(g/t) |
(%) |
(%) |
Koz |
Kt |
Kt |
| Inferred |
11 |
23,195 |
21 |
42 |
0.6 |
1.4 |
31,483 |
139 |
331 |
CDPR identified the opportunity at a time when the stockpiles and tailings at Cerro de Pasco were a lost cause requiring endless remedial work at the expense of the taxpayer and the gradual closure of the mining activity to the detriment of the local population. While mining waste remains at the doorstep of the town, health is also a major issue. So CDPR’s vision to retreat these stockpiles is definitely a silver lining for the local economy, the public purse, and the company’s shareholders.
CDPR has initiated procedures with Peru’s Ministry of Energy and Mines to acquire surface rights owned by the state-owned mining remediation company, Activos Mineros (AMSAC), demonstrating the technology, team, financial support and know-how to implement a sustainable solution to permanently treat the liability at no cost to the taxpayer that would also eventually restore the land to the communities for safe agricultural and commercial use.
CDPR’s has for several years promoted the economic viability and multiple benefits of reprocessing all historic waste to be found across Peru. A higher silver price is a bonus for all stakeholders.
(Cerro de Pasco Resources stock chart – Jan 28 to Feb 4, 2021. Click to enlarge.)
Like a number of other miners with assets attached to silver, this Company’s shares have seen a nice bump recently, as the price of the shiny white metal surged to eight-year highs.
Silver prices rose above $30 (USD) / Oz. earlier this month, which was its highest point since 2013 and the bull run in precious metals is expected to continue through 2021, with double-digit gains expected. Analysts forecast that the industrial demand for silver will rise thanks to its use in solar panels, electric cars, and electronic communications, while demand for silver as a precious metal and hedge against inflation will also continue to strengthen.
This is all good news for a Company such as Cerro de Pasco Resources Inc. and investors should keep an eye on what the Company does with its massive stockpile.
For more information on the Company, visit
pascoresources.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.