Cero de Pasco
The Excelsior Property (Cerro de Pasco) Peru
The Excelsior Mineral Pile and Quiulacocha Tailings
- The Cerro de Pasco area in Peru became one of the world's richest silver producing regions after base and precious metals were discovered in 1630.
- Profits from the exploitation of the Cerro Pasco mine:
- built the city of Lima
- funded a war with Chili,
- helped construct the La Oroya Smelter
- built highest railway line in the world.
- Cerro de Pasco was one of the largest polymetallic mines in the world.
- Excelsior Stockpile from the mine contains 104MT of which it is estimated that circa 50Mt could be processed at nearby concentrators Paragsha/San Expedito. Currently neither facility in use so the possibility exists for either a tolling agreement or possibly a buyout of all Cerro de Pasco assets and facilities NPV of the stockpile project is estimated at USD566M.
- Cerro de Pasco Resources SA owns 100% of the mineral rights of the El Metalurgista Concession, including the Excelsior Stockpile and Quiulacocha Tailings.
- Genius Properties has signed a merger agreement to acquire 100% of the shares of Cerro de Pasco Resources SA.
- Our proposed transaction would result in a significant investment into Peru with many attendant employment, social and environmental benefits.
- A NI43-101 technical report has been filed following signature of merger agreement. Historical Resources Estimate generated 42.89 Mt @ 0.09 wt. % Cu (85.1 M lb), 0.73 wt. % Pb (690.3 M lb), 1.59 wt.% Zn (1696.1 M lb) and 66.1 g/tAg (91.1 M oz) with Pb+Zn= 2.33 wt.%*.
- Activos Mineros (government entity) owns the surface land around the El Metalurgista Concession.
*The estimates presented above are detailed and discussed in the NI 43-101 Report. They are treated as historic information and have not been verified for economic evaluation by the Corporation. These are considered Historical Mineral Resources and do not refer to any category of sections 1.2 and 1.3 of the NI 43-101 Instrument such as Mineral Resources or Mineral Reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. A Qualified Person (within the meaning of NI 43-101) has not done sufficient work to classify the historical estimate as current Mineral Resources or Mineral Reserves. The explanation lies in the inability by the QP to fully verify the data acquired by the various historical drilling campaigns and other sampling works. Further drilling would be required to upgrade or verity the historical resources. However, the QP has read the documents pertaining to the description of the different methods used in the historical evaluation of the Mineral Resources and is of the opinion they are reliable, but need to be updated to fully conform to the NI 43-101 or CIM norms. Furthermore, no Mineral Resources were calculated on the Excelsior property since 2013.
The NI 43-101 resources was independently prepared by Michel Boily, PhD, geo of Montreal, Quebec.
- Activos Mineros (State entity) owns the surface rights.
- The Excelsior stockpile has been extensively explored by RC drilling, trenching and metallurgical test work programs.
- Execute an agreement to use their milling and processing facilities.
- Acquire the surface rights on “Parcel K”.
- Complete Environmental Impact Assessment study.
- Conduct metallurgical testing and bulk-sampling.
- Initiate drilling to confirm geological resources NI43-101.
- Complete internal engineering studies.
- Commence production.
Genius is committed to work with the surrounding communities in order to find solutions to the existing environmental problem.
Our proposed transaction arouses interest of multiple international investors and would involve significant investment into Peru with many attendant employment, sustainable development – health, safety, environment and social acceptability – will be integrated into our business plan