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Excelsior Stockpile

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Project Overview

The Excelsior Project is a large-scale reprocessing initiative aimed at unlocking the value of low-grade stockpiled mineralization at Cerro de Pasco. By leveraging modern processing technology, the project will transform previously uneconomic material into high-value zinc and lead concentrates, contributing to sustainable resource utilization.

The Excelsior Stockpile covers 67.92 hectares, containing approximately 70 million tonnes of broken rock. Originally stored between 1970 and 1996, this material was considered low-grade at the time but now presents a significant opportunity for reprocessing.

project overview
Estimated Grades and Contained Metals
  • Ag

    42.9 Million Ounces of Silver

  • Zn

    437 Kt Zinc

  • Pb

    184 Kt Lead

  • Grade

    44 g/t Ag, 1.5% Zn, 0.6% Pb

Geology

Geology

The Excelsior stockpile contains low-grade Zn, Pb, and Ag mineralization from the Cerro de Pasco Mine (underground and Raul Rojas open pit). This deposit is a complex epithermal polymetallic system, classified as a Cordilleran base-metal deposit.

Accumulated between 1970 and 1996, the stockpile consists of fractured rock fragments (average 10 cm, up to 2.5 m) across three terraces. It includes:

  • Carbonate (dolomitic) rocks with Zn, Pb, Ag mineralization
  • Sulfide-rich quartz–pyrite ore with Fe-oxide near the surface
  • Sericitized monzonites/volcanic rocks

Key minerals include sphalerite, tennantite, cerussite, enargite, Ag-rich galena, and sphalerite.

NI 43-101 Mineral Resource

Classification Tonnes (Kt) NSR Cut-off (US$/t) Tonnes (Kt) NSR (US $/t) Ag (g/t) Pb (g/t) Zn (%) Ag (Koz) Pb (Kt) Zn (Kt)
Inferred 30,100 11 30,100 22 44 0.6 1.5 42,900 184 437
View Notes
  1. The Mineral Resource estimate was prepared by Dr. Adrian Martínez Vargas, P.Geo., Senior Resource Geologist, and employee of CSA Global Consultants Canada Limited, an ERM Group company, and an independent Qualified Person for the purposes of NI 43-101.
  2. Numbers have been rounded to reflect the precision of a Mineral Resource estimate, therefore numbers may not total.
  3. The reporting cut-off is calculated as the marginal NSR that equals total estimated mining (1 US$/t for stockpiles), processing (8 US$/t), and administration costs (2 US$/t), assumed metallurgical extraction by multiple stage flotation, and metal prices of Zn 2,650 US$/t, Pb 2,125 US$/t, and Ag 16 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.
  4. A bulk density of 1.98 t/m³ is used.
  5. Block model grade interpolation was undertaken using ordinary kriging.
  6. 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.
  7. 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.
  8. Mineral Resources are estimated and classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves, adopted by the CIM Council on May 10, 2014, using the Estimation of Mineral Resource and Mineral Reserves Best Practice Guidelines, adopted by the CIM Council on November 29, 2019.
  9. Mineral Resources are not Reserves and, as such, do not have demonstrated economic viability.
  10. One troy ounce (oz) equals 31.10348 g.
Download the NI 43-101 Technical Report on Excelsior
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Highlights

Excelsior Stockpile

Strategic Metals Supply
Strategic Metals Supply

The Excelsior Stockpile, sprawling across a surface area of 67.92 hectares, holds a substantial volume of approximately 70 million tonnes of broken rock.

This material was accumulated between roughly 1970 and 1996, originating from what was then considered uneconomic or low-grade mineralization extracted from the Raul Rojas open pit.

CONCESSION AREA
CONCESSION AREA

Within the larger Excelsior Stockpile, a significant portion, covering approximately 35 hectares and containing an estimated 30 million tonnes of the broken rock, lies within the El Metalurgista Concession.

This focused area represents a key target for the project's resource recovery efforts.

EFFICIENT EXTRACTION
EFFICIENT EXTRACTION

The project is anticipated to employ extraction and haulage of already broken rock. This approach has the potential to significantly reduce operational costs by avoiding traditional and energy-intensive mining processes such as drilling, blasting, and the extensive hauling of newly mined ore.

ENVIRONMENTAL IMPACT
ENVIRONMENTAL IMPACT

By focusing on the reprocessing of existing stockpiled material, the Excelsior Project offers a potentially more environmentally responsible approach to resource recovery.

This method can minimize the need for new land disturbance and reduce overall energy consumption compared to the development of new, traditional mining operations.