{kanada_flagge}Since acquiring the Santander zinc mine in December 2021, Cerro de Pasco Resources Inc. (CSE:CDPR, FRA: N8HP) has been making significant investments to extend the life of the Santander mine by adding new reserves and identifying additional resource potential. An underground drilling program of more than 30 kilometers serves this purpose. In total, CDPR has committed CAD 3.5 million to the exploration and infill drilling programs in 2022. To date, 4,247.60 m (10 holes) of surface exploration and 1,679.30 m (17 holes) of infill drilling have been completed underground. The initial results indicate the potential to rapidly expand the resource and bring it into production in the near future.
Guy Goulet, CEO of CDPR, commented, “These initial drill results from our 2022 drill program are well above current mining grades and highlight the potential for additional high-grade zinc mineralization on our Santander property. Part of our theory when we acquired Santander was that the lack of exploration over many years created a major opportunity for significant expansion of resources and grades at the mine, and results like these continue to give us confidence.”
The drill programs are aimed at increasing resources and reserves at the existing Magistral deposit, testing targets north and south of the known Magistral orebodies, and testing new areas at Blanquita, Santander Pipe North and the Puajanca deposit. 20,020 m (53 drill holes) and an additional 10,730 m (81 drill holes) of infill drilling for underground resources. The resource infill drilling program consists of 3,070 m at Magistral North, 3,990 m at Magistral Central and 3,670 m at Magistral South where drilling is currently underway.
As reported yesterday, the Santander Mine produced a total of 7,771,756 pounds of payable zinc equivalent (ZnEq) in the first quarter of 2022. Of this total, 7,210,518 pounds of payable zinc, 294,790 pounds of payable lead and 24,944 ounces of payable silver were produced.
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