Peru Copper expands its resource at Toromocho

The total estimated resource has more than doubled at Peru Copper‘s (PCR-T) Toromocho property, 140 km east of Lima, Peru.

The measured resource stands at 107 million tonnes grading 0.73% copper and 0.024% molybdenum. The indicated resource is 711 million tonnes grading 0.63% copper and 0.022% molybdenum. Both of these estimates used a 0.6% copper-equivalent cutoff. The copper-equivalent of the combined measured and indicated resource is 0.9%. This resource forms the central core of the deposit.

Outside of the central core there is a lower-grade measured and indicated resource of 763 million tonnes grading 0.33% copper and 0.008% molybdenum. The copper-equivalent grade is 0.44%. This mineralization was estimated using a copper-equivalent cutoff which ranged from 0.26-0.59%.

In addition, using a 0.26% copper-equivalent cutoff, there is an inferred resource of 257 million tonnes grading 0.45% copper and 0.009% molybdenum.

All resource categories contain from 6.3-7.4 grams silver per tonne.

The plan is to process the higher-grade resource and stockpile the rest. The waste:ore ratio is estimated at 0.35:1.

The latest estimate, prepared by consulting firm, Independent Mining Consultants, used data from Peru Copper’s 48,230 metres of drilling combined with 41,260 metres of historic drill data.

Last August the resource was estimated by the same consultants to be an inferred 655 million tonnes grading 0.61% copper.

The company plans to drill 50,000 metres this year and begin a feasibility study. Metallurgical tests are underway. To date an average copper recovery of 85% has been realized using a traditional flotation process.

The property is underlain by intrusions, which have cut limestone, forming skarn and breccia pipes. Copper mineralization is primarily hosted by an intrusive breccia pipe. The deposit exhibits silicate alteration and metal zoning. The central zone contains disseminated copper and molybdenum, whereas surrounding this there are lead-zinc veins, which give way to lead-silver veins.

Minera Peru Copper Syndicate, a unit of Peru Copper, optioned the property from Centromin, a Peruvian state-owned mining company, in mid-2003.

The deposit is about 2 km from the mining town of Morococha, which is connected by paved highway with Lima. A railway also services the area.