Cominco (CLT-T) has acquired a 25.5% interest in the Peruvian company Inversiones Colquijirca, which holds a 51% interest in Sociedad Minera El Brocal.
Minera El Brocal’s principal assets include the 2,100-tonne-per-day Colquijirca zinc-lead mine near the city of Cerro de Pasco in the central highlands of Peru, as well as the nearby San Gregorio zinc deposit and the Marcapunta copper deposit.
There are only nine months of reserves remaining at the Colquijirca mine, and Cominco acquired its interest in the Peruvian company because of the potential of two exploration projects.
Based on widely spaced drilling, the San Gregorio deposit, which is amenable to open-pit mining, contains a 70-million-tonne resource grading 7% zinc and 2% lead. At Marcapunta, underground exposures and drilling indicate an enargite deposit containing a resource of 50 million tonnes grading 1.8% copper.
To advance both of these projects, Cominco will work jointly with Cia de Minas de Buenaventura and an affiliated party with a 25.5% interest in Inversiones Colquijirca.
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