The development of mining projects is key to Peñoles' organic growth strategy. For this reason, we continuously invest in exploration throughout metal’s economic-price cycles.
Peñoles’ has highly qualified professionals devoted to exploration and discovery of polymetallic and copper deposits in Mexico, Chile and Peru, who perform the following tasks:
This approach ensures we have a stable portfolio of projects and prospects at diverse stages of development.
In 2022, we carried out direct exploration work, drilling a total of 47 thousand meters. Exploration includes core sampling in the vicinity of the Velardeña (Durango) and Capela (Guerrero) mines. Core sampling was also performed in Reina del Cobre (Durango), Fortuna del Cobre (Sonora), Racaycocha (Peru) and Yastai (Chile). Geological, geochemical, and geophysical studies, including core sampling of 18 prospects, were also performed. We also expanded prospecting, evaluating 9 third-party prospects.
The results of the main projects are as follows:
Project to detect possible new mineralized zones. Disseminated copper deposit with inferred resources of 10 million metric tons of ore, with 1.2% copper, in a secondary enrichment zone. The first phase of the drilling campaign was completed, so we are currently quantifying resources and conducting economic assessments.