Peru Copper, Inc. – Toromocho – US SEC Resource Estimate Technical Report

July 08, 2005

Vancouver-based minerals explorer Peru Copper (TSX: PCR, Amex: CUP) reported Monday proven and probable reserves of 1.26Bt grading 0.68% copper equivalent at its Toromocho copper-molybdenum project in central Peru’s Junin department.

The reserves were bumped up from measured and indicated resources in a new estimate calculated by Independent Mining Consultants (IMC), said Peru Copper in a statement.”

An additional 715Mt grading 0.70% copper equivalent remains as measured and indicated resources.

“The resulting total reserve and resource estimate of 1.98Bt is an increase of 142Mt over the previously announced measured and indicated resource of 1.83Bt,” said company chairman J. David Lowell.

The IMC study also reports 151Mt of inferred mineralized material. Including the inferred material, Toromocho is now estimated to have 22Blb (9.98Mt) of contained copper and more than 840Mlb (381,000t) of molybdenum, the statement said.

The updated IMC mineral reserve and resource estimate for Toromocho is based on 88,000m of drilling including work by Peru Copper through October 2005 combined with 42,000m of prior drilling by Peru’s Cerro de Pasco and Centromin.”

— http://www.bnamericas.com/news/mining/Peru_Copper_ups_Toromocho_resources_to_reserves

Toromocho was originally owned by Peru Copper, Inc. and has since been bought out by China Chinalco. Chinalco has since most recently started a $1.3 billion expansion project at Toromocho.

https://www.sec.gov/Archives/edgar/data/1307111/000119312505139757/dex992.htm
http://www.chinalco.com.pe/en/operations
https://www.reuters.com/article/us-peru-copper-china/chinas-chinalco-starts-1-3-billion-expansion-of-peru-copper-mine-idUSKCN1J00CI