Cardero Resources Releases Preliminary Economic Assessment for Pampa de Pongo Iron Ore Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Cardero Resources Corporation (TSX:CDU) (Vancouver, British Columbia) recently announced that it has finished a preliminary economic assessment for the central zone of the Pampa de Pongo iron ore project in southern Peru, approximately 400 kilometers south of the capital of Lima.

The preliminary economic assessment performed by SRK Consulting Incorporated (Vancouver) estimates a pre-production capital of $3.3 billion. The project entails the construction of a 75,000-ton-per-day underground mine expected to produce 15 million tons per year of iron pellet for a mine life of about 24 years. Additionally, Pampa de Pongo is planned to produce 240,000 tons per year of copper and 493,000 ounces of gold. Operations consist of recovering iron concentrate through wet magnetic separation, as well as copper-gold concentrate as byproducts through flotation. Iron concentrate will be converted into iron pellet at the port site.

Pampa de Pongo is considered to be one of the largest undeveloped iron deposits with associated copper and gold resources on the western coast of the Americas. Products will be exported to Asia because of the shorter distance through shipping routes from Peru to Asia.

Cardero Resources is a mining exploration company focused on the underexplored regions of Peru, Mexico and Argentina. In Peru, the company operates through its wholly owned subsidiary, Cardero Peru S.A.C. (Lima).

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