Bear Creek Mining
Bear Creek Mining Company
is a resource company headquartered in Vancouver, Canada and operating in Peru. Recently titled the world’s leading silver producer, Bear Creek Mining is engaged in gold and silver discovery
, as well as the exploration and development of precious metals projects. The company’s shares are listed under the symbol BCM on the Toronto Stock Exchange. In addition, the company is a tier I gold producer.
Bear Creek Mining Company was an exploration subsidiary of Kennecott Copper Corporation U.S., which operated in Peru till1994. In June 2000, a management team with solid mining experience in the region formed a private company, and its principal activity was the acquisition and exploration of mineral properties in Peru.
Bear Creek Mining Company commenced the Peru exploration program in July 2001 with an initial investment capital of $1.9 million. By 2001, Bear Creek’s activity has focused exclusively on precious metals exploration. In addition, the Company emphasizes on evaluation and acquisition of new high-quality properties located in Peru and the neighboring countries.
In the course of several years, Bear Creek has established itself as a reliable, competitive, and innovative exploration company. Its strategy targets mainly grass-roots exploration for bulk-tonnage, open-pittable gold, and silver deposits. At present, Bear Creek is a wholly owned subsidiary company of Bear Creek Mining Corporation.
Some of the Company’s main projects include Corani, Santa Ana, Ataspaca, Don Marcelo, and La Yegua. In January 2005, the Corani project, located in Southeastern Peru and a former mining
property of Rio Tinto Mining, was acquired and turned into one of the world’s most important developing silver deposits. The top end Corani Project, which comprises three open-pit deposits, contains 327 million silver ounces, 3.97 billion pounds of lead, and 2.46 billion pounds of zinc.
Another project, explored by the Company, is the 1.4-square-kilometre Santa Ana property located in the same epithermal belt as the Corani project. The initial tests suggested large near-surface silver mineralization. The following drilling confirmed the presence of significant deposits. So far, only about 50% of the property has been tested.
Acquired with a 50% interest from Southwestern Resources in 2004, the Ataspaca Project holds high-level porphyry copper deposits. The expected depth exceeded the Company’s objectives, and a year later, 60% of Ataspaca were sold to Anglo American Peru. Don Marcelo Project, situated in northern Peru, is another promising property acquired by Bear Creek. The initial tests revealed gold at very shallow depths. The project is still in its early stages of exploration, and additional sampling and drilling program has begun in 2007. Bear Creek also operates the La Yegua, which is located in southern Peru. La Yegua is prospective for bulk-tonnage gold and gold-copper deposits.
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