In search of new and economically viable ore deposits, Corporación Minera Centauro carries out intensive exploration programs in the surroundings of the Quicay Mine as well as in the prior exploitation area.
Currently, the company's project portfolio includes two main copper-gold deposits in exploration phase: Quicay I and Quicay II Projects. Both projects are located 321 kilometers northeast from Lima in the district of Simón Bolívar, province and department of Pasco. Likewise, both are situated between 4,280 and 4,320 masl, in an area compromised by 32 mining concessions totalizing 27,800 has.
In 2000, Corporación Minera Centauro acquired the ownership of the Quicay Project concessions and started their first exploration works by that year. Likewise, the company obtained the permits from the local community to use the surface land for mining operations and the environmental certification to exploit and process the gold ore from Quicay. During its 10 years of operational lifespan, the Quicay Mine achieved a production of 600,000 ounces of gold. It is worth pointing out that Quicay's initial reserves were estimated at 150,000 ounches of gold and that prior to the aquisiton of the mining concessions by Corporación Minera Centauro, the Quicay area was originally explored by several mining companies whom disregarded it due to its low reserves.
In 2011, due to the proximity of the mine closure stage of Quicay, Corporación Minera Centauro started explorations in the surrounding area of Pacoyán seeking for a gold disseminated deposit. By the end of 2011, satisfactory and of great potential results were obtained after discovering a copper gold porphyry deposit located 2 kilometres from the Quicay Mine site - this new deposit is named Quicay II project. Subsequently, another mineralized body was identified as a result of further explorations at the Quicay pit area and surroundings - this new deposit is named Quicay I project.
After obtaining favorable preliminary estimates, by mid-year 2014 Corporación Minera Centauro hired the specialized services from AMEC to draft the Conceptual Study of Quicay I-II projects.