Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) has secured a crucial Land Easement via a Supreme Resolution, allowing the company to commence its exploration drilling campaign at the El Metalurgista Concession and Quiulacocha Tailings Project in Peru.
The easement marks a major milestone, overcoming a longstanding deadlock with Activos Mineros SAC (AMSAC) and enabling the company to advance its project.
"This is a very significant development for CDPR," stated Guy Goulet, CEO. "We have pursued this Easement for several years and were able to satisfy requirements every step of the way, overcoming the deadlock with AMSAC.”
AMSAC is a state-owned entity responsible for remediating environmental liabilities from the privatization of Centromin.
With the easement secured, Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) will access the El Metalurgista area and commence drilling during the Andean dry season from June to November. The company will also seek to extend drilling across the entire Quiulacocha Tailings site, beyond the El Metalurgista concession boundaries.
“The fact that we have achieved this milestone gives us significant comfort that subsequent stages can be executed more quickly due to this precedent,” Goulet added.
Cerro de Pasco will deposit approximately US$1 million at the National Bank for the easement, allowing immediate access and commencement of activities within the El Metalurgista concession.
The firm plans to complete a 40-hole drilling program, initiating the first phase of the QT Project in the coming months. The program will include geophysical studies, laboratory testing, mineralogy testing, resource estimation, and economic assessment.
Cerro de Pasco holds the El Metalurgista concession, which grants exploration and exploitation rights over the Quiulacocha Tailings, a facility spanning approximately 115 hectares and containing an estimated 75 million tonnes of processed material from the 1920s to 1990s.
The facility includes residues from the Cerro de Pasco open pit and underground mine, initially from copper-silver-gold mineralization and later from zinc-lead-silver mineralized material, with significant historical grades.