Cerro De Pasco Resources Granted Land Easement for Major Exploration Campaign

Cerro De Pasco Resources CEO Guy Goulet joined Steve Darling from Proactive to share significant news about the company’s progress. Cerro De Pasco Resources has been granted a long-awaited Land Easement via Supreme Resolution, which provides access to the surface areas corresponding to its wholly owned El Metalurgista Concession and Quiulacocha Tailings Project. This easement marks a major milestone for the company as it allows for the commencement of a comprehensive exploration drilling campaign.

Goulet explained that the Supreme Resolution resolves a longstanding deadlock with the state-owned Activos Mineros SAC, enforcing Cerro De Pasco Resources' legitimate rights as the holder of the El Metalurgista Concession. This resolution enables the company to explore and eventually exploit the QT Project. The Government's decision, following concerted action led by the Ministry of Energy and Mines and a rigorous approval process, signifies the start of full-scale project operations in Cerro de Pasco. Land easements of this nature have only been granted a few times in Peru's history, underscoring the importance and rarity of this achievement.

The company has demonstrated full compliance with all requirements to gain access to the El Metalurgista area and is set to begin drilling during the forthcoming Andean dry season, starting in June. Cerro De Pasco Resources plans to complete a 40-hole drilling program, initiating the first phase of the QT Project in the coming months, coinciding with the dry season in the Peruvian Andes.

This extensive drilling program will include geophysical studies, laboratory testing, mineralogy testing, resource estimation, and economic assessment. The objective is to compile a comprehensive 43-101 resource report, providing detailed insights into the project's potential.

Goulet emphasized that this land easement is a crucial step forward for Cerro De Pasco Resources. It not only facilitates immediate exploration activities but also sets the stage for long-term project development. The company is committed to leveraging this opportunity to fully explore the QT Project, which holds significant promise for future mining operations.

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