Cerro de Pasco Resources Advances Comprehensive Phase 2 Drilling Across the Quiulacocha Tailings Facility

What happened

Cerro de Pasco Resources reported progress on Phase 2 drilling at the Quiulacocha tailings storage facility in Peru, starting August 25, 2026. It covers 97 locations authorized by the Peruvian National Water Authority and follows a 40-hole Phase 1 completed in 2025.

Confirmed

Global impact / market context

The drilling is meant to gather geological, water, engineering and environmental data for the first mineral resource estimate, which is an official estimate of contained metal, and for the environmental impact assessment needed before reprocessing the tailings.

Analyst inference

The program follows definitive agreements with Activos Mineros S.A.C. announced October 21, 2026, that consolidated the company's rights over 100% of the Quiulacocha tailings, so drilling progress is a step toward defining a resource and permitting a reprocessing project.

Analyst inference

What to watch

1. The company reports two sonic rigs on site: a compact rig on the dry zone since August 25 and an amphibious heli-sonic rig on the ponded zone since October. Confirmed
2. Watch whether the 97 authorized locations are completed and whether the collected samples support preparation of the first mineral resource estimate and the environmental impact assessment for the reprocessing project. Proposed
3. Investors should watch for later disclosure of drilling results and any update on permitting, because those would clarify the project's potential scale and the capital spending needed to reprocess the tailings. Analyst inference

Evidence

• globenewswire.com