Cerro de Pasco Resources Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
205 – 68 de la Gare Av. Saint-Sauveur, Québec Canada J0R 1R0 |
| Tel No.： | 579-476-7000 |
| Web Site： | www.pascoresources.com |
| E-mail： | info@pascoresources.com |
| Contact Person： | Guy Goulet |
| Position： | CEO |
| Traded Market： | TSX-V | OTCQB | FRA | BLV |
| Traded Symbol： | CDPR | GPPRF | N8HP | CDPR |
| Outstanding Shares： | ~528,150,643 |
| 52 Week High： | $ 0.59 |
| 52 Week Low： | $ 0.115 |
| Present Price： | Click Here |
Positioned to Unlock the Value of the World’s Largest Above-Ground Metal Resource
Cerro de Pasco Resources Inc. (CDPR-TSXV) is a Canadian mining company focused on the development of its principal 100%-owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit and underground mine in Central Peru.
The Company is advancing the Quiulacocha Project, a large-scale tailings reprocessing initiative targeting approximately 75 million tonnes of silver-rich material deposited over 90 years from the historic Cerro de Pasco open-pit and underground mine.
The Company’s approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. The asset is one of the world’s largest above-ground metal resources.
Quiulacocha Tailings Project, Peru
CDPR holds a 100% interest in the El Metalurgista mining concession, covering 95.74 hectares, located approximately 175 km north-northeast of Lima, in the Pasco Region of Peru.
This includes mineral rights to 57 hectares of the Quiulacocha Tailings Storage Facility, which holds significant metal resources.
The Quiulacocha Tailings site is estimated to contain significant quantities of silver, zinc, copper, gold, and lead based on historical metallurgical balances, with an estimated 423 million ounces of silver equivalent (AgEq), already extracted and ready for reprocessing.
With all material located at surface, the project benefits from exceptionally low mining costs. A long-awaited easement was recently granted, enabling CDPR to commence its first major drilling and development program in over a decade.
Land Easement Secured
In May 2024, Cerro de Pasco Resources received a Supreme Resolution granting access to the El Metalurgista Concession for a 40-hole drilling campaign.
Formalities Completed
On May 29, 2024, Cerro de Pasco Resources finalized necessary steps, including a payment to the National Bank, paving the way for exploration and remediation.
CDPR is conducting an extensive metallurgical testing campaign to determine the optimal recovery of base and precious metals, as well as critical elements such as gallium (up to 80 g/t) and indium. While there is a processing plant next door with spare capacity, the Company will assess its use based on technical and economic outcomes.
The Quiulacocha Project is one of six mining projects on Peru’s national priority list, underscoring its national significance.
Quiulacocha Tailings Highlights
Historic Estimate
Quiulacocha tailings contain an estimated 423 million ounces of silver equivalent (AgEq), already mined and ready for reprocessing.
High Grade Material
Recent drilling confirms an average grade of 5.5 oz/t AgEq, including valuable metals like gallium and indium.
Efficient Tailings Extraction
Tailings extraction operates without dust or the use of explosives, ensuring a cost-effective and low-impact operation. Since the material has already been mined, processing primarily involves excavation, wet tailings pumping, and hauling. These activities typically cost between $1 and $2 per ton.
No Mining Required
With no traditional mining involved, the project eliminates 40% of typical operational costs.
Extended Mine Life
Operations are expected to span 20 years at a processing capacity of 3.6 Mtpa.
Sustainable Approach
Reprocessing tailings enables resource recovery, promoting environmental restoration and a circular economy.
Strategic Metals Supply
Gallium, indium and silver arevital in photovoltaics, advanced electronics, defense and aerospace.
Community Benefits
The project generates tax revenue for the government and supports local economic development.
Supporting New Jobs
Cerro de Pasco in Peru is a well-known mining town with a long-established mining workforce.
Recent Drilling
Highlights
Cerro de Pasco Resources recently completed 40 drillholes at the Quiulacocha Tailings Project, confirming high-grade silver, zinc, lead, and gallium, along with copper, gold, and indium. Results highlight strong metal grade consistency, reinforcing the project’s potential economic value.
Key Findings
Silver-Zinc-Lead
Multiple drill holes returned 50+ g/t Ag, 1.2% Zn, and 1% Pb, with notable intersections up to 32m @ 52 g/t Ag.
Gallium Discovery
Recent assays revealed gallium levels ranging from 35 g/t to as high as 141 g/t in certain sections. Notably, the southern section of the project exhibited gallium grades between 50 to 110 g/t, nearly double the northern averages.
Pyrite Potential
Est. at 50% of tailings, with future metallurgical tests planned for recovery assessment.
2025 Catalysts
President of Peru’s signature to grant broader mineral rights across the district – unlocking Phase 2 drilling, a NI 43-101 resource estimate, and full project engineering.
- Phase 1 drillholes (completed)
- Mineralogical studies
- Metallurgical studies
- Formalization of claim on surrounding tailings
- Expanded Phase 2 drilling program on the Cu-Ag-Au tailings
- Completion of various site scoping studies:
- Geotechnical stability (completed)
- Hydrogeology & hydrology (completed)
- Environmental baseline (completed)
- Infrastructure trade-off
- Logistics and marketing
- Assessment mining methods
Management and Directors
Steven Zadka, Executive Chairman
Founding partner of CDPR with over 15 years of transactional and executive management experience in Latin America, the USA, and Canada.
Guy Goulet, Executive Director and Chief Executive Officer
Over 30 years of investment experience in the mining sector, leading multiple listed ventures in Canada and internationally.
Manuel Rodriguez, Executive Director and President
More than 30 years of management and investment experience in the Peruvian mining sector, including leadership of SM Austria Duvaz with over 700 workers.
James Cardwell, Chief Financial Officer
CPA-credentialed finance executive with over 30 years of C-level experience supporting international clients across various industries.
John G. Booth, Lead Independent Director
More than 30 years of international experience in finance, law, ESG, and corporate governance of natural resource management, serving on multiple boards of listed companies.
Pyers Griffith, Independent Director
More than 30 years of investment and management experience in Latin America, holding senior positions in private equity and corporate finance.
John Carr, Independent Director
Chemical engineer and co-founder of New Century Resources. Led the restart of the Century Zinc Mine in Australia, now one of the world’s top 15 zinc producers. Also co-founded Future Element and Broken Hill Mines.
Frank Hodgson, Independent Director
More than 30 years of international experience in finance, law, ESG, and corporate governance of natural resource management.
René Branchaud, Independent Director
Partner at Lavery, deBilly, LLP, with over 35 years of legal experience. Serves as a director or secretary for several publicly listed mining companies. He is specialised in mining law.
On March 02, 2026, Cerro de Pasco Resources Inc. announced that it has entered into a Project Development Funding Agreement (the “Agreement”) with the U.S. International Development Finance Corporation (“DFC”), the development finance institution of the United States Government.
Under the Agreement, DFC will provide up to US$5 million in milestone-based project development funding to support defined project development activities for the Quiulacocha Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering the possibility of providing up to US$300 million in long term direct loan financing to support construction of the Project. Any such financing would be subject to, among other things, completion of the PD Activity, satisfactory due diligence, internal credit approvals and execution of definitive financing documentation. There can be no assurance that any such financing will be approved or provided.
Quiulacocha is considered one of the largest historic tailings resources globally. The Project targets recovery of silver and base metals together with gallium and indium, strategic technology metals essential to advanced semiconductors, energy systems and defense applications.
Pursuant to the Agreement, CDPR will carry out the defined project development activities (the “PD Activity”), which include Sonic Drilling, Geotechnical and Hydrogeological Drilling, completion of a Feasibility Study and Engineering program, and preparation of a comprehensive Environmental and Social Impact Assessment (“ESIA”), as further described in the PD Implementation Plan. DFC’s funding will support defined components of the PD Activity, with CDPR contributing matching funds on a 1:1 basis for the applicable workstreams.
On February 23, 2026, Visit Cerro de Pasco Resources Inc. at Booth #2628 at the Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 1 to Wednesday, March 4, 2026.
On February 03, 2026, An internationally recognized expert in the field of financial evaluation, project economics and risk assessment, Ms. Smith has almost two decades of experience on a variety of global projects across the mining and industrial sectors.
With a bachelor of science in chemistry, statistics and economics, and a BComm, honours, in financial analysis and portfolio management from the University of Cape Town, Ms. Smith has advised management teams on economic and market strategies for an array of commodities including base metals, bulk commodities, critical metals and rare earths in the sustainable energy transition.
"Lara's technical and valuation experience complements the board's existing skill set and governance oversight at a very appropriate time as development options, capital allocation and commercial framework are being considered," commented Steven Zadka, executive chairman of Cerro De Pasco. "We are pleased to welcome Lara to the board of directors and look forward to her contributions."
The corporation has granted 200,000 options to Ms. Smith. These options are granted in accordance with the terms of Cerro De Pasco's stock option plan. All options vest on their date of grant and each option entitles the holder thereof to purchase one common share of the corporation at a price of 90 cents for a period of five years from Jan. 29, 2026.
On January 09, 2026, Cerro de Pasco Resources Inc. provided an operational review and corporate update highlighting key workstreams completed and consolidated at the Quiulacocha Tailings Project, as the Company transitions toward the next stage of project execution.
This update builds on the technical and permitting progress outlined in the Company’s December 10, 2025 news release and reflects the completion and integration of several core Phase 1 programs.
Project Positioning Update: Over the course of 2025, the Company completed and consolidated the principal technical, environmental and regulatory workstreams required to materially advance the readiness of the Quiulacocha Project. Collectively, this work has reduced execution risk within the El Metalurgista concession, strengthened the permitting foundation, and established a well-defined pathway for advancing a comprehensive tailings reprocessing and environmental remediation solution.
Technical Readiness Established: The Company completed integrated Phase 1 technical programs encompassing mineralogy, metallurgy, rheology, geotechnical and hydrogeological studies, subsidence assessment, and validation of drill spacing and resource modelling methodologies. Multi laboratory metallurgical characterization programs were completed and advanced, providing a defined technical basis for scale up testing, flowsheet optimization and downstream engineering trade off evaluations.
Logistics and Infrastructure Evaluated: During 2025, the Company completed preliminary logistics and transportation studies evaluating concentrate handling, storage, and regional transport alternatives, including road, rail and pipeline-based options. This work has informed downstream engineering trade off studies and continues to be refined as part of the overall project execution planning framework.
Environmental and Baseline Framework Completed: Environmental-geochemical baseline programs were completed across both wet and dry seasons, with sampling conducted at more than sixty locations. Preliminary geotechnical and hydrogeological studies were finalized, enabling stability modelling, risk assessment and the design of the Phase 2 drilling program.
Permitting and Site Control Progressed: During 2025, the Company closed the Declaración de Impacto Ambiental related to the Phase 1 drilling program and submitted a Declaración de Impacto Ambiental for Phase 2 drilling activities to be conducted within the existing easement area of the El Metalurgista concession. In parallel, a surface use agreement was executed with the Community of Quiulacocha, securing continuity of access for ongoing and future technical activities.
The Company also completed and consolidated the technical, regulatory and stakeholder groundwork required to support the Tailings Reprocessing Application. This work brings the project to a late stage of readiness, supporting near term advancement toward a comprehensive tailings reprocessing and environmental remediation solution encompassing the broader Quiulacocha tailings footprint and representing a decisive step toward formalizing the Company’s position with respect to the historic tailings surrounding the El Metalurgista concession.
Completion of Phase 1 Bulk Sampling Program: From December 16 to 19, 2025, CDPR successfully completed Phase 1 bulk sampling at the Quiulacocha tailings facility. Shallow excavation was carried out to obtain fresh and representative tailings material.
Approximately 12.3 tonnes of raw bulk material were collected, packaged and transported to Lima under frozen conditions. The material will be submitted for laboratory chemical analysis and metallurgical testing to support ongoing technical evaluation, flowsheet development and future scale up studies.
The bulk sampling program represents an important step in validating metallurgical performance under representative conditions and supporting subsequent phases of technical development.
On December 15, 2025, Cerro de Pasco Resources Inc. has formalized its surface use agreement with the Community of Quiulacocha. The agreement was signed on Dec. 11, 2025. This agreement reinforces Cerro de Pasco Resources' long-standing collaborative framework with the community and strengthens the company's social licence to operate, underscoring the constructive relationship that has supported the Quiulacocha tailings project over time.
The agreement was approved by the community assembly and formalized before a public notary, providing a clear framework for the co-ordinated use of designated surface areas associated with the Quiulacocha tailings project. It encompasses a range of continuing and planned technical activities, including drilling, geotechnical and hydrogeological work, environmental baseline and monitoring programs, engineering studies, and related field support activities. These activities form part of Cerro de Pasco Resources' established project development program and proceed alongside the company's broader technical and regulatory initiatives.
This agreement also confirms the alignment between Cerro de Pasco Resources and the Community of Quiulacocha regarding the objectives of the Quiulacocha tailings project and reflects continued local support for its responsible development. The agreement has a two-year, renewable term and includes provisions related to community engagement, communication, local participation and social responsibility, reflecting the shared interest of the company and the community in advancing the project in a transparent and collaborative manner.
Guy Goulet, chief executive officer of Cerro de Pasco Resources, commented: "We are fortunate to enjoy a highly collaborative relationship with the Community of Quiulacocha, who have a long historic attachment to the mineral business and a clear understanding of the environmental, social and economic merits of our project. This agreement responds to the needs of the community and provides long-term stability as we advance our technical and engineering programs. It is the result of open dialogue and a collaborative relationship that we value greatly."
On December 12, 2025, Cerro de Pasco Resources Inc. announced that it has entered into a settlement agreement (the “Settlement Agreement”) with FTI Consulting Canada Inc., in its capacity as court-appointed monitor of Trevali Mining Corporation (the “Monitor”), and with Trevali Mining Corporation (“Trevali”), resolving all claims and counterclaims in the arbitration relating to the Share Purchase Agreement for Trevali Peru S.A.C. and the Santander Mine (the “Settlement”).
The Settlement is subject to court approval, as Trevali remains in creditor protection under the Companies’ Creditors Arrangement Act. The Monitor is bringing an application in the Supreme Court of British Columbia set to be heard December 16, 2025 for approval of the Settlement.
“We are pleased to have reached a definitive resolution that removes the remaining exposure associated with the historic Trevali transaction,” said Guy Goulet, CEO of CDPR. “This settlement, once approved by the court, provides clarity for all parties involved and allows the Company to move forward with a clear focus on advancing our core projects in Peru.”
On December 10, 2025, Cerro de Pasco Resources Inc. provided a comprehensive update on the progress achieved at the Quiulacocha Tailings Reprocessing Project. This update reflects the significant advancement of technical, environmental, geotechnical, and permitting work completed under Phase 1 and the transition into Phase 2. The Quiulacocha Project represents the most strategically important tailings reprocessing and remediation initiatives in Peru, with the potential to deliver both substantial resource value and long-term environmental benefits.
Guy Goulet, Chief Executive Officer, commented:
“Our team has made significant progress across the most comprehensive technical and environmental program ever undertaken on the Quiulacocha Tailings Project. The results provide strong confirmation of the project’s potential and position us well for the next stages of engineering and development. With multiple laboratories, technical partners, and specialist teams contributing to this effort, we are building a robust technical foundation for a long-term value generating operation.
Few projects globally offer the combination of metal endowment, environmental benefit, and development potential that we see at Quiulacocha. With the remaining administrative steps moving forward, CDPR is preparing to advance into the feasibility phase and remains fully committed to delivering this transformational project for our shareholders and for Peru.”
On November 20, 2025, Cerro De Pasco Resources Inc. completed the private placement.
Financing type: brokered and non-brokered private placement
Gross proceeds: $22,736,139.36
Offering: 47,366,957 listed shares with 23,683,478 warrants attached
Offering price: 48 cents per listed share
Warrant exercise terms: 68 cents per listed share for a two-year period
Commissions in securities: SCP Resource Finance LP (co-lead): 749,909 warrants; Raymond James Ltd.(co-lead): 749,909 warrants; Canaccord Genuity Corp.: 210,097 warrants; CIBC World Markets Inc.: 187,477 warrants; Haywood Securities Inc.: 13,500 warrants
Commission terms: Each non-transferable warrant is exercisable into a unit at 48 cents for a two-year period, representing one listed share and one-half of one warrant, each whole warrant being exercisable at 68 cents for a two-year period.
Disclosure: refer to the company's news releases dated Oct. 20, 2025, Oct. 29, 2025, and Nov. 7, 2025
On November 07, 2025, Cerro de Pasco Resources Inc. has closed its previously announced brokered private placement pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the LIFE offering) and its concurrent non-brokered private placement, for combined gross proceeds of $22,736,139.36.
Guy Goulet, chief executive officer of Cerro de Pasco Resources, commented: "With the completion of this financing, Cerro de Pasco is in a stronger financial position to advance the Quiulacocha project through the full feasibility stage and toward preconstruction readiness. Our immediate focus is on executing the technical, environmental and engineering programs that will define the project's design and secure the highest standards of performance and sustainability. This additional capital reinforces our commitment to transforming the historic Cerro de Pasco district into a model of responsible resource development and long-term value creation."
There is an offering document related to the offering that can be accessed under the corporation's profile at SEDAR+ and on the corporation's website.
The corporation intends to use the net proceeds from the offering to advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha tailings project, in addition to general corporate purposes. The corporation continues to carry out technical, environmental and engineering work at the Quiulacocha tailings project in line with its current permits. In parallel, the corporation is advancing preparations for the next stage of activities that will require additional regulatory authorizations. Discussions with the relevant authorities are continuing, and the corporation remains focused on progressing the necessary steps to enable a seamless transition into the next phase of project development.
On October 29, 2025, Cerro de Pasco Resources Inc. has filed an amended and restated offering document dated Oct. 28, 2025, in connection with its previously announced brokered commercially reasonable efforts private placement led by SCP Resource Finance LP, together with Raymond James Ltd., as co-lead agents and joint bookrunners, on behalf of themselves and a syndicate of agents (hereinafter referred to collectively as the agents).
Pursuant to the amended and restated offering document, the corporation offers, in each of the provinces of Canada, 31.25 million units of the corporation at a price of 48 cents per unit for gross proceeds of $15-million pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption.
The corporation intends to use the net proceeds from the offering to advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha tailings project, in addition to general corporate purposes.
On October 20, 2025, Cerro de Pasco Resources Inc. announced a commercially reasonable efforts private placement pursuant to an agreement with SCP Resource Finance LP (“SCP”), together with Raymond James Ltd. (“RJ”), as co-lead agents and joint bookrunners (the “Co-Lead Agents”), on behalf of themselves and a syndicate of agents (hereinafter referred to collectively as the “Agents”), of up to to 31,250,000 units of the Corporation (each, a “Unit”) at a price of $0.48 per Unit (the “Offering Price”) for gross proceeds of up to $15,000,000 (the “LIFEOffering”) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), as modified by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”).
Each Unit will consist of (i) one common share in the capital of the Corporation (a “Common Share”) and (ii) one half of one Common Share purchase warrant (each whole warrant, a “Warrant”).
The Corporation intends to use the net proceeds from the Offering to advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha Tailings Project, in addition to general corporate purposes.
July 30, 2025, Cerro De Pasco Resources Reports 2025 Fiscal Year-End Financial Results and Strategic Milestones
The Company significantly strengthened its financial position following the strategic realignment from the sale of non-core assets, resulting in net income of $24.6-million for the year. Cerro de Pasco is now well capitalized and strongly positioned to advance its world-class Quiulacocha tailings project.
July 23, 2025, Cerro de Pasco Resources Inc.’s common shares began trading on the Lima Stock Exchange (BVL) on July 17, 2025. Kallpa Securities S.A.B., in Lima, Peru, acted as sponsoring broker for the BVL listing.