11:46 AM EDT, 03/26/2026 (MT Newswires) -- Cerro de Pasco Resources ( GPPRF ) , up 20% on last look, said Thursday it has been granted surface access to the entire Quiulacocha tailings storage facility, including areas located outside of the company's El Metalurgista concession.

The agreement with Peruvian state company Activos Mineros SAC (AMSAC), marks the next phase of development of the Quiulacocha tailings reprocessing project, a statement said. CDPR will pay US$2.1-million over the initial term.

CDPR expects to start drilling activities in the middle of this year, subject to standard permitting and operational planning. A new reprocessing application will be filed with the mining agency to secure an authorization to start the preparation of the environmental impact assessment.

"Securing access over the entire tailings area allows us to move decisively into execution, advancing drilling, technical studies, and the work required to bring this project through permitting," said chief executive Guy Goulet.

CDPR shares were last seen up $0.12 to $0.72 on the TSX Venture Exchange.

Price: 0.73, Change: +0.13, Percent Change: +20.83