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CERRO DE PASCO RESOURCES SIGNS AGREEMENTS WITH VOLCAN AND GLENCORE TO SECURE DEVELOPMENT OF QUIULACOCHA TAILINGS
CERRO DE PASCO RESOURCES SIGNS AGREEMENTS WITH VOLCAN AND GLENCORE TO SECURE DEVELOPMENT OF QUIUL...
About this update from Cerro De Pasco Resources, Inc.
[{"type":"text","content":"\n \n \n \n CERRO DE PASCO RESOURCES SIGNS AGREEMENTS WITH VOLCAN AND GLENCORE TO SECURE DEVELOPMENT OF QUIULACOCHA TAILINGS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n March 20, 2023\n \n \n /CNW/ -\n \n Cerro De Pasco Resources Inc.\n \n (\"\n \n CDPR\n \n \"\n \n or the\n \n \"\n \n Company\n \n \") (CSE: CDPR) (OTCMKTS: GPPRF) is pleased to announce that it has signed a Memorandum of Understanding (\"\n \n MOU\n \n \") with\n \n Volcan Compania Minera S.A.A.\n \n (\"\n \n Volcan\n \n \"), setting out shared objectives and a framework for collaboration with regards to first phase of development and exploration of CDPR's Quiulacocha Tailings Project (\"\n \n QT Project\n \n \").\n \n \n \n \n \n \n \n \n \n In addition, the Company is pleased to announce that\n \n Glencore International AG (\"Glencore\n \n \"\n \n )\n \n will provide CDPR a\n \n US$2 Million\n \n term loan to cover the costs associated with the first phase of the QT Project. This includes geophysical studies, a 40-hole sonic drilling program, laboratory testing, minerology studies, resource estimation and economic assessment. Funds will be disbursed in accordance with a schedule of milestones.  Repayment will occur within 12 months from the start of commercial production.\n \n \n \n \n Joint Objectives\n \n \n \n \n CDPR is the current titleholder of the concession located in\n \n Peru\n \n called \"El Metalurgista\" (\"\n \n the\n \n \n Concession\n \n \"), which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area.  The enforceability of these rights has been formally confirmed by the General Mining Bureau of Peruvian Ministry of Energy and Mines.\n \n \n CDPR has obtained most of the certifications and authorizations required to start exploration activities at the Concession, including an environmental certification (\"DIA\"), and an agreement with the Quiulacocha Community providing certain surface rights. Easement rights also required to conduct exp...