Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) has announced new assay results from eight drill holes at the Quiulacocha Tailings Project in Central Peru which returned significant intersections of silver, zinc, lead, and gallium.
One hole showed 31 meters at 47 grams per ton (g/t) silver, 1.30% zinc, 0.87% lead, and 58 g/t gallium, including a 5-meter section at 0.21% copper and 0.43% g/t gold.
Another hole returned 27 meters at 45 g/t silver, 1.29% zinc, 0.81% lead, and 59 g/t gallium.
CDPR CEO Guy Goulet described the drill results as “highly encouraging” that exceeded the company’s initial expectations.
He highlighted that lead and gallium content significantly increased to the south, with grades exceeding 1% lead and 100 g/t gallium in several instances.
“Gallium grades in the south average between 59 and 84 g/t, nearly double the northern averages of 21 to 41 g/t, demonstrating a clear correlation with the lead mineral galena,” Goulet said.
The CEO added that the increasing presence of gallium, a critical metal used in electronics and renewable energy technologies, adds “significant potential” to the project’s economics.
“Gallium’s importance has risen sharply following China's recent export restrictions to the US and other nations, which have caused prices to surge and underscored its strategic value in global supply chains,” Goulet said.
“This geopolitical shift highlights the growing demand for secure and diversified sources of gallium, positioning our findings as particularly timely."