Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) reported positive assay results from eight additional drill holes at its Quiulacocha Tailings Project in central Peru, highlighting the presence of silver, lead, and gallium across the deposit.
The company said silver grades have consistently exceeded 50 grams per tonne (g/t) across the 32 drill holes assayed to date, while lead and gallium concentrations increase significantly in the southern portion of the project area.
Several samples recorded lead grades surpassing 1%, and gallium levels ranged from 50 to 110 g/t, nearly double the northern averages.
In the southern sector, drilling encountered thicker layers of copper-silver-gold tailings, including mineralized sections of 9 and 16 meters with copper grades exceeding 0.10%. Peak values reached 0.47% copper, 0.56 g/t gold, and 58 g/t silver.
"Today’s drill results are very encouraging and have exceeded our expectations," said CEO Guy Goulet.
Cerro de Pasco highlighted the growing importance of gallium, a critical metal used in advanced electronics and renewable energy applications. The company said recent export restrictions by China have heightened the strategic significance of gallium, potentially enhancing the project's economic viability.
The company also noted a consistent presence of pyrite throughout the deposit, which could serve as a valuable by-product. Further metallurgical test work will assess the potential for pyrite recovery and its associated by-products.