Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) has reported final assay results from the Quiulacocha Tailings Project in Central Peru, which have confirmed high-grade silver, zinc, gold, lead and gallium at the project.
The drilling program targeted the core zone of the Quiulacocha deposit, where the silver-zinc-lead mineralization is most prominent.
The results from these drill holes showed consistent mineralization, with significant concentrations of gallium, a metal that has gained increased importance due to its role in advanced electronics and renewable energy technologies.
Geopolitical shifts, particularly China's recent export restrictions on gallium, have sparked a surge in demand for this metal, adding significant potential to the project’s economics.
Average grades exceeded 50 grams per ton (g/t) for both silver and gallium across the drilled area, CDPR CEO Guy Goulet highlighted.
Goulet noted that two holes at the southern end of the drilling area intersected an average of 86 g/t gallium. One of the holes showed an impressive 141 g/t gallium over the first 8 meters, while the other averaged 115 g/t, indicating significant enrichment near the surface.
"Based on these results, we anticipate that gallium grades will continue to increase further south," Goulet told investors.
Thicker layers and potential byproducts
The CEO also noted that thicker layers of copper, silver and gold were encountered in the central part of the drilled area.
The highest grades recorded in this silver-zinc-lead tailings area reached 0.62% copper, 1.34 g/t gold, and 168 g/t silver.
“These results suggest that the intersected copper-bearing material correlates with a later phase of copper mining associated with the open-pit, rather than the primary underground high-grade copper zone, which is located further south, and planned for future drilling,” Goulet said.
Furthermore, the presence of pyrite throughout the deposit is notable, the company highlighted. Pyrite, which comprises approximately 50% of the tailings, could potentially be a valuable by-product for the project.
As part of the upcoming metallurgical test work, Cerro de Pasco intends to evaluate the feasibility of pyrite recovery, including the grade, by-products, and potential impurities.