Cerro de Pasco Resources (TSX-V:CDPR, OTC:GPPRF) said that assay results from its drilling campaign at the Quiulacocha Tailings Project in central Peru confirmed consistent high-grade mineralization of silver, zinc, lead, copper, and gold, while also identifying significant concentrations of gallium, a metal critical to electronics and renewable energy technologies.
The drilling, which covered a 300-by-1,000-meter section of the tailings storage facility, returned average grades of 5.5 ounces per tonne silver equivalent (AgEq), including 1.7 oz/t silver, 1.5% zinc, 0.9% lead, and 53 grams per tonne gallium.
Gallium concentrations were highest in the southern portion of the site, with 9% of samples exceeding 100 g/t.
Multiple samples also showed copper grades up to 0.62% and gold values up to 1.34 g/t, suggesting a polymetallic zone tied to historical copper mining in the area.
CEO Guy Goulet told shareholders that the company is “thrilled” with the results, which Goulet said confirms the high-grade nature of the Quiulacocha Tailings and highlight significant gallium concentrations—a critical metal with rising global demand.
“The consistency of silver, zinc, and lead mineralization, coupled with the potential for valuable by-products like gallium and pyrite, position this project as a cornerstone of our portfolio,” the CEO said in a statement.
The Quiulacocha Tailings Storage Facility, partially covered by the company's “El Metalurgista” concession, contains historical processing residues from nearly 75 years of mining activity at the nearby Cerro de Pasco operations, including high-grade copper-silver-gold ore and later zinc-lead-silver feedstock.
Quiulacocha has minimal mining costs due to surface-level material and potential access to reprocessing facilities nearby, Cerro de Pasco noted.
The firm is preparing a second-phase drilling campaign in the second half of 2025, targeting tailings outside the El Metalurgista concession and a high-grade copper zone further south.