Cerro de Pasco Resources Announces New Results from Quiulacocha Silver-Zinc-Lead Zone, Confirming Significant Increase in Gallium and Lead Levels

MONTREAL, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCQB: GPPRF) (FRA: N8HP) ("CDPR” or the "Company”) is pleased to report assay results for an additional eight drill holes from the Quiulacocha Tailings Project in Central Peru.

Highlights - All intersections are in core lengths from surface and correspond to the predominant silver-zinc-lead zone in the northern section of the Quiulacocha deposit:

• Hole SPT27 intersected 21 meters ("m”) at 49 grams per tonne ("g/t”) silver ("Ag”), 1.47% zinc ("Zn”), 0.68% Lead ("Pb”), and 35 g/t gallium ("Ga”)
  • Including a 6 m intersection at 0.16% copper ("Cu”) and 0.24 g/t gold ("Au”)
• Hole SPT35 intersected 19 m at 55 g/t Ag, 1.62% Zn, 0.68% Pb, and 40 g/t Ga
  • Including a 3 m intersection at 0.14% Cu and 0.15 g/t Au
• Hole SPT36 intersected 21 m at 50 g/t Ag, 1.30% Zn, 0.64% Pb, and 32 g/t Ga
  • Including a 4 m intersection at 0.12% Cu and 0.14 g/t Au
• Hole SPT39 intersected 22 m at 47 g/t Ag, 1.63% Zn, 0.86% Pb, and 50 g/t Ga
  • Including a 5 m intersection at 0.16% Cu and 0.20 g/t Au
• Hole SPT40 intersected 20 m at 55 g/t Ag, 1.63% Zn, 1.35% Pb, and 97 g/t Ga
  • Including a 5 m intersection at 0.22% Cu and 0.23 g/t Au
• Hole SPT1_6 intersected 17 m at 54 g/t Ag, 1.49% Zn, 0.95% Pb, and 60 g/t Ga
• Hole SPT12 intersected 27 m at 52 g/t Ag, 1.28% Zn, 1.30% Pb, and 110 g/t Ga
  • Including a 9 m intersection at 0.18% Cu and 0.12 g/t Au
• Hole SPT1_3 intersected 32 m at 52 g/t Ag, 1.18% Zn, 1.07% Pb, and 88 g/t Ga
  • Including a 16 m intersection at 0.12% Cu and 0.06 g/t Au

"Today's drill results are very encouraging and have exceeded our expectations," said Guy Goulet, CEO. "Of the 32 drillholes assayed so far, silver has been consistently present across the area, with average grades exceeding 50 g/t. Importantly, lead and gallium concentrations increase significantly toward the south, with several samples surpassing 1% lead and 100 g/t gallium. Gallium grades in the southern section range from 50 to 110 g/t, nearly double the northern averages demonstrating a strong correlation with the lead mineral galena.”

"In the southern part of the drilled area, we also encountered thicker layers of copper-silver-gold (Cu-Ag-Au) tailings, with significant 9m and 16m sections containing over 0.10% copper. Grades reached up to 0.47% Cu, 0.56 g/t gold, and 58 g/t silver.”

The consistent and increasing presence of gallium, a critical metal essential for advanced electronics and renewable energy technologies, adds significant potential to the project's economics. Gallium's importance has surged in response to China's recent export restrictions to the U.S. and other nations, driving up prices and emphasizing its strategic value in global supply chains. This geopolitical shift underscores the urgent need for secure and diversified sources of gallium, making our discoveries particularly well-timed.

The results demonstrate that the metal content is continuous at depth and laterally across 1,000 meters of the drilled area (Figure 1). The assay results for each of the eight drill holes are presented in Tables 1 to 8.

The Iron results also indicate a consistent presence of pyrite throughout the deposit. Pyrite (indicatively 50% of the tailings) may represent a valuable by-product for the project. The upcoming metallurgical test work program will also evaluate the potential for pyrite recovery, including estimated grade, by-products and impurities.

Figure 1: 40-hole Quiulacocha Drill Program showing drillholes related to this press release

Table 1. Assay results, Drillhole SPT27

Table 2. Assay results, Drillhole SPT35