Cerro de Pasco Resources Announces Consolidated Assays of the Drilling Campaign at Quiulacocha Tailings Project, Confirms High-Grade Mineralization, including Significant Gallium Concentrations
Cerro de Pasco Resources Announces Consolidated Assays of the Drilling Campaign at
Quiulacocha Tailings Project, Confirms High-Grade Mineralization, including Significant
Gallium Concentrations
MONTREAL, April 9, 2025 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (TSX.V:
CDPR) (OTCQB: GPPRF) (FRA: N8HP) (“CDPR” or the “Company”) is pleased to announce
the consolidated assay results from its drilling campaign at the Quiulacocha Tailings Project in
Central Peru. The 40-hole drilling campaign, comprising assays over a 300 x 1,000-meter area
(Figure 1), has confirmed high-grade intersections of silver (Ag), zinc (Zn), lead (Pb), copper
(Cu), and gold (Au), while also revealing significant concentrations of gallium (Ga), a critical
metal with growing strategic importance due to recent geopolitical developments.
Key Highlights
• Grade Consistency: Assays show grade consistency at both depth and laterally across
the drilled area, enhancing confidence in the project's resource potential (Figure 2),
with gallium, lead, copper and gold concentrations increasing in the southern section.
• High-Grade Mineralization: The drilling program consistently intersected elevated
grades of silver, zinc, lead , and gallium. The average grade across all samples was
5.5 oz/t AgEq1, including 1.7 oz/t (52 g/t) Ag, 1.5% Zn, 0.9% Pb, and 53 g/t Ga (Table 1
and Table 2).
• Strategic Gallium Discovery: Gallium, a critical metal used in advanced electronics and
renewable energy technologies, was identified throughout the tailings, with grades
increasing towards the south and 9% of samples exceeding 100 g/t Ga.
• Significant Pyrite Potential: Based on historical mineralogical reports and current core
logging, p yrite constitutes approximately 50% of the tailings and may represent a
valuable by-product.
• Mineralogical and Metallurgical studies are underway to confirm metal recoveries and
will investigate gallium and pyrite’s potential to add significant value to the project.
“The successful completion of this drilling campaign marks a significant milestone for Cerro
de Pasco Resources.” said Guy Goulet, CEO. “We are thrilled with the assay results, which not
only confirm the high- grade nature of the Quiulacocha Tailings but also 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. We are anticipating increased
copper grades towards the southern part of the deposit based on historic underground copper
mining records. We are advancing metallurgical testing and further exploration to unlock the
project’s full value.”
1 AgEq is calculated with Ag = $30/oz, Zn = $3,000/t, Pb = $2,000/t, Cu = $9,000/t, Au = $2,500/oz, Ga = $550/kg, and In = $350/kg
Figure 1: 40-hole Quiulacocha Drill Program
Detailed Results
The drilling campaign returned numerous high- grade intersections across the drilled area
(Table 1 and Table 2). Key results include:
• Gallium highlights: Drillholes SPT1_4 and SPT1_5 intersected gallium averaging 86 g/t,
with near-surface assays of 141 g/t (SPT1_4) and 115 g/t (SPT1_5) in the first 8 meters.
Lead grades exceeded 1% Pb, and gallium reached 100 -110 g/t in multiple samples,
statistically correlating with lead values.
• Copper, gold and silver: Intersections at the bottom of the drilled area yielded grades
up to 0.62% Cu, 1.34 g/t Au, and 168 g/t Ag, suggesting a later phase of polymetallic-
copper mining distinct from the primary high-grade copper zone further south.
The results indicate a clear trend of increasing lead and gallium concentrations towards the
south, alongside intersections of copper-silver-gold tailings in the central and southern parts
of the drilled area, expanding the economic potential beyond the initial focus on silver, zinc,
and lead.
Ongoing Work
The Company is advancing to the next phase of development with the following steps:
• Mineralogical and Metallurgical Testing: Representative composite samples are being
tested to determine the most effective recovery methods for silver, zinc, lead, copper,
gold, gallium, and pyrite, providing critical inputs for future technical and economic
assessments.
• Phase 2 Drilling: Encouraged by these results, the company is planning an extended
drilling campaign in the second half of 2025 , targeting the remaining tailings outside
the El Metalurgista concession and the primary high-grade copper zone further south.
Figure 2. Main cross section of AgEq (oz/t) across 1,000 meters of the drilled area
Table 1. Average grades of the drilling campaign
Metal Grade
Silver 1.66 oz/t
Zinc 1.49%
Lead 0.88%
Copper 0.09%
Gold 0.10 g/t
Gallium 53.2 g/t
Indium 19.9 g/t
Table 2. Average grades per drillhole
Drillhole Length (m) Ag
(oz/t)
Ag
(g/t)
%
Zn
%
Pb
%
Cu
Au
(g/t)
Ga
(g/t)
In
(g/t) % Fe ** AgEq
(oz/t) *
SPT03A 16 1.89 58.66 1.85 0.74 0.05 0.04 21.31 16.96 32.01 5.1
SPT04 19 1.91 59.47 1.80 0.77 0.07 0.07 30.58 18.35 32.42 5.4
SPT05 20 1.91 59.32 1.60 0.76 0.08 0.09 25.13 17.21 30.42 5.2
SPT06 21 1.74 54.16 1.48 0.75 0.08 0.10 29.58 17.32 28.60 5.0
SPT07 24 1.56 48.42 1.45 0.67 0.08 0.08 30.30 19.12 28.50 4.7
SPT08 33 1.56 48.47 1.73 0.66 0.13 0.38 32.54 20.36 > 15 6.0
SPT09 37 1.82 56.72 1.53 0.73 0.15 0.30 38.11 19.88 > 15 6.0
SPT1_1 26 1.67 51.89 1.54 1.17 0.10 0.05 83.67 11.24 25.48 6.1
SPT1_2 16 1.54 47.86 1.39 0.99 0.08 0.05 64.85 14.56 26.92 5.3
SPT1_3 32 1.69 52.43 1.18 1.07 0.10 0.05 88.30 25.21 27.95 5.9
SPT1_4 25 1.71 53.29 1.46 1.22 0.10 0.05 91.69 15.40 26.57 6.3
SPT1_5 25 1.74 54.06 1.65 1.23 0.10 0.06 79.81 15.32 25.85 6.3
SPT1_6 17 1.74 54.13 1.49 0.95 0.07 0.05 59.85 16.74 24.80 5.5
SPT10 31 1.51 47.10 1.30 0.87 0.10 0.13 57.85 18.25 26.94 5.3
SPT11 27 1.37 42.65 1.22 0.84 0.09 0.07 64.36 18.91 26.24 5.0
SPT12 27 1.66 51.55 1.28 1.30 0.11 0.07 110.07 27.56 25.78 6.7
SPT15 19 2.35 73.09 2.10 0.90 0.12 0.12 27.30 21.86 33.85 6.5
SPT16 19 1.78 55.44 1.64 0.70 0.08 0.09 26.21 19.08 32.04 5.1
SPT17 21 1.76 54.71 1.50 0.70 0.08 0.09 31.05 18.20 31.21 5.0
SPT18 22 1.62 50.27 1.31 0.65 0.08 0.09 39.63 17.38 27.78 4.8
SPT19 28 1.69 52.58 2.03 0.95 0.09 0.11 45.75 24.66 > 15 6.0
SPT20 32 1.67 51.80 1.49 0.86 0.11 0.16 44.04 22.46 > 15 5.6
SPT21 27 1.43 44.52 1.28 0.81 0.09 0.08 58.70 20.42 27.01 5.0
SPT22 26 1.48 46.01 1.26 0.98 0.09 0.05 68.61 22.59 26.99 5.3
SPT23 28 1.71 53.12 1.53 1.11 0.13 0.10 83.14 15.99 26.21 6.4
SPT25 15 1.76 54.74 1.73 0.74 0.05 0.05 29.79 18.59 31.80 5.0
SPT26 14 1.95 60.54 1.59 0.86 0.05 0.04 40.93 20.71 31.30 5.4
Drillhole Length (m) Ag
(oz/t)
Ag
(g/t)
%
Zn
%
Pb
%
Cu
Au
(g/t)
Ga
(g/t)
In
(g/t) % Fe ** AgEq
(oz/t) *
SPT27 21 1.56 48.56 1.47 0.68 0.08 0.10 34.80 19.52 28.26 4.9
SPT28 25 1.53 47.56 1.47 0.72 0.09 0.12 40.67 18.14 28.12 5.0
SPT29 22 1.53 47.72 1.29 0.79 0.10 0.11 46.02 23.42 > 15 5.0
SPT30 25 1.48 45.95 1.27 0.80 0.10 0.08 48.17 23.92 > 15 5.0
SPT31 23 1.51 47.03 1.30 0.95 0.07 0.05 61.57 19.20 27.44 5.2
SPT32 31 1.51 46.87 1.26 0.96 0.09 0.05 64.78 26.16 26.99 5.3
SPT34 15 1.89 58.77 1.79 0.70 0.04 0.04 31.29 18.97 30.28 5.2
SPT35 19 1.78 55.24 1.62 0.68 0.06 0.06 40.38 20.64 28.71 5.2
SPT36 21 1.59 49.46 1.30 0.64 0.07 0.07 32.42 17.64 28.37 4.5
SPT37 18 1.62 50.51 1.28 0.89 0.07 0.05 49.26 20.89 28.04 5.0
SPT38 18 1.62 50.38 1.48 0.96 0.06 0.05 55.68 19.52 28.26 5.3
SPT39 22 1.50 46.79 1.63 0.86 0.09 0.08 50.20 17.76 27.02 5.3
SPT40 20 1.76 54.61 1.63 1.35 0.12 0.09 96.57 25.15 24.86 7.0
Total 927 1.66 51.65 1.49 0.88 0.09 0.10 53.16 19.85 25 - 30 5.5
(*) AgEq is calculated with Ag = $30/oz, Zn = $3,000/t, Pb = $2,000/t, Cu = $9,000/t, Au = $2,500/oz, Ga
= $550/kg, and In = $350/kg
(**) Results indicated as ‘ > 15% Fe’ correspond to ongoing overlimit assays. The Fe content in all
drillholes is 25 – 30% Fe
Drill Program
CDPR engaged Ingetrol Comercial S.A.C., a subsidiary of Grupo Ingetrol (Chile), and ConeTec
Peru, a subsidiary of the ConeTec Group (Canada). The campaign utilize d percussion and
sonic drilling techniques.
On October 23rd 2024, the Company completed the last of 40 drill holes, ahead of the rainy
season, collecting more than 1,000 samples over a significant portion of the Quiulacocha
tailings deposit. The samples were safely transported to the laboratory in freezer containers.
Laboratory Testing
All samples were stored and transported to Lima in freezer containers to prevent oxidation and
preserve sample integrity.
The samples were dried and tested at the Inspectorate Services Lab (Bureau Veritas) and SGS
Lab in Lima. Following geochemical and mineralogical testing, representative composites from
selected samples will be sent for an advanced metallurgical test work program.
The assay results are derived from a combination of multi-element ICP (detecting 60 elements),
Atomic Absorption (for determining upper limits of the metals Zn, Pb, and Cu), and Fire Assay
for Au.
Quality Assurance (QA) and Quality Control (QC)
The preparati on of samples for Geochemical Analyses compris ed drying at 100°C ,
disaggregation, homogenization, and rotary splitting to obtain a representative pulp sample of
250 grams. The sample do es not undergo sieving or any other mechanical preparation
(crushing or grinding) to preserve the original grain size distribution.
The laboratories performed all sample preparation and analytical programs, supported by the
QA/QC program, which was monitored on a sample lot basis. The CDPR QA/QC program
consisted of inserting twin samples, coarse duplicate samples, pulp duplicate samples,
standard reference materials, and coarse blank material and further checking at a second
laboratory.
Geophysics
CDPR has successfully completed Phase 1 of its geophysical studies, focusing on the dry areas
of the Quiulacocha Tailings. Depth readings, conducted by Geomain Ingenieros S.A.C., ranged
from 20 to over 40 meters in various locations determined through Electrical Tomography and
Multichannel Analysis of Surface Waves (MASW).
The Quiulacocha T ailings
CDPR is the titleholder of the concession “El Metalurgista” in Peru, which grants it the right to
explore and exploit the Quiulacocha Tailings within its assigned area. The General Mining
Bureau of the Peruvian Ministry of Energy and Mines has formally confirmed the enforceability
of these rights.
The Quiulacocha TSF covers approximately 115 ha with tailings deposited from 1921 to 1992.
The surface area of the Quiulacocha TSF lying within the El Metalurgista concession is
approximately 57 ha, approximately 50% of the total TSF surface area. The tail ings are
comprised of processing residues from the Raúl Rojas open pit and underground mine.
Research indicates that tailings were first deposited on the eastern side of the TSF from
January 1921 and were derived from processing of high- grade copper-silver-gold ore, with
reported historical head grades of up to 10% Cu, 4 g/t Au and over 300 g/t Ag, sourced from
east-west striking veins in the underground mine. The main period of tailings deposition at
Quiulacocha came after 1943 when the Paragsha plant was put into commission, first treating
copper ore and later processing zinc-lead-silver ore. According to historical records, the Cerro
de Pasco mine processed approximately 70 Mt of zinc-lead-silver ore between 1952 and 1996
from the open pit and underground workings with average historical grades of 7.41% Zn,
2.77% Pb and 90.33 g/t Ag.(1)
With estimated minimal mining costs due to surface -level material and potentially available
reprocessing capacity at adjacent plants, CDPR's Quiulacocha Project stands out as one of
Peru's key mining initiatives. This project will provide economic benefits and aims to restore
the environment and create employment opportunities, aligning with the local
community's needs.
(1) Page 32 of the technical report dated March 15, 2021, with an effective date of August 31,
2020, is titled "National Instrument 43-101 El Metalurgista Concession- Pasco, Peru, prepared
for the Company by co -authors Adrian Martinez Vargas and Andrew Sharp of CSA Global
Consultants Canada Ltd " The technical report can be found under the Corporation's issuer
profile at www.sedarplus.ca.
Technical Information
Mr. Alfonso Palacio Castilla, MIMMM/Chartered Engineer (CEng) and Project Superintendent
for CDPR, has reviewed and approved the scientific and technical information contained in this
news release. Mr. Palacio is a Qualified Person for the purposes of reporting in compliance
with NI 43-101.
Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is focused on the development of its principal 100% owned
asset, the El Metalurgista mining concession, comprising silver -rich mineral tailings and
stockpiles extracted over a century of operation from the Cerro de Pasco open pit mine in
Central Peru. The company’s approach at El Metalurgista entails the reprocessing and
environmental remediation of mining waste and the creation of numerous opportunities in a
circular economy.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” under
Canadian securities legislation. Generally, forward-looking information can be identified using
forward-looking terminology such as “plans”, “seeks”, “expects”, “estima tes”, “intends”,
“anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements
that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”,
“occur”, “be achieved” or other similar expressions.
Forward-looking statements, including the expectations of CDPR’s management regarding the
realization, timing and scope of its drilling program, the completion of a resource report as well
as the business and the expansion and growth of CDPR’s operations, are based on CDPR’s
estimates and are subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of CDPR to be
materially different from those expressed or implied b y such forward -looking statements or
forward-looking information.
Forward-looking statements are subject to business and economic factors and uncertainties
and other factors, that could cause actual results to differ materially from these forward-looking
statements, including the relevant assumptions and risks factors se t out in CDPR’s public
documents, available on SEDAR+ at www.sedarplus.ca. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Although CDPR believes that the assumptions and
factors used in preparing forward -looking statements are reasonable, undue reliance should
not be placed on these statements and forward-looking information. Except where required by
applicable law, CDPR disclaims any intention or obligation to update or revise any forward -
looking statement, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.