12:19 PM EDT, 10/15/2024 (MT Newswires) -- Cerro de Pasco Resources ( GPPRF ) reported Tuesday its 40-hole, Phase 1 drilling program at the Quiulacocha Tailings Project is nearing completion.

Drillhole SPT04 intersected 19 meters assaying at 1.91 Oz/t (59g/t) of silver, 1.8% zinc, 0.77% lead, 0.07% copper and 0.07g/t gold, and the metal grades from SPT04 are higher than the shallow auger samples reported by Brophy in 2012 on the north and central portions of the TSF, which had calculated average grades of 1.26 Oz Ag/t, 1.44% Zn, and 0.79% Pb.

Assay results for additional drill holes are expected to be provided in the next 2 to 3 weeks.

"We are very encouraged by these initial results, particularly as they relate to silver grades," said CEO Guy Goulet. "This is the first time the Quiulacocha tailings have been systematically drilled and analyzed. Beyond zinc, lead, silver, copper and gold, the focus on metals such as gallium and indium provide the potential for payable by-product metal credits to be included in the planned concentrates," chief executive Guy Goulet said in a release.

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