08:26 AM EDT, 03/19/2025 (MT Newswires) -- Cerro de Pasco Resources ( GPPRF ) on Wednesday said exploration drilling at its Quiulacocha Tailings Project in Peru showed high-grade multi-metal content.

The company said best results from a 40-hole program included 25 meters of core assaying at 53 grams per tonne (gpt) of silver, 1.46% zinc, 1.22% lead and 92 gpt of gallium. Another core tested at 57 gpt of silver, 1.53% zinc, 0.73% lead and 38 gpt of gallium over 37 meters.

"The findings confirm the consistent presence of silver and gallium across the drilled area, with average grades exceeding 50 g/t for both metals," chief executive Guy Goulet said in a release.

The company said it is encouraged by the consistent presence of gallium in the result, a metal used in electronics that was subjected to export restrictions by China, the No.1 producer of the metal.

"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 company said.

Cerro de Pasco shares down $0.01 to $0.26 Tuesday on the TSX Venture Exchange.