Silver grades and continuity also exceed forecasts
Shortly before the end of the year, Cerro de Pasco Resources (CSE CDPR / FRA N8HP) once again comes up with results from its Quiulacocha tailings project in central Peru. And the metal grades are once again impressive. It is not only the silver values that continue to exceed the company’s expectations, though!
Cerro de Pasco was once again able to consistently detect extremely high levels of gallium in taillings. The price of this critical metal, which is used in military and commercial electronics, semiconductors and computer and television screens, among other things, has more than doubled since China severely restricted its gallium exports to the U.S. at the beginning of August. According to Fastmarkets, the most recent price was USD 595 per kilogram.
The highlights of today’s drillings, the length corresponds to the drill core lengths from the surface:
– Drill hole SPT15 intersected 19 meters (“m”) of 73.09 grams per tonne (“g/t”) silver (“Ag”), 2.10% zinc (“Zn”), 0.90% lead (“Pb”) and 27.30 g/t gallium (“Ga”).
– Hole SPT16 intersected 19 m grading 55.44 g/t Ag, 1.64% Zn, 0.70% Pb and 26.21 g/t Ga
– Hole SPT17 intersected 21 m grading 54.71 g/t Ag, 1.50% Zn, 0.70% Pb and 31.05 g/t Ga
– Hole SPT18 intersected 22 m grading 50.27 g/t Ag, 1.31% Zn, 0.65% Pb and 28.99 g/t Ga
– Hole SPT34 intersected 15 m grading 58.77 g/t Ag, 1.79% Zn, 0.70% Pb and 31.29 g/t Ga
– Hole SPT37 intersected 18 m grading 50.51 g/t Ag, 1.28% Zn, 0.89% Pb and 49.26 g/t Ga
– Hole SPT38 intersected 18 m with 50.38 g/t Ag, 1.48% Zn, 0.96% Pb and 55.68 g/t Ga.
For a better understanding: The average gallium content in their naturally occurring materials is rather low, depending on the raw material only between 10 and 150 mg (!) / kg… (We recently reported on the topic of gallium https://goldinvest.de/gallium-price-continues-to-rise-after-chinese-export-restrictions/)
Silver content and deposits also exceed forecasts
In addition, Cerro de Pasco’s CEO Guy Goulet emphasizes that the results have exceeded expectations and forecasts overall – especially, though, with regard to the continuity and also the grades of the silver mineralization.
However, Mr. Goulet also explained that the continuous occurrence of gallium had not been expected and could potentially significantly increase the economic viability of the project. Representative composite samples will now be submitted for metallurgical testing to underpin future studies on the economic viability of Quiulacocha. The Cerro de Pasco CEO added that the results of the investigations should also support the next extensive drilling campaign.
In any case, the results presented, which are part of a 40-hole drilling program, have shown that the metal content is continuous at depth and laterally over 400 meters of the drilled area.
The occurrence of iron is also interesting, according to the company, as it indicates the presence of pyrite throughout the deposit. Pyrite (approximately 50% of the tailings) could be a valuable by-product for the project. The upcoming metallurgical test work program will therefore also evaluate the potential for pyrite recovery, including estimated grade, by-products and impurities.
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