Culpeo Minerals

Broad Zones of Shallow, Visible Copper Intersected at El Quillay North Prospect

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to report significant widths of visible copper mineralisation have been intersected at very shallow depth at the El Quillay Prospect, Fortuna Project (the Project), Chile.


HIGHLIGHTS

  • Broad zone of shallow visible copper mineralisation intersected over 40m from 15m downhole in CMEQD002 and over 23m from 20m downhole in CMEQD001.
  • Intersected copper mineralisation in both diamond holes remains open in all directions.
  • Expands potential of the El Quillay corridor where outcropping copper mineralisation and historical mining is present over a strike length >3km.
  • Samples to be dispatched for laboratory analysis, with assay results expected in January 2024.

Figure 1: Shallow visible copper mineralisation intersected over 40m in drillhole CMEQD002.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“It is a fantastic result to immediately intersect visible copper so near to surface with our first two diamond holes at El Quillay North. This validates our initial work and confirms the prospectivity of this very exciting target. It also highlights the vast potential of the extensive El Quillay mineralised corridor, dominated by a wide, approximately 3km long zone, of outcropping copper mineralisation, the majority of which remains undrilled.”

We were always excited by what we saw on the ground at El Quillay North, which is now confirmed by the multiple zones of visible copper mineralisation in the drill core. Mineralisation is spatially associated with specular haematite and albite alteration, interpreted to be the part of an Iron Oxide Copper-Gold (IOCG) hydrothermal system.”

EL QUILLAY NORTH DRILLING PROGRAM

Broad 40m zone of copper mineralisation has been intersected from 15m, including an approximate 25m downhole zone of very strong copper sulphide mineralisation from 30m (CMEQD002). This provides visual confirmation that the high-grade copper-gold mineralisation recognised from historic underground sampling (refer ASX announcement 11 September 2023) extends down plunge and remains open in all directions.

Visual estimates of copper sulphides logged in CMEQD002 are presented in Table 1 (photos presented in Figures 2 and 3).

Figure 2: Examples of oxide copper mineralisation in drillhole CMEQD002 (15 – 30m downhole), A – Breccia hosted malachite and chrysocolla mineralisation 21.4m, B – Infill malachite and chrysocolla mineralisation 15.45m, C – Vein hosted malachite mineralisation 19.5m.

Figure 3: Examples of sulphide copper mineralisation in drillhole CMEQD002 (30 – 55m downhole). A – Infill chalcopyrite and pyrite mineralisation 51.5m, B – Vein hosted chalcopyrite mineralisation 43.8m, C – Disseminated chalcopyrite mineralisation 53.1m.

Culpeo notes this is based on a visual inspection only and the samples are yet to be assayed or analysed. The Company anticipates the release of assay results in respect of the visual estimates to occur on or around mid-January 2024.

Note: In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Assay results are required to determine the actual widths and grade of the visible mineralisation. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

A 23m zone of copper mineralisation from 20m down hole has also been intersected in diamond hole CMEQD001. Post mineralisation faulting was logged at 36m downhole and future drilling will target offsets to mineralisation to the east and west. Visual estimates of copper sulphides logged in CMEQD001 are presented in Table 2.

In both holes the near surface mineralisation was dominated by malachite and chrysocolla. In the primary zone the main copper mineralisation was in the form of chalcopyrite and to a lesser extent bornite.


Click here for the full ASX Release

This article includes content from Culpeo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the staking of 9 mineral claims covering 15,453 hectares (approximately 154 km²) in the northern Bear Lake Corridor of British Columbia . The JJB Property is named in honour of Finlay's Founder, John J. Barakso who was an early advocate for the potential of the Bear Creek Corridor.

Figure 1. New JJB Property location and expanded SAY Property boundary. (CNW Group/Finlay Minerals Ltd.)

JJB PROPERTY:

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SAY PROPERTY:

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Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

References:

*

Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca.

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:

  • PIL Property , which covers 13,374 ha in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. Exploration on the PIL Property is fully funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan (Refer to news release FYL NR03-25 entitled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties ". ) The PIL is neighboured by Amarc Resources and Freeport-McMoRan's joint venture JOY Project and TDG Gold Corporation's Shasta/Baker and Sofia Properties. The PIL Property is also 25 km northwest of Centerra Gold's past-producing Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

  • ATTY Property covers 3,875 ha of sub-alpine terrain in the southern Toodoggone region. Exploration on the ATTY Property is also full-funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan in April 2025.The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Project and the joint-venture JOY Project held by Amarc Resources and Freeport-McMoRan. The ATTY Property KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

  • Silver Hope Property covers 21,322 ha and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2 km Cu-Ag-Au mineralized trend with mineralization starting at surface.  West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC .

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

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