Culpeo Minerals

Compelling IP Chargeability Target Defined at Fortuna

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to announce, that a possible new third zone of copper sulphide mineralisation has been identified within the El Quillay copper trend at its Fortuna Project in Chile (Figure 1). Considerable exploration potential exists within the 3km long trend which hosts high-grade copper mineralisation in a series of parallel structures.


HIGHLIGHTS

  • Significant new El Quillay West targets generated through remodelled geophysical data at the Fortuna Project enhancing recent exploration success.
  • New target has potential for additional zone of mineralisation 500m to the southwest of the already defined El Quillay Fault Zone (see Figure 1).
  • An Induced Polarisation (IP) chargeability anomaly, indicative of copper sulphide mineralisation, has a large footprint of 500m x 300m.
  • The new El Quillay West target has had no prior exploration.
  • The El Quillay Fault Zone extends for >3km where previous drilling returned an intersection of 26m @ 0.81% CuEq1.
  • Upcoming drilling to test lateral and depth extensions of mineralisation within multiple structures proximate to the El Quillay Fault Zone.
  • Culpeo’s exploration program continues with new breccia targets at Lana Corina and Vista Montana to be drilled in the coming weeks.

Culpeo Minerals’ Managing Director, Max Tuesley, commented:

“The identification of the new El Quillay West target confirms our belief that a much larger mineralised system exists at El Quillay than previously recognised. Geophysical data remodelling has identified a large chargeability anomaly suggesting the presence of a third zone of parallel mineralisation to the south-west of the El Quillay North Prospect. We look forward to drill testing these targets during 2024.”

Figure 1: Plan view of El Quillay copper trend, showing multiple zones of potential parallel mineralisation

RESULTS

During January 2024, Resource Potentials Pty Ltd (ResPot) was commissioned to review, reprocess, model, image and interpret historic Pole-Dipole Induced Polarisiation (PDIP) survey data. ResPot identified four PDIP chargeability anomaly targets from the raw PDIP data, which have potential for copper sulphide mineralisation.

The four PDIP chargeability anomalies are located within the north-western part of the PDIP survey area, including one chargeability anomaly high coincident with known copper sulphide within the El Quillay North Prospect area (Figure 2). Three of the PDIP target areas are untested by existing drilling, including a high-priority target with follow-up ground based exploration planned.


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.

CPO:AU
The Conversation (0)
A person's hand holds a piece of copper metal ore above a blurry copper-colored background.

What's the Next US Copper Mine? 26 Copper Projects to Watch

Companies with upcoming copper mines in the US could be poised to benefit from tailwinds in the sector, including the new administration promising to cut "red tape" for critical minerals projects.

Copper demand is climbing quickly in recent years because of the rapid urbanization of the global south as well as the developing energy transition sectors. However, current copper mines are increasing in age and there is a lack of new copper mines to replace them, both due to limited greenfield exploration and long permitting times.

This has put the world's copper supply in a difficult situation, and experts expect to see deficits begin to emerge in 2025.

Keep reading...Show less
Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Euro Sun Gains 54 Percent as Copper Hits New High

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The US Bureau of Economic Analysis released February personal consumption expenditures (PCE) index data on Friday (March 28). The figures show inflation increased 2.5 percent on an annualized basis in February, aligning with analyst expectations and reflecting no change from the 2.5 percent recorded in January. On a monthly basis, inflation rose by 0.3 percent, also matching January’s increase.

However, core PCE, which excludes the volatile food and energy prices, increased 2.8 percent year-over-year and 0.4 percent month-over-month. Both came in above analyst expectations of 2.7 and 0.3 percent, respectively.

Keep reading...Show less
Copper nuggets and rising chart.

Copper Prices Surpass US$10,000 as US Tariff Fears Shake Global Markets

Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal.

London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.

US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel.

Keep reading...Show less
Copper nuggets.

Hillgrove Accelerates Nugent Copper Deposit Development, Raises AU$16 Million

Hillgrove Resources (ASX:HGO,OTC Pink:HLGVF) said on Monday (March 17) that it is accelerating development of the Nugent deposit at its Kanmantoo copper mine after raising AU$16 million.

The company secured AU$13 million through a placement to institutional and sophisticated investors, and raised AU$3 million via a share purchase plan that was open to existing shareholders.

"Following the success of the recent excellent Nugent drilling results, our technical team have identified a path to accelerate the Nugent production profile,” said CEO and Managing Director Bob Fulker in a March 5 release.

Keep reading...Show less
The sea floor.

Kiribati Explores Deep-Sea Mining Deal with China Amid Global Regulatory Talks

Kiribati is reportedly in discussions with China to explore deep-sea mining opportunities, signaling a potential shift in its approach to tapping into its vast offshore mineral resources.

The Pacific island nation holds the exploration rights to a 75,000 square kilometer area in the Pacific Ocean, a region believed to contain valuable deposits of cobalt, nickel, and copper — key materials for the global battery industry.

The talks between Kiribati and Chinese officials come after the collapse of a previous agreement with the Metals Company (TMC) (NASDAQ:TMC), a Canada-based deep-sea mining outfit.

Keep reading...Show less

Latest Press Releases

Related News

×