Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to advise extensional drilling has commenced at the Lana Corina Project (the Project), Chile, building on the achievements of the 2023 program.
HIGHLIGHTS
- Diamond drilling program underway at the Lana Corina Prospect.
- The program is scheduled for 2,000m of drilling which aims to extend broad zones of high-grade copper and molybdenum mineralisationi along a >3km prospective corridor, including:
- 257m @ 1.10% CuEq in CMLCD002 from 170mii;
- 173m @ 1.09% CuEq in CMLCD003 from 313miii; and
- 169m @ 1.21% CuEq in CMLCD010 from 239miv.
- High-grade copper and molybdenum mineralisation has been defined at Lana Corina over a surface area of 500m x 400m, to over 700m deep and is open in all directions.
Figure 1: Drill rig operational at the Lana Corina Project April 2024.
Culpeo Minerals’ Managing Director, Max Tuesley, commented:
“Following the success of the 2023 program and the exceptional results we have delivered from Lana Corina, it is exciting to have commenced another significant drilling campaign at the Project in 2024.
The commencement of this extensional exploration program is an important step in realising the Company’s growth strategy, and we look forward to sharing progress updates with our shareholders over the coming months as we continue to drill our Lana Corina and Fortuna Projects.”
PROGRAM OBJECTIVES
The 2024 drill program is focused on expanding the western and down-dip extension of the high-grade copper and molybdenum previously reported at Lana Corina (Figure 2). Additionally, initial testing of the Vista Montana Prospect aims to extend the potential mineralised corridor to over 3km in strike length.
Figure 2: Plan view of drilling results at Lana Corina.
Culpeo’s exploration team has developed a greater understanding of the geological setting and the timing of both the breccia and porphyry hosted mineralisation in recent months. This new understanding provides a strong backdrop to targeting mineralisation extensions.
LANA CORINA PROJECT
The Lana Corina Project is located in the coastal belt of Chile, approximately 350km north of Santiago. The project benefits from substantial existing local infrastructure including sealed road access and a 75MW power station approximately 3km to the east.
The Project is associated within a structural zone oriented in a northeast-southwest direction with >3km of strike and up to 400m wide. High-grade copper mineralisation is associated with four known breccia pipes occurring in the upper levels of a large copper bearing porphyry hosted mineralised system. The high-grade mineralisation identified to date outcrops at surface and extends to a vertical depth of 700m and remains open.
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Figure 1: Drill rig operational at the Lana Corina Project April 2024.
Figure 2: Plan view of drilling results at Lana Corina.
