Culpeo Minerals (ASX:CPO) reports the presence of shallow, ‘high-grade’ copper intersections following a maiden drilling campaign at its Lana Corina Project in Chile.
The results, generated by a total of 10 drillholes from maiden and phase one drilling operations, highlight the shallow ‘high-grade’ nature of the copper mineralisation approximate to historic underground mine workings at the Lana and Corina breccia pipes.
Key intercepts from the maiden drilling campaign include:
- Hole CMLCD005A: 16.4m @ 1.32% Cu, 30ppm Mo from 118m, incl. 2m @ 4.01% Cu, 75ppm Mo from 131m
- Hole CMLCD004: 20.1m @ 1.13% Cu, 56ppm Mo from 82m; and
- Hole CMLCD001A: 7.9m @ 1.20% Cu, 30ppm Mo from 96m
Key intercepts from Phase 1 drilling:
- Hole CMLCD002: 257m @ 0.95% Cu, 81ppm Mo from 170m
- Hole CMLCD003: 173m @ 1.05% Cu, 50ppm Mo from 313m; and
- Hole CMLCD005: 81m @ 1.06% Cu, 145ppm Mo from 302m
Commenting on the results, Culpeo Minerals Managing Director Max Tuesley stated: “These results confirm the shallow high-grade potential within the Lana Corina mineralised system and highlight the quality of the Project. These kinds of grades close to the surface are exactly what we want to see as we work to define an open-pittable copper resource at the project.
“These results confirm the shallow high-grade potential within the Lana Corina mineralised system”
The mineralisation discovered to date at Lana Corina has a footprint of 400m x 500m at surface and is at least 400m deep, with excellent potential to significantly expand the high-grade mineralisation. We look forward to updating the market on Culpeo’s Phase 2 drilling program which will focus on the suite of near-surface regional targets that were recently generated.”
The company also notes that the mineralisation encountered in the holes adjacent to the historic workings complements the recent breccia discovery in hole CMLCD005, which was drilled to test the recently discovered T3 ground magnetic anomaly.
In addition, these results deliver ‘excellent’ potential for additional shallow copper breccia discoveries to exist within the project area, with the company aiming to test the other high priority, shallow exploration targets identified from the recent drilling campaigns.
Culpeo’s recently acquired Lana Corina Project is situated in the Coquimbo region of Chile and represents a ‘high-grade’ copper project, which is host to multiple outcropping copper bearing breccia pipes associated with a well-mineralised porphyry intrusive. The project is associated with a northeast-southwest oriented structural zone with >1,000m of strike and up to 400m wide, with mineralisation extending to 200m depth and outcropping at surface.
With results from the recent drilling campaigns now returned, Culpeo announces that it remains focused on exploring Lana Corina for additional shallow, ‘high-grade’ open pittable copper mineralisation, with a goal of ushering in a Mineral Resource Estimate (MRE) for the project.
Images: Culpeo Minerals Ltd
