The Petacas Project, Chile. Source: Culpeo Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Culpeo Minerals (CPO) confirms 500 metres of copper mineralisation while drilling at its Las Petacas project in Chile
  • The ongoing drilling program is testing copper mineralisation and geophysical targets identified during previous survey work
  • Six diamond holes have been drilled so far, with all intercepting variable widths of visible copper mineralisation
  • The company has completed a pole-dipole and ground-mag surveys at the Diego prospect, this data is being processed and will assist in refining the ongoing program
  • On market close, shares were trading down 2.70 per cent at 18 cents per share

Culpeo Minerals (CPO) has confirmed 500 metres of copper mineralisation while drilling at its Las Petacas project in Chile.

The ongoing drilling program is testing copper mineralisation and geophysical targets identified during previous survey work.

So far, six diamond holes have been drilled with all intercepting variable widths of visible copper mineralisation present as copper oxide and sulphide minerals.

Three holes have been completed at the Peta 1 prospect, where visual copper mineralisation has been confirmed over 500 metres of strike and up to 200 metres deep.

Additionally, the company noted the occurrence of oxide copper minerals such as malachite and chrysocolla at shallow levels, transitioning into chalcocite and chalcopyrite at depth.

Managing Director Max Tuesley said this mineralisation is “very promising” and suggests a large mineralised system that is open along strike and at depth.

The other half of the holes completed targeted anomalies previously defined at the Diego prospect where pole-dipole and ground-mag surveys have been completed.

Culpeo said the surveys identified two additional high priority targets. The data is currently being processed and the company expects the results by mid-December.

On market close, shares were trading down 2.70 per cent at 18 cents per share.

CPO by the numbers
More From The Market Herald

" Altech Chemicals (ASX:ATC) advances financing activities for Malaysia HPA project

Altech Chemicals (ASX:ATC) has advanced project financing activities for its Malaysia high-purity alumina (HPA) project.

" Booktopia (ASX:BKG) to open new customer fulfilment centre

Booktopia (ASX:BKG) has secured a new, a larger 20,000 metres square clean skin customer fulfilment centre…

" Alligator Energy (ASX:AGE) commences first exploration work on Nabarlek North Project, NT

Alligator Energy (ASX:AGE) has commenced its airborne gravity work at the Nabarlek North Project in the…

" Jade Gas (ASX:JGH) expands Mongolian drilling program

Jade Gas (ASX:JGH) expands the drilling program at the Tavantolgoi XXXIII Coal Bed Methane gas project…