- Culpeo Minerals (CPO) drilling intersects visible copper sulphide mineralisation at its Lana Corina copper project in Chile
- The mineralisation encountered in the second diamond drill hole stretches over 400 metres, with the company’s current nine-hole maiden drilling program seeking to confirm the presence of copper mineralisation in breccia pipes
- The company says these are thought to be part of a vertically extensive copper porphyry system, with assay results expected within three weeks
- Culpeo says a ground-based magnetic survey covering 3.8 square kilometres over the Lana Corina project area is scheduled to begin this week, with results used to define new targets
- CPO shares up 4.44 per cent to 23.5 cents
Culpeo Minerals (CPO) says it has intersected visible copper sulphide mineralisation in a second diamond hole drilled at its Lana Corina copper project in Chile.
The mineralisation stretches over a continuous down-hole length of 400 metres, according to the company.
Culpeo said the maiden nine-hole drilling program totalling about 4,000m was aimed at confirming the presence of copper mineralisation in a trio of known breccia pipes.
The company said the breccia pipes form part of a vertically extensive copper porphyry system, with initial assay results expected within three weeks.
“Culpeo’s maiden drilling program at Lana Corina is planned to test the continuity of mineralisation at depth and to verify historic assay results,” Managing Director Max Tuesley said.
“We are now two holes into the nine-hole program and visual results are extremely encouraging, with both drill holes intersecting significant copper sulphide mineralisation in the form of chalcopyrite over continuous down-hole intervals up to 400 metres.”
A ground-based magnetic survey covering 3.8 square kilometres of the Lana Corina project area is scheduled to begin this week.
Culpeo hopes the geophysical survey will enable it to map the alteration zone peripheral to the known mineralisation at Lana Corina and improve drill-hole planning.
The company said it expected the data generated from the survey would help detect and define targets related to potential mineralisation, alteration, lithology and structures within the project footprint.
CPO shares were up 4.44 per cent to 23.5 cents at midday AEST.