Join our daily newsletter At The Bell to receive exclusive market insights
- Culpeo Minerals (CPO) receives additional results from drilling at the Las Petacas copper project in Chile
- The results come from two holes which have intersected near-surface, high-grade mineralisation as well as extended mineralisation to about 700 metres
- Managing Director Max Tuesley says he and the company are confident they’ve uncovered a large copper-gold system within the Las Petacas project
- There remains significant exploration upside since the majority of the six-kilometre mineralised trend is yet to be drill tested
- Culpeo Minerals shares are down 15.6 per cent to trade at 13.5 cents each
Culpeo Minerals (CPO) has received assays from two more holes drilled at the Las Petacas copper project in Chile.
The company is undertaking a diamond drilling program at the project with eight holes, totalling more than 2700 metres, completed so far. Of these, five were drilled at the Peta 1 prospect and three holes targeted anomalies at the Diego prospect.
Results from CMPDD005 include 14 metres at 0.73 per cent copper and 0.1 grams per tonne (g/t) gold from 59 metres, including one metre at 1.66 per cent copper and 0.08 g/t gold from 64 metres.
Results from drill hole CMPDD006 include five metres at 1.27 per cent copper and 0.07 g/t gold from one metre, including 0.7 metres at 3.35 per cent copper and 0.23 g/t gold from 2.9 to 3.6 metres.
The holes have reportedly intersected near-surface, high-grade mineralisation to the north of the target area. They also extended copper mineralisation to approximately 700 metres along strike.
Notably, there remains significant potential to unlock further mineralisation since the remainder of the six-kilometre mineralised trend is yet to be drilled.
Managing Director Max Tuesley was pleased with the drill results.
“The excellent results from the second and third holes at Peta 1 have highlighted the shallow, high-grade nature of the copper mineralisation at the prospect,” he said.
“With these new assay results, the company is confident that it has now uncovered a large copper-gold system within the Las Petacas project.”
Assays are pending for two holes and the maiden drilling program is ongoing.
Culpeo Minerals shares were down 15.6 per cent to trade at 13.5 cents at 11:42 am AEDT.
