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- Culpeo Minerals (CPO) has announced multiple high-grade copper intersections at its Lana Corina project in Chile
- The company is currently undertaking a 4000-metre maiden drilling program at the project to test high-grade copper mineralisation
- Results come from hole five which intersected multiple zones of high-grade copper mineralisation and up to 1.06 per cent copper and 145 parts per million molybdenum
- Drilling also aided in the discovery of an unknown breccia-hosted copper zone that corresponds to the new T3 ground magnetic anomaly
- Shares in Culpeo are up 82.5 per cent on the market and are trading at 36.5 cents at 11:34 am AEST
Culpeo Minerals (CPO) shares have skyrocketed after encountering multiple high-grade copper intersections at its Lana Corina project in Chile.
The company is currently undertaking a 4000-metre maiden drilling program at the project to test high-grade copper mineralisation.
Results come from hole five which intersected multiple zones of high-grade copper mineralisation.
New results include 49 metres at 0.83 per cent copper and 41 parts per million (ppm) molybdenum and 80.87 metres at 1.06 per cent copper and 145ppm molybdenum.
Drilling also aided in the discovery of an unknown breccia-hosted copper zone that corresponds to the new T3 ground magnetic anomaly.
Results have now been received for holes one, two, three and five and reinforce Culpeo’s understanding that the Lana Corina project has strong potential to host large scale, near-surface high-grade copper and molybdenum mineralisation.
“CMLCD005 is another wide >1% copper intercept confirming our belief that the Lana Corina Project has the potential to host a significant >1% near-surface copper orebody,” Managing Director Max Tuesley said.
“This has the potential to transform the prospectivity of the northeast sector of the Lana-Corina-Laura mineralised zone with multiple high-priority targets identified in the ground magnetic survey analogous to the T3 target over an approximately 1000-metre strike.”
Hole four intersected an underground void and the hole was stopped to be assayed at the end of the program.
Hole six has also been completed while hole seven will be drilled in an area south of the previously reported results.
Shares in Culpeo were up 82.5 per cent on the market and were trading at 36.5 cents at 11:34 am AEST.
