The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Culpeo Minerals (CPO) begins a phase two drilling program at its Lana Corina project in Chile
  • The program will include nine to 10 holes to extend mineralisation discovered in phase one drilling, which returned 257 metres at 0.95 per cent copper and 81 ppm molybdenum
  • This drilling also aims to test high-priority targets generated from mapping and geophysical work
  • Managing Director Max Tuesley says this program has the potential to “materially increase the size of the Lana Corina copper mineralised system”
  • Company shares are up 4.17 per cent to 12.5 cents at 3:19 pm AEDT

Culpeo Minerals (CPO) has begun a phase two drilling program at its Lana Corina project in Chile.

This second program is expected to include nine to 10 holes for 5000 metres. It aims to extend mineralisation discovered in a phase one drilling program at the project as well as drill test new, high-priority district targets.

Previous drilling at Lana Corina uncovered “significant” copper mineralisation, including the presence of outcropping breccia pipes and a deeper porphyry-related mineral system.

Highlighted phase one results include 257 metres at 0.95 per cent copper and 81 parts per million (ppm) molybdenum from 170 metres and 89 metres at 1.06 per cent copper and 145 ppm molybdenum from 302.1 metres.

Managing Director Max Tuesley said the phase two drilling aimed to double the size of the mineralised footprint defined in phase one.

“This program has the potential to materially increase the size of the Lana Corina copper mineralised system and demonstrate the exciting potential for Culpeo to continue to grow the project given the highly successful phase one results and the exciting targets we have delineated throughout the district,” Mr Tuesley said.

The footprint of the Lana Corina system is 500 metres by 400 metres and remains open at depth.

Culpeo shares were up 4.17 per cent to 12.5 cents at 3:19 pm AEDT.

CPO by the numbers
More From The Market Online
The Market Online Video

ASX Daily Close: ASX matches futures prediction on a green Friday | 21 June 2024

The ASX200 reversed its trend to end the week in the green, up 0.35%. Nearly all…
The Market Online Video

ASX Market Update: Stocks swing from green with energy to remorseful red | 21 June, 2024

The ASX200 came out the gate in the green on Friday, but slipped well below the red line within the first hour of

Week 25 Wrap: No RBA cut yet; India stocks shake off Modi jitters; China concerns remain

The RBA keeps rates on pause; Guzman Gomez falls nearly -5% on Friday; Droneshield's new ATH;…

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

The one defining feature of our post-COVID 'new normal' is a USA swing towards domestic supply…