Culpeo Minerals Unveils High-Grade Copper Discoveries at El Quillay West
CPO (CPO) Share Update September 2024 Tuesday 17th
Culpeo Minerals Announces Promising Copper Findings at El Quillay West
Culpeo Minerals Limited (ASX:CPO, OTCQB:CPORF) has announced significant copper findings from its first pass surface sampling at the El Quillay West Prospect within the Fortuna Project in Chile.
Instant Summary:
- Outcropping copper mineralisation confirmed over a 1,000m by 500m trend.
- High-grade copper assays up to 1.83% Cu from rock chips.
- Systematic trenching underway at El Quillay South.
- Preparations for drilling at Vista Montana Prospect in progress.
Exciting Copper Discoveries
Culpeo Minerals Limited has reported positive results from its initial surface sampling at the El Quillay West Prospect within the Fortuna Project in Chile. The company identified a significant new mineralised trend, with rock chip samples returning high-grade copper assays of up to 1.83% Cu. This discovery aligns closely with previously identified chargeability anomalies, confirming the prospectivity of the area.
The sampling results revealed outcropping copper mineralisation over a 1,000m by 500m trend. Notably, three samples returned assays greater than 1% copper, with the highest grade reaching 1.83% Cu. This strong correlation between the geophysical anomalies and the copper mineralisation highlights the potential of the El Quillay West Prospect.
Ongoing Exploration Efforts
Active exploration continues at the Fortuna Project, with systematic trenching underway at El Quillay South. The trenching program aims to define the overall size and orientation of the recently identified mineralised zones and establish drill targets. Additionally, site clearance and drill contractor selection for drilling at the Vista Montana Prospect are well advanced.
Managing Director Max Tuesley commented on the encouraging results, stating, 'These results are encouraging given they are coincident with the previously identified chargeability targets at El Quillay West and further reveal the mineralisation potential of the large land package we hold at the Fortuna Project.'
Geological Context and Future Plans
The mineralisation at El Quillay West is hosted within andesitic volcanics and is associated with significant alteration, including chlorite, epidote, albite, and magnetite. The area is interpreted to represent a new mineralised parallel structure due to its proximity to the main mineralised El Quillay host structure.
Mapping at El Quillay South has extended the mineralisation by a further 1,000m, bringing the total strike length to over 2,000m. The trenching program at El Quillay South includes 1,500m of trenching to follow up on historic sampling, which included widths of up to 43.1m @ 1.00% Cu and 1.31g/t Au.
Culpeo Minerals continues to advance its exploration activities across its key projects, with ongoing trenching at El Quillay South, a litho-geochemistry survey at La Florida, site clearance and drill contractor selection for the Vista Montana Prospect, and reconnaissance exploration of high-priority areas at the Fortuna Project.
The promising copper findings at El Quillay West are likely to have a positive impact on Culpeo Minerals' stock as investors react to the high-grade assays and the potential for further discoveries. The systematic exploration efforts and the strong correlation between geophysical anomalies and copper mineralisation enhance the project's attractiveness and could drive investor confidence.
Investor Reaction:
Analysts are expected to react positively to the high-grade copper assays and the systematic exploration approach. The potential for further discoveries at the Fortuna Project, coupled with the ongoing trenching and drilling preparations, positions Culpeo Minerals as a promising player in the copper exploration sector.
Conclusion:
Investors should closely monitor Culpeo Minerals' updates on the Fortuna Project and consider the potential long-term benefits of the high-grade copper discoveries. The company's strategic exploration efforts and the promising results from El Quillay West highlight its potential for future growth and value creation.