Culpeo Minerals Quarterly Activities Report - High-Grade Copper Discoveries
CULPEO MINERALS LIMITED (CPO) Share Update July 2024 Tuesday 30th
Culpeo Minerals Reports Significant High-Grade Copper Discoveries
Culpeo Minerals Limited (ASX:CPO, OTCQB:CPORF) has reported significant high-grade copper intersections at its Lana Corina and Fortuna projects for the quarter ended 30 June 2024. The company continues to expand its exploration activities, revealing promising results that could enhance its position in the copper market.
Instant Summary:
- Lana Corina Project: Diamond drilling returned a high-grade intersection of 298m of 0.98% CuEq.
- Subsequent assays increased the mineralized interval to 454m @ 0.93% CuEq.
- Reconnaissance rock-chip sampling at Vista Montana returned high-grade mineralization of up to 2.62% Cu.
- Fortuna Project: Additional targets identified at El Quillay West.
- Reconnaissance drilling at Vaca Muerta and El Quillay North intersected multiple zones of shallow, high-grade copper mineralization.
Lana Corina Project
The Lana Corina Project, located in the coastal belt of Chile, approximately 350km north of Santiago, has shown promising results. Diamond drilling at Lana Corina returned a long, high-grade intersection from near-surface of 298m of 0.98% CuEq in hole CMLCD014. Subsequent assays further increased the mineralized interval to 454m @ 0.93% CuEq from 90m. Notable copper equivalent results include 78m @ 1.24% CuEq from 200m, 68m @ 1.14% CuEq from 320m, and 40m @ 1.20% CuEq from 394m.
Drilling is ongoing in CMLCD014, reaching a current depth of 870m, with assays outstanding for a further 96m and results expected in the coming weeks. The mineralized zone encountered in CMLCD014 has expanded to a projected surface footprint of 600m x 400m and to a depth of 800m, remaining open in all directions.
Vista Montana
Results from reconnaissance rock-chip sampling at Vista Montana returned high-grade mineralization of up to 2.62% Cu, defining an area of anomalous copper 1km-long by 400m wide. This discovery highlights the potential for further high-grade copper mineralization in the region.
Fortuna Project
At the Fortuna Project, remodeling of geophysical data identified additional targets at El Quillay West, enhancing the exploration opportunity within the 4,025-hectare area. The El Quillay West target demonstrates potential to host additional zones of mineralization 500m to the southwest of the main El Quillay Fault Zone.
Reconnaissance drilling at the Vaca Muerta and El Quillay North targets intersected multiple zones of shallow, high-grade copper mineralization. Notable intersections include 13.3m @ 0.59% CuEq from 20m (El Quillay North), 4m @ 0.65% CuEq from 45m (Vaca Muerta), 7m @ 0.67% CuEq from 55m, including 1m @ 2.19% CuEq (Vaca Muerta), and 2m @ 1.33% CuEq from 95m (Vaca Muerta).
Operating Activities
Drilling activity during the quarter focused on exploration at the Lana Corina Project, targeting extensions of broad zones of high-grade copper, gold, silver, and molybdenum mineralization within a >3km prospective mineralized corridor that links Lana Corina to Vista Montana. The remaining results from reconnaissance drilling at the Fortuna Project were also returned, where high-grade mineralization was encountered at Vaca Muerta and El Quillay North.
The significant high-grade copper discoveries at both the Lana Corina and Fortuna projects are likely to positively impact Culpeo Minerals' stock. These findings not only enhance the company's resource base but also increase its attractiveness to investors looking for high-grade copper assets. The ongoing drilling and potential for further discoveries add to the positive outlook.
Investor Reaction:
Analysts are likely to react positively to the high-grade copper intersections, as they indicate substantial resource potential. The continued expansion of mineralized zones and the identification of new targets at the Fortuna Project further bolster investor confidence in Culpeo Minerals' exploration strategy.
Conclusion:
Investors should keep a close watch on Culpeo Minerals as the company continues to report promising exploration results. The high-grade copper discoveries at Lana Corina and Fortuna projects highlight the potential for significant resource expansion. Investors are encouraged to monitor upcoming assay results and the company's strategic developments.