Announcement Date: 2022-05-11
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Culpeo Minerals Ltd.
Project name: Lana Corina
Location: Chile
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: Drilling results incl. 257m @ 0.95% Cu, 81ppm Mo, 3.7g/t Ag, 0.02g/t Au from 170m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Culpeo Minerals Limited (Culpeo or the Company) (ASX:CPO) is pleased to report a further significant copper and molybdenum intercept of 257m @ 0.95% Cu and 81ppm Mo from the ongoing diamond drilling program at its Lana Corina Project (Lana Corina or the Project) in Chile. This significant intersection validates Culpeo’s geologic model and highlights the exploration potential of the Project. Immediately after securing rights for up to 80% of the Project, Culpeo began a maiden drilling program (Figure 2) at Lana Corina to test high-grade copper mineralisation which outcrops at surface. Lana Corina is associated with a structural zone orientated in a northeast-southwest direction with >1,000m of strike and up to 400m wide. The initial 4,000m diamond drilling program comprises 9 holes targeting breccia and porphyry hosted high-grade copper mineralised zones. Assay results have now been reported for diamond drillholes CMLCD001 and CMLCD002; both of which have returned significant copper grades over wide intervals. The mineralisation encountered in CMLCD002 is associated with a considerably wide zone of breccia at the top of the hole and with diorite hosted vein and disseminated mineralisation deeper in the hole. Molybdenite occurs as disseminations as well as with cross-cutting quartz-sulphide veins.
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