October 2, 2022

Culpeo Minerals (ASX:CPO) shares surge as visible copper is visible in Lana Corina’s first drill hole – The Market Herald

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  • Culpeo Minerals (CPO) begins drilling on its Lana Corina project in Chile and has already intersected copper sulphide visible over 200 meters in the first drill hole
  • Drilling at the project includes eight holes for a total of 4,000m, with program assay results expected in six weeks
  • The drill program aims to confirm and define areas of known copper mineralization that have significant historic drill intersections
  • Earlier this month, Culpeo Minerals reached an agreement to buy an 80% stake in Lana Corina
  • Shares soared 196%, trading at 37 cents

Shares of Culpeo Minerals (CPO) soared after reporting visible copper sulphide mineralization in the early stages of drilling at its Lana Corina project in Chile.

Copper sulphide was intersected in the first hole from 50 to 250 meters.

Drilling at the project includes eight holes for a total of 4,000m, with program assay results expected in six weeks.

The drill program aims to confirm and define areas of known copper mineralization that have significant historic drill intersections including 70 meters at 1.23% copper from 0 meters and 154 meters at 0.70% of copper.

Core of the first drill hole. Source: Culpeo Minerals.

Earlier this month, Culpeo Minerals reached an agreement to buy an 80% stake in Lana Corina.

Lana Corina is located in the coastal region of Coquimbo in Chile, about 350 km north of Santiago.

The project’s high-grade copper mineralization is associated with three known breccia pipes that extend to a vertical depth of over 200 metres.

“We are excited about the intersection of significant amounts of copper sulphides in this first hole. This reinforces confidence in the prospectivity of Lana Corina and its potential to host a large copper deposit,” said Managing Director Max Tuesley.

“We look forward to releasing assay results from the drill program in due course and view Lana Corina as a key part of our high quality copper portfolio in Chile.”

In the market, shares of Culpeo Minerals jumped 196% and were trading at 37 cents at 11:37 a.m. AEDT.