First diamond hole at Culpeo’s Lana Corina pulls up colossal 298m copper hit

First diamond drill hole delivers huge 298m @ 0.98% CuEq intersection at Lana Corina
Drilling ongoing, with hole currently down to a depth of 700m
Breccia targets to be drilled at Lana Corina and Vista Montana

Special Report: Drill results from the first hole as part of a mineralisation extension program at Culpeo Minerals’ Lana Corina Project in Chile has returned a huge 298m @ 0.98% copper-molybdenum intersection.

Lana Corina contains high-grade copper associated with four known breccia pipes in the upper levels of a large, 3km-long copper porphyry system.

Culpeo Minerals (ASX:CPO) believes the geological setting of the Project is analogous to Teck Resources’ Carmen de Andacollo mine 80km away, which has reserves of 250Mt @ 0.62% copper and 0.25% gold.

Recently, rock chip samples defined an area of anomalous copper over 1km-long by 400m wide at the Vista Montana prospect, adding to project credentials.

Mineralisation extension program

Results from the first 388m of hole CMLCD014 has confirmed a copper-molybdenum intersection of 298m @ 0.98% CuEq from 90m at Lana Corina.

It also Includes two wide, higher-grade zones of 78m @ 1.24% CuEq from 200m; and 68m @ 1.14% CuEq from 320m.

It represents the longest, continuously mineralised intersection in the Project’s history and CPO says the consistency of the 298m breccia intersection supports the current geological model and demonstrates the potential to expand the scale of the near surface, high-grade breccia zone.

The drillhole is ongoing and seeks to test the potential for further porphyry-hosted copper mineralisation at depth – beyond the deeper identified molybdenum-rich zone.

A further 242m of core has been submitted for analysis, with results pending and currently, CMLCD014 has reached a downhole depth of 700m and counting.

Culpeo, Minerals, ASX, CPO, Chile, Lana, Corina, Copper, Intercept, Grade — Plan view of Lana Corina and the first diamond hole. Pic supplied: (CPO)

“This intersection is exceptional in terms of both length and grade, clearly demonstrating that the Lana Corina geological system is something very special,” CPO managing director Max Tuesley says.

“Results returned to date confirm the longest ever mineralised intersection at the project. Importantly, these results represent just the upper 388m of the hole.

“Drilling is ongoing with the hole currently at a downhole depth of 700m.

“The extensive and rich mineralisation intersected so far, supports our strategy that additional drilling will lead to substantial increases in the project’s scale.

“This is an exciting time for both our company and our shareholders, with what is emerging as a significant copper system in the Coastal Cordillera of Chile.”

2024 activities

Exploration is ongoing at both the Lana Corina, Vista Montana and Fortuna projects, including drilling of new breccia targets at Lana Corina and the continuation of drillhole CMLCD014.

CPO is also planning some recon work to prioritise areas for drilling at Vista Montana and Fortuna based on geophysical datasets.

This article was developed in collaboration with Culpeo Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.