A new target ‘El Quillay West’ has been defined at the Fortuna copper project, confirming Culpeo’s belief that a large system exists. Pic via Getty Images
Mining
Special Report: Chilean copper explorer Culpeo Minerals has found a possible new third zone of copper within the 3km-long El Quillay trend at its Fortuna project, opening the door to drill testing later this year.
Culpeo Minerals (ASX:CPO) acquired an 80% interest in the Fortuna Project in August 2023, increasing its copper exploration landholdings by 300%, located approximately 10km north of its Lana Corina Project.
In a further expansion two months later, CPO secured another 22.5km2 to its landholding. These new tenements exhibit a lithological and structural setting similar to the known copper occurrences at Fortuna, where evidence of historic mining operations is scattered throughout the project area.
Although it hosts multiple zones of copper mineralisation, over a strike length of 6km, the Fortuna Project has undergone limited previous exploration across its four key prospect areas (La Florida, El Quillay, Vaca Muerta and Piedra Dura).
Currently, Culpeo’s main exploration focus is El Quillay, a sizeable copper prospect which lies within a 3km long regional fault zone in an area previously mined by both open cut and underground mining.
Geophysical data modelling has now identified four chargeability anomalies indicative of copper sulphide mineralisation, including one with a large footprint of 500m x 300m to the west of the El Quillay Fault Zone.
This new ‘El Quillay West’ target, highlights the potential for an additional zone of mineralisation adjacent to that which is hosted within the El Quillay Fault Zone.
“This confirms our belief that a much larger mineralised system exists at El Quillay than previously recognised,” CPO managing director Max Tuesley said.
“We look forward to drill testing these targets during 2024.”
Various key activities are planned to take place during the next few months, including ground-based site reconnaissance of priority areas and drilling of new breccia targets at Lana Corina.
Upcoming drilling will test the lateral and depth extensions of mineralisation within multiple structures close to the El Quillay Fault Zone.
The results from laboratory analysis of samples from the litho-geochemical survey undertaken at the La Florida target are expected to be returned within the coming weeks.
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.
