Culpeo Minerals confirms copper mineralisation over 500m strike at Las Petacas

Culpeo Minerals ASX CPO Las Petacas Chile drlling copper strike mineralisation
All six holes drilled at Las Petacas to-date contain visible copper mineralisation with assays due later this month.

Drilling at the Las Petacas project in Chile has confirmed a 500 metre strike length of copper mineralisation for owner Culpeo Minerals (ASX: CPO).

Six diamond holes have now been completed for a total 2,052m and the seventh is underway.

Three holes were drilled into the Peta 1 prospect close to significant historical trench assay results and three targeted anomalies previously defined at the Diego prospect.

To date, all holes have intercepted variable widths of visible copper mineralisation presenting as copper oxide and sulphide minerals, with results from Peta 1 confirming visual copper mineralisation over 500m of strike and up to 200m of depth.

Geological mapping of the area has also identified extensive outcropping copper mineralisation over a strike length of 50m and up to 20m wide.

Culpeo has submitted four holes to ALS Laboratories for analysis of copper and gold and initial results are expected next month.

Encouraging results

Managing director Max Tuesley said the results were encouraging.

“The occurrence of oxide copper minerals such as malachite and chrysocolla at shallow levels, transitioning into chalcocite and chalcopyrite at depth is very promising, suggesting a large mineralised system which is open along strike and at depth,” he said.

“The completion of geological surveys at Diego will enable us to refine our ongoing drill program and explore recently identified targets for drilling in early 2022.”

Mr Tuesley said the local council authority of Copiapo city would upgrade the Las Petacas access road and link it to the main Pan-American highway as a demonstration of support for the project.

PDIP survey

Culpeo has completed five new lines for a total 9 line-kilometres as part of an ongoing dipole-pole (PDIP) survey at Las Petacas to follow-up high-amplitude gradient array induced polarisation (GAIP) chargeability and conductivity anomalies identifed in October.

The survey has identified new targets at the Diego East and Far East prospects and a deeper target at the Pedro prospect.

None of them have been historically drill tested.

A ground-magnetic survey has also been completed over the Diego prospect and identified two magnetic anomalies possibly associated with magnetite alteration which is known to be commonly related to iron oxide copper-gold (IOCG) systems in the district.

Culpeo said the anomalies are yet to be tested with drilling and geological interpretation.

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