Culpeo Minerals confirms extension of copper mineralisation at Lana Corina project
Culpeo Minerals expects assays within three weeks from the first hole drilled at Lana Corina that also hit visible copper sulphides.
Assays received from the seventh drillhole at Culpeo Minerals’ (ASX: CPO) Lana Corina project in Chile have extended the copper mineralisation by 100 metres below previous drilling.
The diamond hole returned multiple high-grade copper and molybdenum intersections to support the company’s exploration model that the Lana Corina mineralised system has substantial size and grade.
Individual assays showed grades of more than 2% copper and more than 400 parts per million molybdenum from deeper in the hole and are believed to be associated with strong potassic alteration.
The intersections extended the mineralised footprint for 100m to the southwest of the known outcropping breccia pipe mineralisation.
Additional vectors
Coupled with high-grade molybdenum mineralisation encountered in previous holes, the assays provide additional vectors to explore the deeper potential of the Lana Corina hydrothermal and magmatic ore system.
Best results from the seventh hole were 91.3m at 0.63% copper and 79ppm molybdenum from 458.4m, including 34.7m at 0.91% copper and 71ppm molybdenum from 515m; and 92.9m at 0.39% copper and 183ppm molybdenum from 276.1m.
Resource potential
Managing director Max Tuesley said Lana Corina’s strong grades at surface and at depth have expanded the project’s resource potential.
“These latest results strongly suggest a fertile magma is driving the mineral system at Lana Corina and its surrounds,” he said.
“Combined with our regional target generation work, we are confident that Lana Corina is a significant discovery, with confirmed depth and high-grade intercepts adding to the already defined near-surface breccia-hosted mineralisation.”
Testing breccia pipes
Diamond drilling continues to focus on testing the near surface breccia pipes at Lana Corina, with the eighth hole now completed and the ninth currently in progress.
It is positioned to the southwest of the seventh hole and targets an area south of the previously reported results from earlier drill holes including 104m at 0.74% copper and 73ppm molybdenum from 155m; 257m at 0.95% copper and 81ppm molybdenum from 170m; 173m at 1.05% copper and 50ppm molybdenum from 313m; and 81m at 1.06% copper and 145ppm molybdenum from 302m.
“Our increased understanding of copper mineralisation and geometry demonstrates that this project has strong potential to host large-scale, near surface, high-grade copper and molybdenum mineralisation,” Mr Tuesley said.