Culpeo Minerals drills through 173m of copper mineralisation at Lana Corina
A third drill hole at the Lana Corina project in Chile has intersected 173m at 1.05% copper for explorer Culpeo Minerals (ASX: CPO).
The core also contained an average 50 parts per million molybdenum, including an 85m interval grading 1,367ppm.
Mineralisation was intersected 313m from surface and remains open at depth.
The company said the broad zone of high-grade molybdenum mineralisation highlights the presence of a deeper mineralised source of the base metal system at the project and provides new targets for exploration.
Mineralised style not previously found at project
Culpeo managing director Max Tuesley said this third hole confirms that the high-grade copper and molybdenum mineralisation, which occurs within the near surface breccia hosted mineralisation at Lana Corina, extends to depth.
“The intersection of 173m of copper mineralisation at a grade of 1.05% copper is the highest-grade intercept to date from the ongoing drilling program,” he added.
Culpeo noted that the deeper high-grade intercept of molybdenum-rich mineralisation is particularly important as this style of mineralisation has not previously been intercepted at the project.
It highlights the potential for additional mineralisation to be located southwest of the main Lana-Corina-Laura ore zone.
New discovery zone acquired only 12 weeks ago
Culpeo acquired an 80% interest in Lana Corina in late March, and almost immediately began a maiden drilling program to test the high-grade copper which outcrops at surface.
Lana Corina is associated with a northeast trending structural zone with about 1,000m of strike, and which is up to 400m wide in places.
The initial 4,000m diamond drilling program comprises nine holes targeting breccia and porphyry hosted high-grade copper mineralised zones.
The first hole intersected 104m at 0.74% copper and 73ppm molybdenum (from 155m) and the second hole returned 257m at 0.95% copper and 81ppm molybdenum from 170m.
The company says “significant” potential exists to expand the mineralised zone with multiple targets that have been identified via a high resolution ground magnetics survey.