A recent high-resolution ground magnetic survey at Culpeo Minerals’ (ASX: CPO) Lana Corina copper project in Chile has identified approximately 13 new and untested geophysical targets.
The targets are analogous to known copper mineralisation at the project, where recent drilling intersected 257m at 0.95% copper and 81 parts per million molybdenum.
Completed in April by Quantec Geoscience, the survey was designed to delineate a magnetite alteration zone peripheral to known mineralisation at Lana Corina, with the aim of identifying additional breccia pipe targets for drill testing.
Magnetite alteration is considered to be associated with the outer zone of known porphyry-hosted copper mineralisation at the project.
The survey identified 13 high-priority targets of low magnetic response within a belt of predominantly magnetic high response, indicating potential destruction of magnetism typically associated with porphyry intrusion processes and the formation of breccia pipes and associated copper mineralisation.
The targets are believed to share strong geophysical similarities to the Lana-Corina-Laura prospect, where recent drilling returned the 257m intercept and 104m at 0.74% copper and 73ppm molybdenum from 155m.
Culpeo managing director Max Tuesley said the company was pleased with the survey outcomes.
“Our first program of ground-based geophysics has delivered very encouraging results,” he said.
“The targets [identified] are located within clear structural trends and have associated elevated surface geochemical signatures, making them compelling prospects for drill testing.”
Mr Tuesley said ground magnetic and geochemical datasets, together with 3D modelling, would be used to prioritise the targets for drilling, which will commence once the company’s current nine hole program is finished.
Earlier this month, Culpeo reported its widest mineralised intercept to date from the second hole of the nine hole program.
The 257m intercept grading 0.95% copper and 81ppm molybdenum (from 170m to 427m) is the widest zone the company has hit and complemented the previously mentioned assay of 104m at 0.74% copper and 73ppm molybdenum.
Both results are believed to validate a geological model that Lana Corina has considerable size and grade, and highlights its exploration potential.