Culpeo Minerals Limited (ASX:CPO) has obtained positive results from first four drillholes of the initial drill programme at the Las Petacas Copper Project in northern Chile.
All of the holes have intersected variable widths of visible copper mineralisation. The company notes this is based on a visual inspection only and the core sample is yet to be assayed or analysed.
▪ Drill hole CMPDD004 has intersected visible copper mineralisation hosted in a broad zone of
skarn/breccia at the Peta 1 Prospect
▪ Copper and gold assay results are expected in the next four weeks, with multi-element chemistry
results to follow.
▪ Drilling is ongoing with a further eight holes planned.
▪ Geophysical surveys continue at Las Petacas with results expected in early December 2021.
“It is very pleasing to intersect visible copper mineralisation in all of the drillholes completed to date at Las Petacas,” Managing Director, Max Tuesley, said.
“In particular, the width of mineralisation encountered in CMPDD004 is encouraging, especially given that it is hosted within a zone of strong brecciation and veining, displaying similarities to that documented at the nearby Candelaria deposit.
“We look forward to reporting these assay results when they are received in the next few weeks.”
Las Petacas Drilling Programme
Four diamond drillholes totalling 1,520m are now complete at Las Petacas and the fifth hole is underway. Samples from CMPDD003 and CMPDD004 have been dispatched to the laboratory for analysis.
The first three holes of the program targeted the previously defined co-incident gradient array induced polarisation (GAIP) and dipole-dipole induced polarisation (DDIP) anomaly at the Diego Prospect. All holes intersected variable widths of both skarn and breccia hosted mineralisation.
The fourth hole of the program CMPDD004 was collared in the hanging wall of an outcropping skarn zone at the Peta 1 Prospect where surface geochemistry and historic drilling had returned copper grades up to 1.02% Cu over 10m.
The Peta 1 Prospect has been the subject of historical small-scale artisanal mining (Figure 4). Geological mapping recently completed by Culpeo suggests a north-west dip to the Peta 1 mineralised zone.
Historical drilling in the south of the prospect may have not intersected the main mineralization, having collared in the footwall of the copper mineralisation.
For further information please visit: https://www.culpeominerals.com.au/
