Culpeo Minerals Limited (ASX:CPO) has entered into an agreement to acquire the Lana Corina Copper Project in Chile from SCM Antares.
. Lana Corina is a high-grade copper project, hosting multiple outcropping copper bearing breccia pipes associated with a well mineralised porphyry intrusive. The Project is located 40km north of the Company’s Quelon Project in the coastal Coquimbo region of Chile.
Highlights
- Culpeo has the right to acquire an 80% interest in the Lana Corina Copper Project.
- Lana Corina covers 5.5 sq. km and is located in a prolific Chilean copper belt.
- ▪ Historic mine production at Lana Corina of approximately 1Mt of 1.5% to 2.5% Cu.
- ▪ Lana Corina is a porphyry copper system with associated outcropping high-grade copper bearing breccia pipes above a copper bearing porphyry intrusive, refer Figure 1.
- Previous drilling intercepts included:
- 70m @ 1.23% Cu from 0m in COR-2 (underground, breccia intercept);
- 154m @ 0.70% Cu from 0m in LC-1 (underground, breccia intercept);
- 132m @ 0.56% Cu and 51ppm Mo from 324m in LCO-1 (surface, porphyry intercept);
- 178m @ 0.72% Cu and 284ppm Mo from 356m in LCO-2 (surface, porphyry intercept);
- 80m @ 0.67% Cu from 0m in Lan-1 (underground, breccia intercept); and
- 207m @ 0.41% Cu and 124ppm Mo from 274m in LCD-13 (surface porphyry intercept).
- Previous underground wall sampling results include: 12m @ 2.49% Cu and 20m @ 2.04% Cu;
- Systematic drilling program to commence immediately to delineate near surface copper mineralisation and extend mineralisation to the south and at depth.
Managing Director, Max Tuesley, said the Lana Corina Copper Project will complement Culpeo’s existing highly prospective portfolio of projects in the Coastal Cordillera of Chile.
“Lana Corina is an exciting opportunity for Culpeo to rapidly delineate and define a high-grade copper resource in the Coastal Cordillera of Chile. Lana Corina offers a de-risked copper exploration project at low altitude, with excellent access to infrastructure. The Project is drill ready and we look forward to commencing drilling in the coming days,” Mr Tuesley said.
Lana Corina Project
Lana Corina is located in the coastal belt, Coquimbo region of Chile, approximately 350km north of Santiago. The village of Soruco is located 2km north of the site and the town of Combarbala is 18km to the south. The Project is 50km from the Pacific Ocean
Lana Corina is in a prolific copper belt hosting multiple major deposits including Los Pelambres (6.1Bt @ 0.51% Cu, 0.016% Mo and 0.06g/t Au3), Andacollo (250 Mt @ 0.62% Cu and 0.25g/t Au4) and El Espino (123Mt @ 0.66% Cu and 0.24g/t Au5).
Lana Corina is associated within a structural zone oriented in a northeast-southwest direction with >1,000m of strike and up to 400m width.
High grade copper mineralisation at Lana Corina is associated with three known breccia pipes occurring in the upper levels of a large copper bearing porphyry system. The high-grade breccia pipes.
For further information please visit: https://www.culpeominerals.com.au/
