Culpeo Minerals Limited (ASX: CPO) has delineated a copper and gold mineralised zone extending over a 1km strike length in surface sampling and mapping conducted at the large scale Quelon Project in Chile.
Highlights
- Surface sampling and mapping at the Quelon Project in Chile has confirmed high-grade copper mineralisation over a 1km strike length.
- Copper grades of up to 1.30% Cu and 4.1g/t Au returned from sampling programme.
- A large disseminated outcropping copper zone has been identified adjacent to the previously defined induced polarisation (IP) target.
- Trenching is planned over the coming weeks, prior to drilling
“While Culpeo’s primary focus is the exciting Lana Corina Project, we are encouraged by preliminary exploration results at our Quelon Project, demonstrating the depth of the company’s growth pipeline,” Managing Director, Max Tuesley, said.
“The widespread visual presence of copper mineralisation at the Anico Prospect and discovery of historical mine workings support the recently defined IP anomalies.
“We will now undertake a trenching program over the 1km strike length zone to gain greater insights on the copper mineralisation potential of the prospect.”
Anico Prospect Mapping & Geophysical Program Culpeo’s geological team has established a correlation between high-grade copper values and coincident geophysical anomalies at the Anico Prospect.
The recently completed mapping program has discovered a large surface outcrop of oxide mineralisation with several samples returning grades greater than 1% Cu and up to 4.1g/t Au, as well as locating several historic mine workings in the area, confirming the exploration potential of the district. A total of 56 samples were taken and the mapping program covered an area of three sq. km.
The Anico Prospect is considered to have significant prospectivity for iron-oxide-copper-gold (IOCG) or porphyry style mineralisation due to the elevated chargeability anomalies, its proximity to magnetic highs and mapped alteration in outcrop.
The newly discovered copper and gold mineralisation on surface is coincident with the Anico geophysical anomaly, giving further evidence to a deeper mineralised body at the prospect.
Five north north-east by south south-west oriented pole-dipole induced polarisation (PDIP) survey lines were completed at the Anico Prospect, targeting a west north-west by east south-east striking trend which had been identified by a high magnetic and high-amplitude chargeability response in a historical induced polarisation (IP) survey.
A single east-west oriented PDIP survey line (L10370) was completed in this area to assess IP responses associated with the western portion of the magnetic anomaly high. Detailed field mapping of key prospect and PDIP target areas has now been completed, with trenching and drill hole planning to follow.
The company is optimistic about the potential of the copper and gold exploration target that has been identified at the Anico Prospect and with further exploration planned in the coming weeks, we look forward to providing progress updates.
For further information please visit: https://www.culpeominerals.com.au/
