Culpeo Minerals Limited (ASX: CPO) has identified several anomalous zones with large footprints of up to 1,000m x 500m through recent induced polarisation geophysical surveys at the Quelon Project in Chile.
The zones are potentially related to iron-oxide-copper-gold (IOCG) style mineralisation and offer compelling targets for the company to pursue.
The completion of the surveys satisfies certain conditions of the Earn-In Agreement in respect of the Project resulting in the company acquiring an initial 10% interest.
Pursuant to the Agreement, Culpeo has the right to earn an 85% interest in the Project.
Highlights
▪ Several large anomalous zones identified by induced polarisation geophysical surveys at Quelon, potentially related to IOCG mineralisation.
▪ Anomalous zones have large footprints up to 1,000m x 500m and are supported by prior remote sensing and field mapping.
▪ Three zones represent compelling, high-priority drill targets.
▪ Follow-up work, including mapping and sampling, underway to refine drill targets.
▪ Culpeo has earned an initial 10% interest in the Project and has the right to earn an 85% interest
Culpeo Minerals’ Managing Director, Max Tuesley, commented:
“Following the recently completed PDIP survey at Quelon, Culpeo has successfully earned 10% interest in the Project,” Managing Director, Max Tuesley, said.
“The geophysical survey has identified several anomalous zones which have the potential to be related to IOCG-style mineralisation.
“Three of the zones are considered to offer compelling drill targets, which is an excellent result given the early stage of the Project.
“These results provide additional evidence of the prospectivity of Quelon to host significant copper-gold mineralisation and we are looking forward to commencing a maiden drill program at the Project during 2022.”
Quelon Geophysical Programme
Culpeo commissioned Quantec Geoscience South America to complete pole-dipole induced polarisation (PDIP) surveys at the Quelon Project during December 2021.
The survey was designed to follow-up preliminary prospecting and geophysical and remote sensing surveys undertaken by Culpeo.
Five NNE-SSW oriented PDIP survey lines were completed at the Anico Prospect, which is considered to be prospective for Cu-Au mineralisation.
The survey lines optimised coverage across a WNW-ESE striking trend characterised by a high magnetic response and a high-amplitude chargeability anomaly defined in a 2018 IP survey data.
A single E-W oriented PDIP survey line (L10370) was completed in this area to assess IP responses associated with the western portion of the magnetic anomaly high.
For further information please visit: https://www.culpeominerals.com.au/
