Culpeo Minerals Limited (ASX:CPO) has unveiled multiple new geophysical targets from a detailed ground magnetic survey completed at the company’s Lana Corina Project in Chile.
These targets have not been previously tested and are analogous to known copper mineralisation at the Project, where recent drilling has yielded intersections of 257m @ 0.95% Cu and 81ppm Mo.
Highlights:
- High resolution ground magnetic survey completed over the Lana Corina Project
- 13 high priority targets identified over an area of 800m by 1,000m
- Targets share strong geophysical similarities to Lana-Corina-Laura Prospect, where recent drilling has returned: o 257m @ 0.95% Cu, 81ppm Mo from 170m ; and o 104m @ 0.74% Cu, 73ppm Mo from 155m .
- Targets co-incident with elevated Cu values in surface geochemical surveys
- Drilling currently being planned to test these new high priority targets
“Our first programme of ground-based geophysics has delivered very encouraging results, with the survey identifying 13 new targets that are analogous to the Lana-Corina-Laura Prospect which has produced significant copper drill intersections in recent programmes,” Managing Director, Max Tuesley, said.
“The targets are located within clear structural trends and have associated elevated surface geochemical signatures, making them compelling targets for drill testing.”
Ground Magnetic Survey
During April 2022 the Company engaged Quantec Geoscience to conduct a ground-based magnetic survey designed to delineate the magnetite alteration zone peripheral to the known mineralisation at Lana Corina with the aim of identifying additional breccia pipe targets for drill testing.
Magnetite alteration has been identified at Lana Corina as being associated with the outer zone of known porphyry hosted copper mineralisation. This survey covered 3.8 sq. km with geophysical data being collected over 150 line km at a 25m line spacing.
Interpretation of the ground magnetic survey combined with a measure of the magnetic susceptibility along existing drill core from the Lana-Corina-Laura Prospect has shown that mineralisation at the Project is located within areas of low magnetic response (de-magnetised zones).
The high-resolution magnetic data from this recent survey has enabled Culpeo to significantly advance its interpretation of the subsurface geology and the definition of areas where the magnetic minerals in the host rock may have been altered by the mineralisation processes.
The survey has successfully identified 13 target areas 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.
Several of the targets identified have dimensions two to three times the size of the breccia pipes discovered to date. The results of the survey have been integrated with historical surface geochemical data, clearly showing the relationship between the newly defined targets and the areas of anomalous copper geochemistry at surface.
Next Steps
Exploration and Drilling Activities The combined ground magnetic and geochemical datasets will be used to rank the 13 identified targets and 3D modelling of the data will be completed to prioritise drilling of these new targets. This drilling will commence once the current nine hole programme is finished.
For further information please visit: https://www.culpeominerals.com.au/
