Culpeo Minerals surfaces thick copper-gold in Chile

Culpeo Minerals says surface trenching at the Fortuna project in Chile has returned 46m at 0.9% copper equivalent.

The Fortuna project is within the copper/gold Coquimbo region in Chile. Pic: via Getty Images

• Culpeo Minerals reports 46m at 0.9% copper equivalent at surface in Chile

• Company confident of potential strike extensions

• Surface trenching is ongoing at the prospect

Special Report: Culpeo Minerals’ surface trenching at the El Quillay South prospect, part of its Fortuna project in Chile, has returned thick copper and gold assays including 46m at 0.90% copper equivalent (CuEq).

The Fortuna project is in Chile’s Coquimbo region, renowned for its numerous world-class copper/gold mines such as Antofagasta’s monstrous Los Pelambres, which is expected to produce 335,000-350,000t of copper, 8,500-9,500t of molybdenum and 45,000-55,000oz of gold in 2024.

In copper metal terms, the deposit rivals BHP’s entire South Australian portfolio, giving a sense of the scale discoveries in the region can deliver.

The El Quillay structure has now been mapped over a strike length of > 3km, with historic sampling returning copper mineralisation with widths of up to 43.1m at 1.00% copper and 1.31g/t gold.

A further 1.5km of trenching is currently underway to define drill targets and extend mineralisation which is open in all directions, with results including:

• 46m at 0.90% CuEq
• 6m at 3.21% CuEq
• 20m at 0.51% CuEq
• 6m at 1.43% CuEq; and
• 3m at 1.72% CuEq

Trenching results returned from El Quillay South Prospect. Pic: Culpeo Minerals

Strike extent potential

The company is confident the results highlight the strike potential of the prospect.

“These results continue to demonstrate the exceptional potential of the Fortuna project,” Culpeo Minerals (ASX:CPO) managing director Max Tuesley said.

“The strong correlation of these trench results in combination with previously exploited mineralisation along the 3 km El Quillay structure demonstrates the significant strike extent of this well mineralised system.

“Trenching at El Quillay is ongoing, to rapidly define drill targets and extend mineralisation which is open to the south.”

Trenching at an andesite outcrop. Pic: Culpeo Minerals

In addition, the company has site clearance for upcoming drilling at the Vista Montana prospect underway, along with a litho-geochemistry survey at the La Florida prospect and reconnaissance exploration of high-priority areas within the Fortuna project.

This article was developed in collaboration with Culpeo Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.