Culpeo Minerals Limited (ASX:CPO) continues to intersect visual copper mineralisation in all holes in its ongoing exploration programmes in Chile.
The Las Petacas drilling programme continues with six holes completed to date for 2,052m. Geophysical surveys have now been finalised over the project area, with data currently being processed and results to become available by mid-December 2021.
“We are encouraged with the amount of visual copper mineralisation being intersected by our drilling program at Las Petacas,” Managing Director, Max Tuesley, said.
“The occurrence of oxide copper minerals such as malachite and chrysocolla at shallow levels, transitioning into chalcocite and chalcopyrite at depth is very promising, suggesting a large mineralised system that is open along strike and at depth.
“The completion of the PDIP survey as well as the ground-mag survey at Diego will enable us to refine our ongoing drill program and explore recently identified targets. The company looks forward to drilling these additional prospects in early 2022.”
Las Petacas Drilling Programme
Six diamond drillholes totalling 2,052m are now complete at Las Petacas and the seventh hole is underway.
Three holes have been completed on the Peta 1 Prospect, where significant trench assay results were returned historically and three holes have targeted anomalies previously defined at Diego.
To date all holes have intercepted variable widths of visible copper mineralisation present as copper oxide and sulphide minerals with drilling at the Peta 1 Prospect confirming visual copper mineralisation over 500m of strike and up to 200m of depth.
Drill pad preparation is ongoing for hole CMPDD008 at Peta 1, geological mapping of the area has identified extensive outcropping copper mineralisation over a strike length of 50m and up to 20m wide. The company has submitted four holes to ALS Laboratories for analysis of copper and gold and initial results are expected in mid-December 2021.
. As a demonstration of support for the project, the local council authority of Copiapo City has instigated the upgrade of the main access road to the Las Petacas Property. This work will link the project site to the Pan-American highway, a distance of 12km.
Las Petacas PDIP and Ground-Mag Survey
The company has expanded the PDIP geophysical survey coverage at Las Petacas1 with a programme of five new PDIP survey lines completed, for a total of 9 line-kms.
This survey follows-up the high amplitude Gradient Array IP (GAIP) chargeability and conductivity anomalies previously identified. This survey has identified new targets at the Diego East, Far East and a deeper target at the Pedro Prospect.
Historical drilling has not tested any of these targets and geological mapping is underway prior to drill hole design. A ground-magnetic survey has also been completed over the Diego Prospect, where two magnetic anomalies have been identified, possibly associated with magnetite alteration, commonly associated with Iron Oxide Copper-Gold (IOCG) systems in the district. These anomalies have yet to be tested with drilling, both anomalies are over several hundreds of metres in length and geological interpretation is ongoing.
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