Culpeo Minerals (ASX:CPO) defines high priority copper targets ahead of drilling at La Florida Prospect

Culpeo Minerals is progressing exploration across its highly prospective Chilean portfolio, with its latest update highlighting multiple new copper targets at the La Florida Prospect, part of the Fortuna Project.

These targets exhibit characteristics consistent with Iron Oxide Copper Gold (IOCG) and porphyry copper and gold style mineralisation.

With trenching already underway and diamond drilling scheduled to begin in July 2025, the company is advancing a well funded and tightly executed exploration strategy.

In this Q&A, Interim Executive Chairman Geoff McNamara shares insight into the geological significance of the new targets, how they align with Culpeo’s broader portfolio, and what investors can expect over the coming months.

What makes the newly identified targets at La Florida significant?

Culpeo’s latest work at La Florida has revealed alteration zones and geochemical patterns typical of large copper systems.

These findings are underpinned by historical surface sampling, including grades of up to 3.96 percent copper and 2.61 grams per tonne gold, which reinforce the area’s potential.

“New Iron Oxide Copper Gold (IOCG) and porphyry targets have been identified at the La Florida Prospect, exhibiting well defined alteration and geochemical zonation associated with copper mineralisation.”

How does La Florida compare to the company’s other assets in Chile?

La Florida is strategically located 10 kilometres north of the Lana Corina Project, where Culpeo has already established a significant copper and molybdenum system.

The proximity between the two projects allows for shared infrastructure and a consistent technical approach, while increasing the potential for scale.

Culpeo’s best intercepts at Lana Corina include 454 metres at 0.93% CuEq from 90 metres, with several higher grade intervals.

Early indicators suggest La Florida could follow a similar geological trend.

What is the current status of drilling preparation?

Trenching is well advanced, with 225 metres completed across northern and southern zones at La Florida.

This data is being used to refine drill collar placement, while earthworks such as pad construction and site access upgrades are underway.

“Drilling is due to commence in July.”

What can investors expect over the next few months?

Assay results from the trenching program are expected within four to six weeks, which will inform the placement of initial diamond drill holes.

Following the La Florida program, Culpeo will transition directly to drilling at Vista Montana, part of the Lana Corina Project.

The back to back campaigns are expected to generate consistent exploration milestones in the second half of 2025.

How is Culpeo funding its upcoming exploration activities?

The exploration work at both La Florida and Vista Montana is fully funded.

Culpeo expects to receive the final committed funds from a $3.02 million equity raise in July, subject to shareholder approval.

The raise has been strongly supported by shareholders aligned with the company’s high-grade copper strategy in a well established mining jurisdiction.

“Drilling is fully funded upon receipt of final committed funds from a $3.02 million equity raise in July 2025, subject to shareholder approval.”

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