Culpeo Minerals (ASX:CPO) reports copper and gold rock chip results at Fortuna Project

Culpeo Minerals has reported new copper and gold rock chip sampling results from the El Quillay and La Florida prospects within its Fortuna Project in Chile, with the results being incorporated into ongoing mapping, sampling and drill targeting activities across the project area.

The sampling programme forms part of broader geological work being undertaken across areas that the company stated have seen limited systematic exploration.

Highlights

• At La Florida, 4 of 15 rock chip samples returned copper values greater than 1.0% Cu, with a peak result of 3.0% Cu approximately 1km west of the previously drilled area.
• At El Quillay, 2 samples returned assays greater than 1.0% Cu, with the highest result of 2.2% Cu.
• A gold result of 1.3g/t Au was returned from sample CPO0019643 at El Quillay.
• Results are being integrated with existing mapping, trenching, geochemical and geophysical datasets ahead of planned drilling at the project.
• The programme comprised 22 rock chip samples collected as part of a broader geological mapping programme.

The work was undertaken as part of a geological mapping programme across the Fortuna Project, where 22 rock chip samples were collected and analysed for a suite of 26 elements.

According to the company, the programme was completed across areas that have had limited systematic exploration, with the results supporting target generation across the Fortuna Project.

At La Florida, 4 of the 15 samples assayed returned copper values greater than 1.0% Cu, with the strongest result of 3.0% Cu, which Culpeo reported was collected approximately 1km west of the previously drilled area and outside the area covered by earlier drilling.

The company stated that follow up field work is planned to determine the significance of the anomalous results and assess whether they represent a potential extension of the La Florida mineralised system or a new target area.

The El Quillay prospects are located within the Fortuna Project and have had limited historic drilling despite the presence of multiple copper-gold targets identified through surface mapping and sampling.

Seven rock chip samples were collected in the northern part of the area, with 2 samples returning assays greater than 1.0% Cu, including a peak result of 2.2% Cu.

Culpeo reported that these results are located approximately 1km north-east of several lines of anomalous results identified in historical trenching, while a best gold result of 1.3g/t Au was returned from a sample located approximately 1km east of the reported copper results.

Several other prospects are located on the El Quillay Fault Zone, which the company described as a mineralised structure with multiple zones of surface mineralisation over 3km of strike.

Culpeo stated that the structure has a strong correlation with a demagnetised magnetic corridor, while recent mapping and rock chip sampling observed associations with brecciation, intrusive activity, alteration and surface geochemical anomalism.

Culpeo Interim Executive Chair Geoff McNamara said the latest work formed part of the company’s ongoing drill targeting programme across Fortuna.

“The results at La Florida are significant, with a 3.0% Cu rock chip sample collected approximately 1km west of the previously drilled area which may represent an extension to the known La Florida mineralised system or a new target area.”

The Fortuna Project comprises 21 exploitation concessions covering approximately 1,775 hectares, with Culpeo holding agreements in place to earn up to 80%.

The company stated that results from the current programme are being integrated with existing mapping, trenching, geochemical and geophysical datasets ahead of planned drilling at the project.

Further mapping and sampling will be completed across the El Quillay area with a view to generating drill targets, while ongoing exploration activities continue across both the El Quillay and La Florida prospects.

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