CPO - Culpeo Minerals

[System]

Culpeo Minerals Limited is an Australian unlisted public company with interests in three copper and gold projects located in the tier one geological endowment and mining jurisdiction of Chile. The project names are Las Petacas, Quelon and San Sebastian.

Las Petacas Project

Culpeo owns 58% of the Las Petacas Project which is located in Chile, approximately 640 km north of the capital, Santiago and 35 km south of the regional capital of Copiapó in the Atacama Region. The project is located within the Cordillera de la Costa of Chile, approximately 10 km east of the Pan-American Highway and comprises 22 granted exploitation concessions covering approximately 1,406 Ha.

The project lies within the metamorphic aureole of the Lower Cretaceous magmatic arc plutonic complex that is located within the Candelaria-Punta del Cobre district. The Las Petacas Project is considered prospective for mineralisation generally referred to as iron-oxide-copper-gold (IOCG).

District scale geological mapping has been completed which shows extensive limestone mapped on surface and known copper mineralised trends related to veins and structures. Existing (historical) drillholes were focussed on the known prospect areas at the time but there remain large untested zones along the northeast-southwest oriented mineralised corridor containing these prospects.

Quelon Project

The Quelon Project is located 240 km north of Santiago and 20 km north of the regional centre of Illapel, in the Province of Illapel, Region of Coquimbo. Culpeo has the right to earn up to 85% of the project through certain commitments.

The project is located within the Cordillera de la Costa of Chile. The Cordillera de la Costa hosts numerous mineral deposit types, including skarn hosted copper and gold (related to intrusive rocks), copper porphyries, stratigraphic manto-type and vein hosted deposits of copper and gold. Numerous historical mine workings are present within the Quelon Project area.

The general distribution of the mineralisation/anomalism and the historical workings at Quelon trends over an area of 7 km by 3 km. These workings are associated with manto style mineralisation which dips from approximately 55° to 70°E. The known mineralisation varies in width from 1 m to 4 m and strike lengths may be greater than 100 m. Observed copper mineralisation in the existing workings includes malachite, atacamite and lesser chrysocolla. Copper grades of up to 3% have been recorded from rock chip sampling in the historical workings.

San Sebastian Project

Culpeo holds 100% of the San Sebastian Project which is located approximately 53 km east of the port city of Caldera, within the Atacama Region (Region III) of Chile. The project comprises two granted exploitation concessions for a total of 50 ha, covering a strike extensive, IOCG associated copper/gold vein prospect.

Mineralisation within the licence comprises sets of quartz/calcite veins and tabular breccia bodies, consisting of quartz and hematite, hosted within diorites. Previous mining at San Sebastian extracted material from a main mineralised structure averaging approximately 3 m in width, along a strike length of about 300 m. The average grade of material extracted from the mine averaged 6.8% copper.

It is anticipated that CPO will list on the ASX during August 2021.

Culpeo Minerals

Culpeo Minerals is a copper exploration and development company whose interests are focused in Chile, the world’s number one copper producer. The company is concentrating on exploring potential high grade copper systems in the coastal Cordillera region of Chile.

www.culpeominerals.com.au

 

[Dona Ferentes]

Listing date	17 August 2021 1:00 PM AEST ##
Contact details	Culpeo Minerals Exploring the High-Grade Copper Belts of the Atacama Desert, Chile culpeominerals.com.au Ph: +61 8 9322 1587
Principal Activities	Mining
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	CPO
Capital to be Raised	$6,000,000
Expected offer close date	22 July 2021
Underwriter	Not underwritten. PAC Partners Securities Pty Ltd (Lead Manager)

 

[Dona Ferentes]

and trading ... Day One started healthy

.
Opened at 24c but has dropped quickly to 21c after the initial flurry...

 

[Sean K]

Geologists must get a bonner when they see green and blue in their drill holes. Ann here.

 

[Sean K]

I think they're cheating a bit by drilling near vertical into these, but it's still pretty impressive. I wonder what the true width of this is.

Market thinks it's got some size, up 100% ish.

 

[greggles]

This is one of the few stocks making decent gains today in spite of the large falls in the US last night. Still a lot of positive sentiment around CPO and optimism regarding upcoming assay results.

Results from holes 4 & 5 are due soon and hole 6 is currently being drilled. Market cap still only around $15 million. Plenty of potential if the assay results deliver the goods. Watching this one closely.

 

[Sean K]

The grades are pretty good here, but they need to expand the strike or have multiple of these in close proximity.

The routine here seems to be: announcement - spike - run off.

 

[Sean K]

Geologists must get a little excited when they chip a rock and it's green inside.

Culpeo Minerals’ Managing Director, Max Tuesley, commented: “While Culpeo’s primary focus is the exciting Lana Corina Project, we are encouraged by preliminary exploration results at our Quelon Project, demonstrating the depth of the Company’s growth pipeline. The widespread visual presence of copper mineralisation at the Anico Prospect and discovery of historical mine workings support the recently defined IP anomalies (ASX announcement 19 April 2022). We will now undertake a trenching program over the 1km strike length zone to gain greater insights on the copper mineralisation potential of the prospect. “

 

[Sean K]

Another good intersection, but it's still small dimensions.

 

[Sean K]

These are very good grades for a porphyry. Anything over .5% over these widths is respectable. Still hard to tell what the overall dimensions could be.

 

[Sean K]

They keep bringing up very wide and pretty high grade copper assays here. Could be a mine if the size is OK. And Chile let them dig it up.

 

[Sean K]

Dona liked a post above which made me come back and have a look at this.

Yikes!!! MC down to $3m after just raising $1m in Sep to keep the lights on.

Have had some very interesting intersections on their deposits but the market obviously thinks this is a turkey.

The best part of their last presentation was the projected copper supply crunch. Maybe that doesn't take into consideration a depression, but I'm getting set for that supply gap and increased copper price mid term.

 

[Dona Ferentes]

Sean, it's much easier to something and get you to do the investigation