SYDNEY, AUSTRALIA: Culpeo Minerals Limited (ASX: CPO) has entered into an settlement to acquire the Lana Corina Copper Project from SCM Antares.
Lana Corina is a high-grade copper project, internet hosting a number of outcropping copper bearing breccia pipes related to a well mineralised porphyry intrusive. The Project is found 40km north of the Company’s Quelon Project within the coastal Coquimbo area of Chile.
Culpeo Minerals’ Managing Director, Max Tuesley, commented: “Lana Corina is an thrilling alternative for Culpeo to quickly delineate and outline a high-grade copper useful resource within the Coastal Cordillera of Chile. Lana Corina offers a de-risked copper exploration project at low altitude, with excellent entry to infrastructure. The Project is drill prepared and we glance ahead to commencing drilling within the approaching days.”
The Lana Corina deposit was found within the 1940’s however it was not till the 1970’s that any detailed work was undertaken, together with geological mapping and shallow drilling. During this time a native company, Compania Minera Santa Rita put in a number of underground shafts and extracted copper ore from the high-grade breccia deposits.
Following this preliminary mining and up till 1985, the deposit was exploited by the Compania Minera Centinela, who processed ore on the close by authorities owned El Parral plant (ENAMI), located 5km north of Combarbala. Mining focused on the breccia pipes and was undertaken utilizing underground techniques with the utmost depth of the event reaching 160m below surface.
During this time the deeper potential of the system was recognised from each underground sampling and drilling with significant copper outcomes being returned from this work.
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