- Coppernico Metals has initiated a 6,500-metre drilling program at its Sombrero copper-gold project in Ayacucho, Peru, setting the stage for a conditionally approved listing on the Toronto Stock Exchange
- The drilling program is focused on the Ccascabamba target area, whose significant high-grade copper mineralization is supported by extensive surface work, historical drilling, and similarities to other copper-rich skarn-porphyry systems in the surrounding belt
- Coppernico Metals is a mineral exploration company focused on creating shareholder value through the discovery of world-class copper-gold deposits in South America
Coppernico Metals has initiated a 6,500-metre drilling program at its Sombrero copper-gold project in Ayacucho, Peru, setting the stage for a conditionally approved listing on the Toronto Stock Exchange.
The drilling program is focused on the Ccascabamba target area, whose significant high-grade copper mineralization is supported by extensive surface work, historical drilling, and similarities to other copper-rich skarn-porphyry systems in the surrounding Andahualas-Yauri belt. Highlight surface and historical drill results from targets within Ccascabamba include:
- Corrales: 109 m at 0.67 per cent copper and 0.05 grams per ton (g/t) of gold (channel sample 18SRT-18).
- Hojota: 105 m at 0.25 per cent copper and 0.13 g/t gold (channel sample 18SRT-09).
- Fierrazo: 116 m at 0.42 per cent copper and 0.24 g/t gold (historical drill hole FE-DDH-03A).
Phase-1 will consist of 16 drill holes to uncover copper-rich skarn mineralization identified in surface mapping and channel sampling, as well as new mineralization along the southern margin of the Ccascabamba. Phase-2 drilling is slated for 2025 to follow up on attractive targets, with the company’s permit allowing for a total of 49 drill holes from 38 drill pads.
Concurrently, Coppernico is engaged in reconnaissance sampling across its 102,000-hectare land package to identify future drill targets, sustain positive news flow, and optimize leverage to copper’s expected exponential growth in long-term demand.
The company is well-financed for continuous drilling over the next year thanks to a C$19.37 million private placement in May that saw Teck Resources (TSX:TECK.A) take a 9.9 per cent ownership stake.
Conditional approval to list on the TSX
Investors will soon be able to gain exposure to Coppernico’s exiting year ahead and prospective journey towards a major copper discovery through the TSX. The junior explorer has been conditionally approved to list on the major stock exchange under the ticker “COPR” and plans to submit final documentation over the next few weeks.
Management expects the upgrade to enhance Coppernico’s profile, visibility, and access to liquidity for local and international investors, according to Wednesday’s news release.
Leadership insights
“The inaugural drill program is a significant milestone for Coppernico, presenting the potential for a major new copper discovery,” Ivan Bebek, chair and chief executive officer of Coppernico Metals, said in a statement. “The commencement of this drill program is the culmination of years of dedicated work by our team in collaboration with the nearby communities, Peruvian government agencies, and the company’s shareholders and stakeholders, who have shown their unwavering support and patience over the years.”
“We are excited to begin testing key target areas of this very large mineralized skarn system,” added Tim Kingsley, Coppernico Metals’ vice president of exploration. “With such a large target area, our phase-1 program will cover only a portion of the system. We expect this initial program to evolve considerably as we learn about the main factors that control the location, extent and geometry of mineralization.”
About Coppernico Metals
Coppernico Metals is a mineral exploration company focused on creating shareholder value through the discovery of world-class copper-gold deposits in South America.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo of drill rig at the Corrales target zone on Coppernico Metals’ Sombrero project in Peru: Coppernico Metals)