Culpeo Minerals reports promising high-grade, near-surface copper mineralisation from its maiden drilling at La Florida Prospect within the Fortuna Project in Chile, confirming a new porphyry system.
- Multiple high-grade copper intercepts near surface
- Maiden 8-hole diamond drilling program completed
- Porphyry-style mineralisation confirmed at La Florida
- Silver grades up to 5.19g/t also intersected
- Further drilling underway at El Quillay and Pedra Dura
Exploration Breakthrough at La Florida
Culpeo Minerals Limited (ASX, CPO) has announced encouraging results from its inaugural drilling campaign at the La Florida Prospect, part of its Fortuna Project in Chile. The company’s maiden eight-hole diamond drilling program has intersected multiple zones of high-grade copper mineralisation close to the surface, a significant milestone for this early-stage exploration target.
The standout intercepts include 6.65 metres grading 1.03% copper starting from just 14 metres depth, and a 13.6-metre section at 0.88% copper from 4 metres downhole. These results are complemented by silver grades reaching up to 5.19 grams per tonne, highlighting the polymetallic nature of the mineralisation.
Porphyry System Potential
Geological and geochemical evidence from the drilling points to a porphyry-style copper system hosted within lithologies similar to Culpeo’s nearby Lana Corina discovery. The mineralisation is characterised by typical porphyry features such as veining, alteration, and elevated copper and silver concentrations. Importantly, the drilling intersected mineralisation on what the company interprets as the margins of this porphyry system, suggesting potential for larger, higher-grade zones along strike and at depth.
Interim Executive Chair Geoff McNamara described the results as "highly encouraging," emphasizing that these first-ever drill holes at La Florida provide valuable vectors to guide subsequent exploration phases. The Fortuna Project’s location within Chile’s prolific Coastal Cordillera, a region known for hosting major copper deposits, adds strategic value to these findings.
Ongoing and Future Exploration
Following the successful completion of the initial drilling at La Florida, Culpeo is actively drilling at other high-priority targets within the Fortuna Project, including El Quillay and Pedra Dura. Assay results from these programs are anticipated in the fourth quarter of 2025. Additionally, surface trenching continues to generate new targets across the project area, with a maiden drill program planned at Vista Montana to further expand the company’s exploration footprint.
The Fortuna Project benefits from robust regional infrastructure, including roads, power, and water, which are critical for advancing exploration and potential development. Culpeo’s experienced management team brings deep expertise in Chilean copper exploration, positioning the company well to unlock value from these emerging discoveries.
Context and Market Implications
These early-stage results from La Florida add to a growing portfolio of high-grade copper targets within Culpeo’s Chilean assets. While true widths of mineralisation remain to be determined and resource estimates are premature, the confirmation of near-surface, high-grade copper mineralisation in a proven copper belt is a positive signal for investors and the market. The company’s methodical approach to exploration and transparent reporting enhances confidence in the potential of the Fortuna Project.
Bottom Line?
Culpeo’s maiden drilling at La Florida sets the stage for a potentially significant copper discovery in Chile’s premier mining belt.
Questions in the middle?
- How extensive and continuous is the copper mineralisation beyond the initial drill holes?
- What are the expected timelines and targets for resource definition at La Florida?
- How will assay results from El Quillay and Pedra Dura influence Culpeo’s exploration strategy?