Mantoverde Phase 1 Drilling Yields Up to 1.88% Copper Over 18m
Capstone Copper reports promising Phase 1 drilling outcomes at its Mantoverde mine in Chile, revealing higher-than-expected copper grades and confirming mineral continuity. The company plans an ambitious Phase 2 drill program targeting resource growth in the northern corridor.
- Phase 1 drill program completed with 30,000 metres, assays received for 24,700 metres
- Higher-than-expected copper grades in Brecha Flores sector
- Consistent results supporting resource upgrades at Mantoverde Sur and Norte
- Strong mineralization confirmed along Santa Clara Corridor and Animas area
- Phase 2 drilling to focus on northern corridor expansion starting Q4 2025
Mantoverde Phase 1 Drilling Delivers Encouraging Copper Grades
Capstone Copper Corp. has released initial results from its Phase 1 drilling campaign at the Mantoverde copper-gold mine in Chile’s Atacama region. The 30,000-metre program, focused on areas adjacent to the existing Mantoverde Optimized Pit Reserves and priority northern targets, has returned higher-than-anticipated copper grades, particularly in the Brecha Flores sector. Notable intercepts include 176 metres at 0.77% copper and 24 metres at 1.50% copper, exceeding the current geological model’s expectations.
These results not only reinforce the existing resource model but also suggest potential for upgrading resource categories. Drilling at Mantoverde Sur and Mantoverde Norte has yielded consistent grades, enhancing confidence in mineral continuity and supporting the possibility of reserve conversions. The Santa Clara Corridor and Animas area step-out drilling further confirm mineralization extensions, indicating promising avenues for resource growth between active pits.
Strategic Expansion and Exploration Outlook
Building on these positive outcomes, Capstone plans to advance Phase 2 of its exploration program in the fourth quarter of 2025. This next phase will concentrate on approximately 20,000 metres of follow-up drilling near the northern pit boundary to improve grades and add mineralization, alongside 11,500 metres targeting high-priority zones identified through a recent 10-kilometre Induced Polarization geophysical survey.
The Mantoverde operation itself is undergoing a brownfield expansion expected to boost copper production by around 20,000 tonnes annually. This aligns with Capstone’s broader strategy to develop a world-class, long-life copper district in a Tier 1 jurisdiction, leveraging both exploration success and operational enhancements.
Technical Rigor and Forward-Looking Considerations
Capstone emphasizes the robustness of its quality assurance and quality control protocols, with independent laboratories conducting assay analyses and a comprehensive QA/QC program ensuring data integrity. While the conversion of these drill results into NI 43-101 compliant mineral resources is ongoing, the initial findings provide a solid foundation for future resource updates and feasibility studies.
CEO Cashel Meagher highlighted the significance of these early results, noting their potential to improve the mine’s grade profile and support expansion initiatives. The company remains committed to disciplined capital allocation and responsible production to meet growing global copper demand.
Bottom Line?
Capstone’s Phase 1 drilling success sets the stage for a pivotal expansion phase, with market watchers keenly awaiting Phase 2 results and updated resource estimates.
Questions in the middle?
- How will Phase 2 drilling results impact Mantoverde’s overall resource and reserve estimates?
- What are the potential cost and timeline implications of the planned brownfield expansion?
- How might these exploration successes influence Capstone’s positioning amid rising global copper demand?
