Maiden Drilling at La Florida Yields Up to 4.19% Copper; $3M Raised for Vista Montana
Culpeo Minerals reports promising high-grade copper intersections at its La Florida Prospect and secures A$3 million to fund upcoming drilling at Vista Montana, advancing its Chilean copper exploration ambitions.
- Maiden drilling at La Florida confirms significant porphyry-style copper system
- Multiple high-grade copper intercepts including up to 4.19% Cu over short intervals
- A$3 million equity placement completed to fully fund Vista Montana drilling
- Upcoming 4,000m diamond drilling programme scheduled for Q1 2026
- Strong cash position of A$2 million with zero debt and further funds pending
Fortuna Project Breakthrough
Culpeo Minerals Limited has delivered encouraging results from its maiden drilling campaign at the La Florida Prospect, part of the Fortuna Project in Chile’s prolific Coastal Cordillera copper belt. The eight-hole diamond drilling programme intersected multiple zones of high-grade, near-surface copper mineralisation, confirming the presence of a porphyry-style copper system extending over a 1.7km by 500m corridor.
Noteworthy intercepts include 6.65 metres grading 1.03% copper from just 14 metres depth, with higher-grade intervals reaching 1.44% copper, and a standout 1.95 metres at 3.49% copper from 121.5 metres. These results validate earlier surface mapping and geophysical surveys, highlighting La Florida as a compelling target for further exploration.
Funding Secured for Lana Corina Expansion
Building on this momentum, Culpeo successfully raised A$3 million through a two-tranche placement during the quarter, fully funding a high-impact 4,000-metre diamond drilling programme at the Vista Montana Prospect within the Lana Corina Project. This drilling is planned to commence in the first quarter of 2026, pending final land access agreements, and aims to test a 3-kilometre mineralised trend linking Lana Corina and Vista Montana.
Previous drilling at Vista Montana has already demonstrated significant copper potential, with a wide intercept of 454 metres at 0.93% copper equivalent. The upcoming programme is expected to build on these results and further delineate the district-scale potential of Culpeo’s Chilean concessions.
Corporate Stability and Strategic Focus
On the corporate front, Culpeo held a General Meeting in late January 2026 where all resolutions, including the issuance of the second tranche of placement securities, were passed. The company also streamlined its governance with Ms Michaela Stanton-Cook appointed as sole Company Secretary, replacing the previous joint arrangement.
Financially, Culpeo ended the quarter with a healthy cash balance of A$2 million and no debt. The imminent settlement of the second tranche of the recent equity raise is expected to add another A$1.6 million before costs, bolstering the company’s capacity to advance its exploration programmes.
Meanwhile, Culpeo has elected to terminate its option agreement on the Jupiter Copper Project, expensing associated costs but refocusing efforts on its core Fortuna and Lana Corina assets. This decision underscores a disciplined approach to capital allocation and project prioritisation.
Looking Ahead
With promising drilling results and secured funding, Culpeo Minerals is well-positioned to accelerate exploration activities in one of the world’s premier copper jurisdictions. The upcoming drilling at Vista Montana will be closely watched as it could significantly enhance the company’s resource base and underpin future development plans.
Bottom Line?
Culpeo’s strong drilling results and fresh capital set the stage for a pivotal exploration phase in Chile’s copper heartland.
Questions in the middle?
- Will the upcoming Vista Montana drilling confirm and expand the copper mineralisation trend?
- How will Culpeo prioritise its exploration budget following the Jupiter Project exit?
- What timeline can investors expect for updated resource estimates and potential development milestones?
