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Highlights:
- Culpeo’s detailed mapping program at the Lana Corina Project confirmed the discovery of new copper zones, the company shared on Tuesday (23 August 2022).
- Culpeo has also gained validation for four high-priority drill targets at Lana Corina.
- Backed by this update, Culpeo’s share price surged over 12% as of 11:30 AM AEST on the ASX.
Australian mining firm Culpeo Minerals Limited (ASX:CPO) shares were spotted rocketing on the ASX on Tuesday, backed by the announcement of its discovery of new copper mineralisation in Chile. Culpeo’s shares were trading 12.499% stronger at AU$0.18 per share at 11:30 AM AEST today (23 August 2022).
Culpeo has reported the results of a detailed mapping program at its Lana Corina Project in Chile. The company has secured validation for four high-priority drill targets close to the Lana Project.
Here’s why Culpeo shares are marking significant gains on the ASX:
The Lana Corina Project:
Culpeo has identified multiple outcropping breccia and copper oxide zones at the Lana Corina Project, Chile, followed by a thorough geological mapping.
The company has identified four significant drill targets at Lana, T1, T2, T3, and T4 and has reported an increased footprint of copper by 500m by 400m at the Lana Project in Chile.
As a response to this significant discovery, Max Tuesley, Managing Director of Culpeo, stated:
Previously on 17 August 2022, Culpeo announced that it had hit high-grade copper mineralisation at the Lana Project. Culpeo’s phase 1 diamond drilling program had returned wide zones of high-grade copper at the project in Chile.
Culpeo’s share price movement on the ASX:
Over the last one year, Culpeo’s share price has declined by almost 22% on the ASX. On the contrary, the company’s YTD-based share price marked a gain of 12.5% (as of 12:50 PM AEST on the ASX today.) Furthermore, Culpeo’s share price appreciated by almost 6% on the ASX in the last one month.
