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Highlights
- Culpeo Minerals expands Chilean footprint with Jupiter copper project
- Early exploration reveals high-grade copper and gold zones
- Staged acquisition strategy enables systematic development
Culpeo Minerals (ASX:CPO) is set to broaden its copper exploration footprint in Chile through the acquisition of the Jupiter copper project, a promising asset situated in the country’s mineral-rich Coastal Cordillera region. The move aligns with the company’s continued efforts to focus on high-grade copper discoveries in proximity to infrastructure.
The Jupiter project spans approximately 4,000 hectares and will be acquired via a structured farm-in option agreement with Excava Holdings. As part of the deal, the concessions will be transferred into a dedicated special purpose vehicle (SPV), in which Culpeo can earn staged ownership by meeting exploration and financial milestones over a five-year period.
Initial exploration conducted during due diligence has already indicated significant potential. Culpeo’s geological team identified two large mineralised zones containing high-grade copper and gold, based on early fieldwork and sampling. According to the company, these zones present immediate exploration targets and will be a primary focus going forward.
In November 2024, Culpeo’s technical team carried out a five-day site visit to validate historical data and collect new surface samples. A total of 37 rock chip and channel samples were analysed for copper, gold, silver, and molybdenum. The results showed impressive grades, including samples returning up to 4.33% copper and 3.24 grams per tonne of gold. Notably, 13 of the samples contained over 0.5% copper, reinforcing confidence in the project’s high-grade potential.
The acquisition terms are structured to allow for gradual investment, beginning with an initial payment of approximately $64,000, followed by escalating payments over the subsequent four years. By the fifth year, the total consideration will reach around $1.59 million, should all milestones be met.
The addition of Jupiter is expected to complement Culpeo’s existing projects in Chile, including Lana Corina and Fortuna, both of which are also located within the Coastal Cordillera. The company aims to advance exploration systematically across all its assets while leveraging the region’s established infrastructure and favorable geology.
With Jupiter now in the pipeline, Culpeo (CPO) strengthens its position within one of the world’s most prolific copper belts, and reinforces its commitment to exploring high-grade, infrastructure-adjacent opportunities in South America.
