Originally shared on coppernicometals.com
Vancouver, Canada – June 12, 2024 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased to announce that, through its Peruvian subsidiary Sombrero Minerales SAC, it has entered an agreement with AK Drilling International S.A. (“AK Drilling”), a Peru-based drilling company, to commence an initial drill program at the Cascabamba Target Area (formerly referred to as the Sombrero Main Target area) within its Sombrero copper-gold property located in Ayacucho, Peru. Under the agreement, which has a term of one year, the Company has committed to a minimum of 3,000 metres of diamond core drilling. Mobilization of equipment and personnel to the drill site is scheduled to take place in the month of July 2024.
Ivan Bebek, CEO and Chair of Coppernico, stated, “We are pleased to announce our collaboration with AK Drilling, who was selected on the basis of its strong operational performance and attention to safety and environmental management. We look forward to working closely with their team as we take this exciting step towards the advancement of our inaugural drill program at our Sombrero Project.
Coppernico is well financed with the recent completion of a $19.37mm funding, in which Teck Resources Limited acquired a 9.9% interest in the Company.
The commencement of drilling will provide additional opportunities for the community through direct employment as well as indirect goods and services contracts, while agricultural initiatives through Agroideas are ongoing and will continue to ensure a positive long-term impact for the communities irrespective of exploration results.
Further details about the initial drill targeting will be released in the coming weeks as the Company anticipates starting drilling in July 2024.”
High-Level Drilling Strategy
The drill program will target skarn style mineralization along the highly prospective and extensive contact zone between the Ccascabamba intrusive complex and Ferrobamba limestone. Mapping and sampling in the areas of Corrales, Hojota, and the area south of Fierrazo have demonstrated broad zones of mineralization on surface which appear to extend underneath post mineralization cover. The drill program will test a ~2.5 km long section of the intrusive contact zone along its southern margin and underneath the post mineral cover.
Further details of the planned drill program, including specific drilling locations and timelines, will be disclosed in the near future.
Continued Community Engagement
Coppernico is committed to fostering positive relationships with the communities surrounding the Sombrero Project. As part of this commitment to provide ongoing support and help meet local community needs, the Company recently donated a 2024 Volvo VM 19-ton truck to the Huancasancos community, which has already been deployed for transporting construction and agricultural materials.
Furthermore, Coppernico continues to support the Agroideas program, an initiative fostering sustainable agricultural and social programs involving grants obtained from the Peruvian government in a collaborative effort designed to improve local livelihoods. As part of its ongoing social initiatives, the Company is ensuring that the benefits of the Sombrero Project extend to local families and contribute to the overall well-being of the community.
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s VP of Exploration, who is a “Qualified Person” (as defined in NI 43-101).