Culpeo Minerals Limited (ASX: CPO, OTCQB: CPORF) has announced a major milestone with the intersection of multiple zones of high-grade, near-surface copper mineralisation at the La Florida Prospect, part of its Fortuna Project in Chile. The results mark a significant advancement in the Company’s exploration campaign across Chile’s Coastal Cordillera, a region known for hosting some of the world’s most productive porphyry copper systems.
The maiden eight-hole diamond drilling program at La Florida was designed to test a 1.7 km by 500 m structural corridor, targeting multiple zones of copper enrichment. All eight holes have now been completed, with four delivering particularly strong results that confirm the presence of a copper-bearing porphyry-style system.
Figure 1: La Florida Prospect’s Location
Encouraging High-Grade Intercepts Confirm Mineralisation
Drilling has confirmed the existence of a mineralised porphyry system hosted in lithologies comparable to those found at Culpeo’s nearby Lana Corina Project. Assays revealed notable intercepts such as:
- 6.65m @ 1.03% Cu from 14.00m in hole CMLFD002, including
- 4.40m @ 1.44% Cu from 15.00m
- 1.90m @ 0.88% Cu from 65.50m in hole CMLFD002
- 13.60m @ 0.88% Cu from 4.00m in hole CMLFD005, including
- 6.10m @ 1.35% Cu from 10.00m
- 16.00m @ 0.70% Cu from 107.00m, including
- 7.47m @ 1.36% Cu from 115.00m
- 1.95m @ 3.49% Cu from 121.50m
- 0.49m @ 4.19% Cu from 121.50m
Additional results include:
- 1.00m @ 1.37% Cu from 76.00m in hole CMLFD006
- 3.00m @ 0.61% Cu from 49.60m in hole CMLFD008, including 0.50m @ 1.84% Cu from 51.00m
The assay program also returned silver grades up to 5.19 g/t, adding further value to the discovery.
Company Statement: A New Porphyry System Emerging
Culpeo Minerals’ Interim Executive Chair, Geoff McNamara, commented: “Drilling at La Florida has outlined mineralisation on what we believe to be the edge of a new porphyry system. These are the first drill holes ever completed on this target, the results are highly encouraging and provide important vectors to guide the next phase of drilling.”
This statement underscores the strategic significance of the La Florida results in establishing new copper exploration targets within the Fortuna Project.
La Florida: A Strategic Asset in the Coastal Cordillera
The Fortuna Project, where La Florida is located, lies approximately 25 km north of Culpeo’s Lana Corina Project. Situated within the Coastal Cordillera belt, it occupies a prolific geological zone that hosts numerous large-scale copper deposits. The region’s mineralisation is associated with structurally controlled breccias and intrusive units, which are common features in productive porphyry systems.
Culpeo’s exploration model focuses on identifying high-grade, near-surface copper systems that can be advanced rapidly through systematic drilling. The results from La Florida confirm that the mineralisation encountered is consistent with the central zones of productive porphyry systems, providing strong indicators for follow-up exploration.
Ongoing Exploration and Next Steps
Following the successful results at La Florida, drilling is now underway at the El Quillay and Pedra Dura targets, both of which exhibit large, high-grade copper anomalies. Assay results from these programs are anticipated in Q4 2025, while trenching and surface mapping continue across the broader Fortuna Project area to identify further priority drill targets.
The Company has also planned a maiden drill program at Vista Montana following the completion of current exploration works. Vista Montana is the extension of the Company’s Lana Corina discovery which included drill intercepts of:
454m at 0.93% CuEq from 90m (CMLCD014)4 including;
- 78m at 1.24% CuEq from 200m.
- 257m at 1.10% CuEq from 170m (CMLCD002)1
- 173m at 1.09% CuEq from 313m (CMLCD003)2
- 169m at 1.21% CuEq from 239m (CMLCD010)3
Geochemistry and geophysics at Vista Montana has defined a 250m by 250m copper target 2km to the North-East of Lana Corina, with sampling results of up to 2.62% copper, 2.07g/t gold and 11.2g/t silver.
Lana Corina and Vista Montana are large open mineralised system with multiple look alike targets along strike.
These parallel programs are designed to systematically expand Culpeo’s understanding of the mineralised corridor that extends across the Fortuna Project.
Figure 5: Image captured at El Quillay West showing the drill rig drilling maiden diamond hole CMQD001
Global Copper Market Context
The timing of Culpeo’s discovery aligns with a robust outlook for the global copper market, driven by the accelerating transition to renewable energy and electrification.
According to market data from Grand View Research, the global copper market was valued at USD 241.88 billion in 2024 and is projected to reach USD 339.95 billion by 2030, growing at a CAGR of 6.5% from 2025 to 2030. The Asia Pacific region dominated the market with a 74.7% share in 2024, while the building and construction segment accounted for the largest end-use share at 26.4%.
The International Energy Agency (IEA) reports that global expansion of solar and wind capacity is sharply increasing copper demand, particularly for cabling, power conductors, and transformers. As countries pursue aggressive net-zero emission targets, copper has emerged as a critical enabler of renewable energy systems.
Market Reaction: Rising Volume Reflects Investor Confidence
Culpeo’s announcement has spurred significant investor interest. The trading volume surged to 25.7 million shares on 7 October, marking a substantial rise from the average daily volume of approximately 11.5 million shares over the previous four sessions.
This sharp increase in activity suggests that the market is responding positively to the high-grade drilling results and the Company’s growing footprint in Chile’s copper exploration space.
Figure 6: The surge in the trading volume of Culpeo Minerals stock on 7th October, 2025
Commitment to Sustainable Exploration
Culpeo remains committed to sustainable exploration practices and efficient development strategies across its Chilean portfolio. With established infrastructure access, roads, power transmission, and local mining support, the Company benefits from cost-effective operational capabilities.
Culpeo’s projects are strategically positioned in proximity to world-class copper operations, including Los Pelambres, Escondida, Collahuasi, and El Teniente, underscoring its advantageous presence in Chile’s established mining regions.
Investors’ Outlook
Culpeo Minerals Limited (ASX: CPO) continues to strengthen its exploration credentials through consistent technical delivery and discovery potential. The La Florida results mark another step in building a portfolio of high-grade, near-surface copper systems capable of supporting long-term shareholder value.
With a last traded price of AUD $0.014 and a market capitalisation of approximately AUD $9.37 million (as of October 7th, 2025), Culpeo presents a compelling case for investors seeking exposure to early-stage, high-growth copper assets in a structurally strengthening global copper market.
As the Company advances its drilling and exploration programs through Q4 2025, upcoming assay results from El Quillay, Pedra Dura, and Vista Montana will be critical catalysts to watch.
