Maiden Drilling at La Florida Yields Multiple Copper Intercepts Over 1%

Exploration Breakthrough at La Florida

Culpeo Minerals Limited has reported a significant milestone in its copper exploration campaign with the completion of its maiden diamond drilling program at the La Florida Prospect, part of the Fortuna Project in Chile’s Coquimbo Region. This marks the first-ever drilling into this highly prospective target area, following a successful trenching campaign that revealed surface copper mineralisation up to 2.70% within a substantial structural corridor measuring approximately 1,700 meters by 500 meters.

The drilling results, released shortly after the quarter ended, confirmed multiple zones of copper mineralisation exceeding 1%, interpreted to lie on the boundary of a structurally controlled porphyry system. Noteworthy intercepts include 6.65 meters at 1.03% copper and shorter intervals with grades as high as 4.19% copper, underscoring the potential for a significant copper deposit.

Strategic Context and Next Steps

The Fortuna Project’s location within the Coastal Cordillera; a prolific porphyry belt hosting some of the world’s major copper deposits; adds strategic weight to these findings. The La Florida Prospect’s mineralisation characteristics, including porphyry-style veining and elevated copper-gold geochemistry, mirror those seen at Culpeo’s nearby Lana Corina discovery, suggesting a promising geological setting for further exploration.

Trenching activities continue across the La Florida corridor, expected to define additional high-priority targets for follow-up drilling. Concurrently, Culpeo is preparing for a fully funded 4,000-meter diamond drilling program at the Vista Montana Prospect within the Lana Corina Project. This program aims to test the potential continuity of a 3-kilometer copper trend linking Lana Corina and Vista Montana, which could substantially enhance the company’s resource base.

Corporate and Financial Position

On the corporate front, Culpeo appointed Michaela Stanton-Cook as Joint Company Secretary in July 2025, complementing the existing governance team. The company concluded the quarter with a cash balance of A$1.2 million and no debt, reflecting a solid financial footing to support ongoing exploration activities. Exploration expenditure for the quarter was approximately A$0.9 million, primarily directed toward drilling and fieldwork at La Florida.

While these early drilling results are encouraging, they represent initial steps in delineating the full extent and economic potential of the mineralisation. Culpeo’s management will likely focus on integrating these findings with ongoing trenching and upcoming drilling campaigns to refine their exploration model and advance toward resource definition.