Coppernico Provides Update on Drilling and New Epithermal and Skarn Targets
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Coppernico Provides Update on Drilling and New
Epithermal and Skarn Targets
Vancouver, Canada – March 3, 2025 – Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF) (“Coppernico” or
the “Company”) , is pleased to provide an update on its ongoing diamond drilling program , being
conducted through its wholly-owned private Peruvian subsidiary, Sombrero Minerales SAC, at its Sombrero
Project in Peru.
Highlights
• The Company has drilled approximately 7,100 metres ("m") and is currently drilling its 18th hole.
o Pending assay results are expected to be released in the coming weeks.
• The Company has identified two new high-potential exploration targets (Figure 1)
o The Tipicancha epithermal target, southwest of the Ccascabamba target area.
o The Antapampa target, an iron-skarn occurrence north of the Nioc target area.
• The Company is a dvancing expanded permits to incorporate key targets including Fierrazo and
Tipicancha, with a temporary drilling pause after the 20th hole to optimize capital allocation and
review data before resuming drilling.
Figure 1: General location map of the current exploration targets.
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Ivan Bebek, Chair and CEO of Coppernico, stated, “Drilling to date has been completed under budget and
on time, and is continuously providing valuable insights into our thesis that a large, mineralized skarn
system could be present . Our knowledge of the controls of the system and the vectoring towards key
mineralized areas of the skarn continues to improve , while programs have also identified new robust
targets for discovery.
Data collected to date also suggest s that high-priority targets lie just outside our current drill permit
boundaries and we are actively working to expand the current permits. Fierrazo, lying immediately outside
the permitted area, remains our most compelling target due to the fact that it is the main part of the
Sombrero Skarn system that outcrops. The Fierrazo target has long and high-grade channel samples as
well as historical drill hole intervals. We are advancing permits for this area and will provide updates in the
near future as we work to access this prospective zone.
We are currently waiting on assays from 4 interesting holes from the Hojota area and are drilling 1 of 3
remaining key holes focused on significant new targets that have seen minimal to no drilling. The 20th hole
marks the conclusion of Phase 1 drilling; we will pause fieldwork as we wait for pending assays, additional
permits, and update our technical knowledge base before proceeding further.
The identification of the Tipicancha and Antapampa targets are significant as they also offer prospective
targets with scale for considerable copper-gold discoveries at Sombrero. With a 100,000-hectare land
position, we have barely scratched the surface of this district."
Drilling Program
Coppernico has successfully completed approximately 7,100 m of drilling to date having recently
commenced hole 18, with ongoing work focusing on key targets within the Ccascabamba target area.
Phase 1
Focused exclusively on the Ccascabamba target area, Phase 1 includes Hojota, Corrales, Chumpi, and
Escondida targets (Figure 2A). Holes 14 through 17 have intersected mineralization suggesting a potential
extension of the high -priority zone previously identified in hole 4 (See press release dated November 1 2,
2024). However, while initial observations are encouraging, assay results are still pending and are expected
to be released in the coming weeks.
The next two planned drill holes are strategically designed based on the insight gained from previous
drilling and are designed to test significant new targets that have yet to be drilled. With the completion of
the 20th hole, Phase 1 drilling will conclude, allowing for a temporary pause in field activities. During this
period, the Company will await pending assay results, advance permit approvals, and refine its technical
understanding to optimize the next phase of exploration.
Phase 2
The Phase 1 drilling campaign has delivered results in line with the Company’s exploration thesis, with
intercepts confirming the presence of mineralization and each additional drill hole helping vector towards
higher-grade zones. Given the observed correlation between magnetic anomalies and causative intrusion
boundaries with potential mineralized zones, Coppernico is actively working to extend the permitted area
to further evaluate this exploration thesis (Figure 2B) ahead of commencing field operations in Phase 2.
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Figure 2: Drilling program to date and permitted drilling area at the Ccascabamba target area within
the Sombrero Project.
New Exploration Targets: Tipicancha and Antapampa
The Company has identified two new high -potential exploration targets (Figure 1) – expanding discovery
opportunities within the project area – through detailed mapping and sampling which has outlined the
Tipicancha epithermal target southwest of the Ccascabamba target area (Figure 3), and a newly discovered
iron-skarn occurrence has been located approximately 1.5 km north of the Nioc target area, referred to as
the Antapampa target (Figure 6).
Tipicancha: A Large Epithermal System with Porphyry Potential
Recent mapping and rock sampling at Tipicancha have outlined a significant alteration zone covering
approximately 1 km by 2 km (Figure 4). The area shows classic signs of an epithermal system, with potential
for a deeper porphyry connection as discussed below.
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Figure 3: A) General geologic map of the Tipicancha target. B) Quartz-kaolinite altered volcanics with
ferricrete ledges and subcrops of massive pyrite. C) Massive pyrite with copper-rich evaporite. D) Sulfur
and copper-rich evaporites coating unconsolidated sediments. E) Massive pyrite with covellite coatings.
Key Findings
• Geologic Indicators: Lower elevations feature outcrops of massive pyrite, areas with stockwork
pyrite veining, and occasional porphyritic dikes, further suggesting a component of vertical zonation
(Figure 5).
• Extensive Alteration: Well-developed alteration patterns characteristic of an epithermal system,
with higher temperature alteration occurring more towards the center and lower elevations
(Figures 4 and 5).
• Geochemical Zonation: A 400 m by 1,500 m anomaly with an assemblage of elevated gold, silver
and molybdenum occurring over a large area a t higher elevations, while anomalous copper, gold
and molybdenum values are observed at lower elevations, and aligning with the most altered zones
(Figure 4).
• Expansion Potential: The target remains open to the north, with ongoing mapping and sampling
aimed at fully delineating its extent (Figures 3, 4 and 5).
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Figure 4: Mineral assemblages maps at Tipicancha.
Lower elevation portions of the system exhibit key indicators of temperature increasing with depth
including an extensive zone of massive pyrite, stockwork pyrite veining, and the presence of porphyritic
dikes (Figure 5). These features suggest a potential transition from an epithermal system to a porphyry
environment at depth.
Alteration at Tipicancha is both laterally and vertically zoned, showing a well -developed hydrothermal
system. Surface exposures reveal broad zones of silicification, kaolinite, montmorillonite, and native sulfur
– typical of an epithermal system. These zones transition to areas dominated by alunite, kaolinite, and illite,
along with quartz and vuggy silica, occurring within the most intensely altered regions generally at lower
elevations (Figures 4 and 5).
Complementing the alteration patterns, rock geochemistry exhibits similar zonation. Anomalous values of
gold, silver, and molybdenum occur over broad areas associated with lower -temperature alteration.
Coinciding with the strongest and highest temperature alteration observed to date are anomalies of
copper, gold, +/- molybdenum and a distinct lack of silver (Figures 4 and 5).
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Figure 5: Schematic long section through Tipicancha showing vertical zonation patterns.
Tipicancha represents a new epithermal-porphyry-style target, distinct from – and younger than – the
Eocene-aged skarn and porphyry systems at Ccascabamba, Nioc, and Good Lucky. The alteration system
and porphyritic dikes cross-cut young volcanic rocks – the same units that overlie skarn mineralization
elsewhere on the property.
The Tipicancha target falls within the Huanca sancos community, where Coppernico h olds an existing
exploration agreement. Further exploration in this area will focus on refining the system’s full extent and
testing deeper zones for porphyry potential.
Antapampa: New Skarn Target Identified
A newly recognized iron-skarn system has been identified over a 1 km by 1 km area, where outcrops and
sub-crops of massive hematite-magnetite mineralization are associated with garnet skarn (Figure 6). The
mineralization and alteration occur above and near the contact between the Ferrobamba Limestone and
the Mara Formation, which is considered a highly prospective setting elsewhere on the property. This new
area will be mapped and sampled in more detail in the coming months to better define its extents and to
understand its relationship to the Nioc target area.
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Figure 6: A) Initial reconnaissance mapping at Antapampa target. B) Massive magnetite mineralization.
C) Red garnet skarn alteration. D) Altered monzonite intrusion.
This new target is located approximately 1.5 km north of the Nioc target area, where Coppernico initiated
surface mapping and sampling in February. Importantly, it is located within the neighbouring community,
where the Company is in the advanced stages of negotiating a community access agreement which, once
finalized, will pave the way for further exploration in this relatively unexplored area.
Permitting Roadmap
The Company is advancing permit applications to access areas where historical drilling has indicated
elevated mineralization values. The EIA-Sd drill permit application, currently in progress, seeks to expand
the permitted boundaries and increase the number of drill holes, covering Fierrazo, Tipicancha, Chumpi,
and Escondida South targets.
A temporary pause in drilling is planned for after the Company completes its 20th hole and until it secures
full drilling access in these areas. This approach aligns with the Company’s disciplined capital preservation
strategy, ensuring resources are reserved for future drilling in key areas, while allowing the technical team
to evaluate results before resuming drilling. Coppernico remains fully funded for its 2025 exploration plans.
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Once assay results have been received, the Company will issue a detailed update, presenting a complete
assessment of the drilling data. Coppernico will continue to refine its drill targeting through geophysical
surveys and structural mapping, further optimizing exploration efforts.
Sombrero Project Featured at PDAC Core Shack
Coppernico is pleased to announce its participation in the Prospectors & Developers Association of Canada
(PDAC) Conference, taking place on March 2–5, 2025, in Toronto, Ontario. As part of the PDAC Core Shack,
the Company is displaying drill core samples from its Sombrero Project at booth #3109A on Sunday, March
2, and Monday, March 3. This dedicated space offer s industry professionals and investors a unique
opportunity to examine the project's mineralization first -hand, gain deeper insights into its geological
potential, and engage directly with CEO Ivan Bebek and Coppernico's technical team.
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).
ON BEHALF OF THE BOARD OF DIRECTORS
Ivan Bebek
Chair & CEO
For further information, please contact:
Coppernico Metals Inc.
Phone: +1 778 729 0600
Email: [email protected]
Website: www.coppernicometals.com
Twitter: @CoppernicoMetal
LinkedIn: www.linkedin.com/company/coppernico-metals/
About Coppernico
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders
through diligent project evaluation and exploration in pursuit of the discovery of world-class copper-gold
deposits in the Americas. The Company’s management and technical teams have a successful track record
of raising capital, discovery and the monetization of exploration successes. The Company's objective is to
become a leading advanced copper explorer , and through its wholly-owned private Peruvian subsidiary
Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously refe rred to as Sombrero
Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly
reviewing additional premium projects to consider for acquisition.
The Sombrero Project is a land package of approximately 102,000 hectares (1,020 square kilometres)
located in the north-western margins of the world-class Andahuaylas-Yauri trend in Peru. It consists of a
number of prospective exploration targets characterized by copper-gold skarn and porphyry systems, and
precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April