Coppernico Receives Main Permit to Commence Drilling Activities at its Sombrero Project in Peru
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Coppernico Receives Main Permit to Commence Drilling
Activities at its Sombrero Project in Peru
Vancouver, Canada – March 26, 2024 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased
to announce the receipt of its Start of Activities Permit (the “Permit”) by its Peruvian subsidiary Sombrero
Minerales S.A.C., which allows for the initiation of drilling activities at its Sombrero Project (“Sombrero” or
the “Project”) located in Ayacucho, Peru (Figure 1).
The Permit is one of the final steps in the permitting process, with only the water permit outstanding which
is expected shortly. The Company is in the process of identifying a drill contractor as it prepares for its
inaugural drill program which will commence upon the completion of a financing and subsequent listing.
The groundwork activities that commenced in February are progressing as scheduled and will continue to
support final drill target preparation and exploration across new targets.
Permitting Highlights:
• The Permit covers an area of 972.92 hectares, in which the Company has mapped out several drill
targets (Figure 1).
• The Permit provides for continued opportunities aimed at fostering sustainable development, skills
development and financial returns via field work employment opportunities for community
members.
• The Company currently holds the environmental permit ( “DIA”), enabling the drilling of up to 48
holes to be drilled from 38 drill pads within the Sombrero Main target area.
Ivan Bebek, CEO of Coppernico stated , "This announcement is a pivotal milestone for the company as a
whole. Obtaining the necessary permit for drilling operations represents the culmination of meticulous
planning and unwavering dedication from our team. I extend my gratitude to our Peruvian colleagues,
partners, and stakeholders for their steadfast efforts in realizing this milestone.
As we embark on this new phase of exploration, we remain resolute in our commitment to not only
advancing our corporate objectives but also contributing to the socio -economic fabric of the regions in
which we operate. This includes creating employment opportunities for local communities and supporting
sustainable agricultural initiatives."
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Figure 1 – Permitted Drill Area at Sombrero Main Area1
Coppernico is exploring the continuation of the Andahuaylas -Yauri mining trend; the Sombrero Project
hosts numerous direct analogues to significant mines on this trend ( such as Las Bambas and Tintaya)
where the same host rock and mineralization styles are observed.
The Sombrero Main area is a highly prospective initial exploration target within our nearly 100,000-hectare
land position. The target area represents approximately a 7-kilometer-long contact between intrusive rocks
and altered limestone and sediments. Where exposed on surface, the contact zones feature broad areas of
copper-gold mineralization and skarn alteration. The Permit allows the Company to drill test numerous
priority targets situated within and around the Sombrero Main intrusive complex. The Company’s plans are
to systematically drill and explore these targets, final drill pad locations will be confirmed prior to drilling.
In an effort to expand the pipeline of highly prospective identified targets throughout the Sombrero land
position, the Company is continuing to pursue additional permits and access agreements.
1 The map illustrates the primary area of interest related to the drill permit covering a span of 563.37 hectares. There are
3 additional smaller areas, not depicted in the map, which collectively contribute to the total Permit land package of
972.92 hectares.
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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 careful project evaluation and exploration excellence in pursuit of the discovery of world -class
copper-gold deposits in South America. The Comp any’s management and technical teams have a
successful track record of raising capital, discovery and the monetization of exploration successes. The
Company is currently focused on the Sombrero project in Peru, its flagship project, and is reviewing
additional premium projects in South America.
Coppernico is currently an unlisted public reporting issuer. The Company intends to be listed on a
recognized stock exchange once it qualifies. For more information, please visit
www.coppernicometals.com.
Cautionary Note
This news release contains forward -looking statements and forward -looking information within the
meaning of Canadian securities legislation (collectively, “forward -looking statements”) that relate to the
Company’s current expectations and views of future events about which there cannot be any certainty. No
assurance can be given that these expectations will prove to be correct and such forward -looking
statements included in this news release should not be unduly relied upon. These statements speak only
as of the date of this news release. In particular, and without limitation, this news release contains forward-
looking statements pertaining to the Company’s exploration and drill plans , the securing of pending drill
permits and the Company’s plans to finance and list the Company’s shares on a recognized stock
exchange. Forward -looking statements are based on a number of assumptions and are subject to a
number of risks and uncertainties, many of which are beyond the Company’s control, which could cause
actual results and events to differ materially from those that are disclosed in or implied by such forward -
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looking statements. Readers should refer to the risks discussed in the Company’s continuous disclosure
filings with the Canadian Securities Administrators, available at www.sedar.com.
No regulatory organization has approved the contents hereof.