The company is undertaking reconnaissance work on its extensive land package. Credit: Coppernico Metals.

Coppernico Metals, through its Peruvian subsidiary Sombrero Minerales, has initiated a core drilling programme at the Ccascabamba Target Area of its Sombrero copper-gold project in Ayacucho, Peru.

The 2024 Phase I drilling programme is set to cover around 6,500m using one drill rig.

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Comprising 16 diamond drill-holes, the Phase I drilling aims to reach an average depth of 400m per hole, with variations based on individual results.

A subsequent Phase II is scheduled for 2025 to explore additional targets and build on the findings from Phase I.

The exploration seeks to uncover sub-surface zones of copper-rich skarn mineralisation, previously identified on the surface and through historical drilling, particularly at the Fierrazo target within the Ccascabamba Target Area.

The Ccascabamba area, analogous to other skarn-porphyry systems in the Andahualas-Yauri belt, exhibits a large zone of intense garnet skarn alteration linked to a multi-phase intrusive complex.

The drilling targets high-priority areas believed to contain concentrated copper-rich fluids, potentially leading to significant copper deposits.

This programme is designed to be methodical, with each phase testing new areas and informed by the results of preceding phases.

Coppernico’s permit allows for 49 holes from 38 drill pads, with all planned drilling for Phases I and II within this permitted area.

The company is also conducting reconnaissance work on its extensive land package to identify new targets and refine its holdings for future exploration efforts.

Besides, Coppernico secured conditional approval to list its common shares on the Toronto Stock Exchange (TSX). Upon listing, it will trade under the ticker “COPR”.

Coppernico CEO and chair Ivan Bebek said: “With a strong technical team in place, both at the management and Board levels, this milestone marks a key step in unlocking the potential value of this highly prospective project, which coincides with a strong outlook on the long-term price of copper.

“Receiving conditional approval to list the company’s shares on the TSX [Toronto Stock Exchange] is another meaningful milestone achieved. Being listed on the TSX, one of the world’s leading exchanges in the resource sector, will enhance the company’s profile, visibility, and increase access to liquidity for both local and international investors.”