VANCOUVER, BC / ACCESSWIRE / 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."
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.
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: info@coppernicometals.com
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 Company'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-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.
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.
SOURCE: Coppernico Metals Inc.
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