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Coppernico Metals Inc. CPPMF


Primary Symbol: T.COPR

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration excellence 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, through its wholly-owned private Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, and is 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 characte...


TSX:COPR - Post by User

Post by retiredcfon Oct 13, 2021 7:33am
231 Views
Post# 33999969

More CIBC

More CIBCEQUITY RESEARCH 
October 12, 2021 Flash Research 
COPPER MOUNTAIN MINING 
CORPORATION 

Cameron Exploration Project Shows Potential 

Our Take: Positive 
Copper Mountain announced drill results from 48 drill holes totalling 7,936m drilled at the Cameron Copper exploration property, located 40km from the company’s Eva project in Queensland, Australia. Highlight intercepts include 80m of 0.44% Cu (C6 target), 84m of 0.56% Cu and 25m of 0.73% Cu (C1 target). Drilled zones remain open to expansion, with several targets yet to be drill tested. Drilling is expected to continue into 2022, as management is encouraged by results and has increased its conviction that there is future 
potential for discovery of economic copper resources. 

We reiterate our Outperformer rating. We view the company’s near-term growth catalyst favourably, with the 45ktpd mill expansion expected to ramp-up in Q4/21E, a construction decision on Eva in late 2021 or early 2022, and a new LOM plan for the Ingerbelle deposit in Q2/22E. At spot prices, CMMC trades at 0.3x NAV and 3.6x EV/2021E EBITDA, discounted relative to peers at 0.6x, and 5.1x, respectively. 

Key Points 
C6 Target: This target area includes the Quamby gold mine, from which ~76koz of Au were recovered from heap leach in the late 1900’s. Drilling tested mineralization southwest of the mine workings. Drill testing consisted of 15 holes, spaced 60m-100m across a 1km strike length. Continuous low-grade copper mineralization is indicated, with higher-grade zones localized in a major fold hinge. Mineralization is open along strike and at depth. 

C1 Target: Soil anomalies are defined over an area of 0.6km by 3km at this target. To date, only 1.2km of the surface strike length has been tested. Drill results confirm the discovery of a large, structurally controlled copper-gold system. Mineralization is open along strike and at depth. 

C2 Target: Copper mineralization within zones having lateral extents of 
1.2km by 0.55km has been drilled. Holes were spaced 200m in the northern zone, and 100m in the southern zone. Multiple high-grade tenor zones within broader lower-grade mineralization envelopes were identified. Again, mineralization is open along strike and at depth.
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