Vancouver, Canada – June 12, 2024 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased to announce that, through its Peruvian subsidiary Sombrero Minerales SAC, it has entered an agreement with AK Drilling International S.A. ("AK Drilling"), a Peru-based drilling company, to commence an initial drill program at the Ccascabamba Target Area (formerly referred to as the Sombrero Main Target area) within its Sombrero copper-gold property located in Ayacucho, Peru. Under the agreement, which has a term of one year, the Company has committed to a minimum of 3,000 metres of diamond core drilling. Mobilization of equipment and personnel to the drill site is scheduled to take place in the month of July 2024.
Ivan Bebek, CEO and Chair of Coppernico, stated, “We are pleased to announce our collaboration with AK Drilling, who was selected on the basis of its strong operational performance and attention to safety and environmental management. We look forward to working closely with their team as we take this exciting step towards the advancement of our inaugural drill program at our Sombrero Project.
Coppernico is well financed with the recent completion of a $19.37mm funding, in which Teck Resources Limited acquired a 9.9% interest in the Company.
The commencement of drilling will provide additional opportunities for the community through direct employment as well as indirect goods and services contracts, while agricultural initiatives through Agroideas are ongoing and will continue to ensure a positive long-term impact for the communities irrespective of exploration results.
Further details about the initial drill targeting will be released in the coming weeks as the Company anticipates starting drilling in July 2024.”
High-Level Drilling Strategy
The drill program will target skarn style mineralization along the highly prospective and extensive contact zone between the Ccascabamba intrusive complex and Ferrobamba limestone. Mapping and sampling in the areas of Corrales, Hojota, and the area south of Fierrazo have demonstrated broad zones of mineralization on surface which appear to extend underneath post mineralization cover. The drill program will test a ~2.5 km long section of the intrusive contact zone along its southern margin and underneath the post mineral cover.
Further details of the planned drill program, including specific drilling locations and timelines, will be disclosed in the near future.
Continued Community Engagement
Coppernico is committed to fostering positive relationships with the communities surrounding the Sombrero Project. As part of this commitment to provide ongoing support and help meet local community needs, the Company recently donated a 2024 Volvo VM 19-ton truck to the Huancasancos community, which has already been deployed for transporting construction and agricultural materials.
Furthermore, Coppernico continues to support the Agroideas program, an initiative fostering sustainable agricultural and social programs involving grants obtained from the Peruvian government in a collaborative effort designed to improve local livelihoods. As part of its ongoing social initiatives, the Company is ensuring that the benefits of the Sombrero Project extend to local families and contribute to the overall well-being of the community.
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, through its Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc areas within the Sombrero Project in Peru, its flagship project, and is reviewing additional premium projects in South America.
The Sombrero Project is a land package of approximately 102,000 hectares 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 deposits. The Company’s NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas of the project.
Coppernico is currently an unlisted public reporting issuer. The Company is seeking a listing on a recognized stock exchange. For more information, please visit www.coppernicometals.com.
Cautionary Note
No regulatory organization has approved the contents hereof.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions and include, but are not limited to, statements with respect to: the Company’s exploration and more specifically, drill plans. 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 and the Company’s efforts to 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 AIF and other continuous disclosure filings with the Canadian Securities Administrators, available at www.sedarplus.ca.