VANCOUVER, British Columbia – Coppernico Metals Inc., a prominent mining company listed on the TSX under the symbol COPR, has announced a strategic expansion of its Sombrero Project in Peru. The company has acquired an option on mineral concessions totaling 600 hectares, known as the Horizonte Concessions, which are adjacent to its Tipicancha target. This move is part of Coppernico's broader efforts to enhance its exploration footprint in the region.
Strategic Land Acquisition
The Horizonte Concessions are located in an area where Coppernico's Tipicancha epithermal-porphyry system is believed to extend beyond the current project boundaries. In 2025, while negotiating for these concessions, the company also staked an additional 1,400 hectares of surrounding mineral claims. Together, these acquisitions significantly bolster the land position at Tipicancha, a priority target due to strong indicators of a potential porphyry source at depth.
Ivan Bebek, Chair and CEO of Coppernico, emphasized the importance of this acquisition, stating, "In the past nine years exploring the Sombrero district, we have both rationalized and acquired ground that we continue to explore with the thesis that we have extended the Andahuaylas-Yauri belt to the west. We are pleased to have secured these strategic concessions prior to the commencement of drilling at our adjacent Tipicancha target, where we are currently in the process of seeking drilling permits."
Terms of the Option Agreement
The option agreement involves Exploraciones Horizonte Gold S.A.C., the arms-length owner of the concessions, and Coppernico's wholly-owned subsidiary, Sombrero Minerales S.A.C. Under the terms, the subsidiary has immediate rights to conduct exploration activities on the Horizonte Concessions. To purchase the concessions, Coppernico must complete US$3.0 million in staged work expenditures over a five-year period and make total payments of US$2.0 million.
During the option period, Coppernico retains full operational control, enabling the company to advance exploration programs, including geophysical surveys and drilling. If the option is exercised, the Optionor will retain a 1% net smelter return royalty on future production. Coppernico has the right to reduce this royalty to 0.5% within 10 years of its establishment through a one-time payment of US$1.0 million.
Tipicancha Target Overview
Tipicancha is a large-scale copper-gold target characterized by an approximately 2-kilometer by 1-kilometer advanced-argillic lithocap developed in andesitic volcanics. This area features alunite-kaolinite and variable silica alteration, with localized exposures of massive to semi-massive pyrite breccias. Surface channel sampling has returned significant copper values, including 22 meters of 0.65% Cu, with a subset of 10 meters at 1.14% Cu.
This style of copper-bearing breccia is commonly interpreted as evidence of leakage from a fertile porphyry system at depth, making Tipicancha a high-impact target for Coppernico's exploration efforts. The current Sombrero Project footprint covers approximately 57,000 hectares, and the new concessions are expected to enhance the company's ability to explore this promising area.
Future Exploration Plans
Coppernico intends to commence initial exploration activities on the Horizonte Concessions in the near term. The concessions are currently in good standing, with no known encumbrances or environmental liabilities, and all required payments have been maintained. This expansion aligns with the company's strategy to focus on high-potential mining districts in Peru, leveraging its expertise in copper and gold exploration.
The acquisition of these concessions underscores Coppernico's commitment to growing its asset base and advancing key projects like Sombrero. With operational control and a clear path to ownership, the company is well-positioned to drive exploration forward and potentially unlock significant mineral resources in the region.
