CUPR CEO Confirms Drill Core at Lab Right Now
The CEO of Super Copper (CSE: CUPR) has confirmed that the first holes were sent to ALS about eleven days ago (exactly the day he stopped buying due to insider trading regulations).
It will take approximately 4-6 weeks for assay results, so they will most likely arrive in early October.
They may release visuals before assays and said, “what we're seeing…it's quite exciting.”
He said ~0.5%+ copper over 50–100+ metres would be a “game changer for the company.” He then called 50 m above 0.5% Cu a “very good” baseline, depending on geometry/system, with repeatability in step-outs being the next important factor. Conversely, he characterized <10 m of anything as basically a dud.
The first hole was originally planned for ~400 m, but they will keep drilling if mineralization continues. He says if they are still seeing interesting mineralization around 400–420 m, they'll continue the hole; they'd stop after roughly 60–100 m of unmineralized rock beyond their model.
The rig is apparently doing ~50 m/day. More importantly, management expects a much more active news period through year-end, including Cordillera Cobre drilling/assays, Castilla geophysics, and material-science developments.
Alto and Calcite Hill may be connected. Management says they originally thought these were two completely separate systems, but magnetics completed roughly a quarter ago suggest they are connected. The CEO specifically says this creates the possibility of “district-scale potential.” That's potentially important for the ultimate size thesis if drilling validates the system.
The magnetic system is apparently considerably larger than the IP anomaly. He emphasizes that the current drilling is testing the smaller IP target, while magnetics suggest a potentially much larger geological system.
Drill-ready targets will be ready for the Castilla Project within approximately 1-1.5 months.
Catalysts through year-end: first Cordillera Cobre assays; Castilla IP results; commencement/results of Castilla drilling; additional surface sampling from both projects; possible land expansion; potential strategic partners; and material-science developments, which he called “a bit of a dark horse.”
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