Culpeo Minerals Limited (ASX: $CPO, OTCQB:CPORF) has secured approximately $2.2 million in funding through a placement of fully paid ordinary shares. The funding will be used to advance exploration programs at the Vista Montana, Lana Corina, and Fortuna Projects in the coastal Cordillera region of Chile. The placement received firm commitments from sophisticated and professional investors, with strong support validating the high prospectivity of the Company's copper projects in Chile. Directors have also participated in the equity raising, subject to shareholder approval.
The strongly supported Placement allows us to accelerate exploration at the Vista Montana Prospect, which we believe is connected to the Lana Corina Prospect where we have made a new high-grade copper discovery, with recent drilling returning a long, high-grade intersection of 454m @ 0.93% CuEq from 90m. The Company thanks its existing shareholders for their support and welcomes new investors. We look forward to providing regular updates on the progress of our field programs.
Culpeo Minerals Limited has successfully raised approximately $2.2 million to advance copper exploration at the Vista Montana, Lana Corina, and Fortuna Projects in Chile. The funding, supported by sophisticated and professional investors, will enable the Company to accelerate its exploration programs and capitalize on the high prospectivity of its copper projects in Chile. The Company's Managing Director, Max Tuesley, expressed gratitude to existing shareholders and extended a warm welcome to new investors. Culpeo Minerals aims to provide regular updates on the progress of its field programs, reflecting its commitment to increasing shareholder value through the exploration, acquisition, and development of high-grade, near-surface mineralized copper systems.