Cupani Metals Corporation (CSE: CUPA, OTCQB: CUPIF) has released first assay results from its summer drilling program at the Blue Lake Project in Schefferville, Quebec, reporting 1.71% copper equivalent over 2.90 metres in hole CUP26-10. The intersection, which includes 0.83% copper, 0.62% nickel, and 0.97 g/t platinum group elements, was encountered at 159.1 metres depth within massive magmatic sulphides. The results are from rush assays at ALS Global in Val d'Or, with the remaining 713 samples from the broader summer campaign still pending.

Key Points

  • Cupani Metals Corporation (CSE: CUPA, OTCQB: CUPIF)
  • Hole CUP26-10 returned 1.71% CuEq over 2.90 metres, including 1.86% CuEq over 2.40 metres, at the Blue Lake Southeast sector
  • Three of six summer holes intersected massive magmatic sulphides; all six intersected mineralised ultramafics
  • Investors may be watching for full assay results from the remaining five holes, expected in October

CUP26-10 Intercept Details and Sulphide Mineralogy at Blue Lake

Hole CUP26-10 was collared 244 metres southeast of CUP26-04 along the same magnetic trend and intersected 2.45 metres of massive magmatic sulphides at 159.1 metres depth. The best sub-interval returned 1.86% CuEq over 2.40 metres, comprising 0.83% copper, 0.72% nickel, 1.05 g/t PGE. The company states the sulphide contacts are nearly perpendicular to core axis in vertical holes and should be considered close to true thickness. The massive sulphides are overlain by thicker intervals of disseminated, net-textured, and blebby sulphides within the overlying ultramafic sequence, with analytical results for those intervals still pending.

Summer Campaign Scope and Targeting Strategy at Blue Lake Southeast

Six diamond drill holes were completed in the Blue Lake Southeast sector during the summer campaign, all drilled more than one kilometre southeast of the historical Blue Lake 2 mineralisation. Three holes intersected massive magmatic sulphides at the base of mineralised ultramafic units. The newly drilled sulphide intersections and their host rocks are described as nearly horizontal, intersected through vertical drilling over predictable geometry. CEO Brian Bosse stated that CUP26-10 lies approximately one kilometre from Blue Lake 2, a shallow historical zone of similar grade and orientation, supporting the company's interpretation of a single continuous system.

QA/QC Process and Independent Qualified Person Oversight

Rush samples from the best massive sulphide intervals in CUP26-10 were sent to ALS Global in Val d'Or for preparation and analysis in Vancouver. Of 719 total samples submitted, 713 results remain pending. Analytical procedures include fire assay with ICP-AES finish for platinum group metals and a 33-element multi-element package using four-acid digestion. The technical disclosure was supervised and approved by Jacquelin Gauthier, P.Geo., Cupani's VP of Exploration, acting as qualified person under National Instrument 43-101.