New Copper Target Identified in Peru's Sombrero District

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Coppernico Metals Inc. (COPR:TSX; CPPMF:OTCQB; 9l3:FSE) has expanded its land position at the Sombrero Project in southern Peru by 2,400 hectares following the identification of a new target known as Rumi. The application, made through its subsidiary Sombrero Minerales SAC, was driven by geological and geochemical indicators suggesting the presence of a high-sulphidation epithermal or lithocap-style system.

Early-stage fieldwork at Rumi has outlined a 2.3-kilometer-by-2.5-kilometer zone characterized by advanced argillic alteration, including kaolinite, alunite, and silica. Short-Wave Infrared (SWIR) spectroscopy confirmed the presence of key alteration minerals such as dickite and disseminated pyrite. Reconnaissance sampling returned anomalous values of pathfinder elements arsenic, bismuth, and antimony, as well as sporadic molybdenum (up to 10 ppm) and copper (up to 101 ppm). Sulfur content exceeding 3% is consistent with acid-sulfate environments associated with high-sulphidation systems.

The alteration footprint at Rumi overlaps northeast and east-west structural corridors, which may have focused mineralizing fluids. Coppernico has begun a follow-up mapping and sampling program to further assess the potential scale and nature of the mineral system.

The Rumi target becomes the seventeenth standalone target in Coppernico's 56,400-hectare Sombrero land package, joining others such as Tipicancha, Macha Machay, and Ccello. These targets are part of the Miocene metallogenic belt, which overlays older skarn-porphyry systems of the Eocene–Oligocene Andahuaylas-Yauri Belt. Coppernico's large land position includes multiple mineralizing events and prospective geological structures, enhancing the potential for concealed porphyry centers.

Initial fees of US$3 per hectare have been paid to secure the concessions, and final granting is expected following regulatory steps, including public notice and registration. Tim Kingsley, Coppernico's VP of Exploration, stated in the news release, "Early fieldwork at the Rumi target has revealed a large, continuous alteration system with characteristics typical of high-sulphidation and lithocap environments, supporting the potential for a copper-gold porphyry system at depth."

Copper Industry: Policy, Price Surges, and Strategic Shifts

On October 24, Reuters reported that U.S. President Donald Trump reversed a Biden-era air pollution rule targeting emissions from copper smelters. The rule, finalized in May 2024, had imposed stricter limits on pollutants such as lead, arsenic, and mercury. The White House stated that the two-year exemption aimed to bolster American mineral security by easing regulatory pressure on a strained domestic industry. "Imposing these requirements on such a limited and already strained domestic industry risks accelerating further closures," the administration said, noting that copper had been classified as a critical material for national security.

Just days later, Kitco Media highlighted the impact of supply shocks and rising demand on copper pricing. In an October 29 commentary, Sprott noted that "copper surged decisively in September, breaking through the US$10,000 per metric ton threshold," marking the highest spot price since May 2024. The report emphasized a structural supply deficit, worsened by disruptions at major mines and investor demand for critical minerals. According to the piece, junior copper miners had advanced 72.46% year-to-date, reflecting increased interest in projects with exploration upside and strategic relevance to the energy transition.

That same day, MarketMinute reported that Morgan Stanley had updated its strategy to favor commodities, identifying copper as a standout performer. "Copper, often viewed as an economic bellwether, is also set for a significant rally," the report stated, citing a projected market deficit by 2026 that would be the most severe in over 20 years. The firm attributed its bullish outlook to tight inventories, robust demand from global decarbonization initiatives, and long-standing underinvestment in supply.

Analyst Sees Significant Scale Potential at Sombrero

In a September 4 research update, Steven Therrien of 3L Capital stated that recent sampling results had substantially increased the exploration potential of the Nioc target and the broader Sombrero Project.

Therrien noted that if even a portion of the interpreted skarn bodies at Nioc's Zones 1 and 2 prove to be mineralized at depth, the system could span hundreds of millions of tonnes. He pointed to historical drilling at the Fierrazo target within the Ccascabamba area, which included intervals such as 116 meters of 0.42% copper and 0.24 g/t gold, as evidence of widespread mineralization. According to the analyst, the project shows signs of multiple mineralized centers and considerable scale, with several targets across the property still untested by sampling or drilling.

Advancing a Pipeline of Discovery Targets in a Proven Belt

Coppernico continues to develop a district-scale exploration portfolio across the Sombrero Project. The company's strategy is supported by a strong capital position, with approximately CA$5.48 million in cash as of June 30, 2025, according to its investor presentation. In recent months, the company secured CA$19 million in financing, including a 9.9% strategic investment by Teck Resources. Inaugural drilling confirmed a significant skarn system, and multiple targets across the land package are being advanced toward drill readiness.

The new Rumi discovery strengthens Coppernico's efforts to explore both older skarn systems and younger Miocene-aged epithermal and porphyry-style targets. Other high-priority areas include Tipicancha, where previous sampling returned up to 1.14% copper over 10 meters, and Macha Machay, which features a 4-kilometer-long alteration zone.

With expanded drill permits in place for the Ccascabamba area and a multi-target pipeline, Coppernico is actively refining its exploration focus across both new and established zones within the broader Sombrero district. The integration of community partnerships and government collaboration remains a core part of the company's operational model. 

Ownership and Share Structure¹

Coppernico Metals is owned by strategic investors, including Teck Resources Ltd. (TECK:TSX; TECK:NYSE) with 9.9% and Newmont Mining (NEM:NYSE, NGT:TSX, NEM:ASX) with 5.6%. 

Overall, the ownership of Coppernico is 18.37% by institutions, 15.54% strategic entities, 5.13% management and insiders, and the rest, 60.96%, is retail.

Coppernico has 177.3 million outstanding shares and 145.47 million free float trading shares. Its market cap is CA$34.57 million. Its 52-week range is CA$0.12–CA$0.54 per share.