Under the agreement, Coppernico has committed to a minimum of 5000 m of diamond drilling, subject to receiving the start-of-activities authorisation from Peru’s Ministry of Energy and Mines (MINEM), which the company currently anticipates receiving in the coming months. Mobilisation of equipment and personnel is expected to begin following receipt of the final authorisation.
Ivan Bebek, CEO and Chair of Coppernico, commented, “We are pleased to continue our collaboration with AK Drilling, following their strong operational performance during our Phase 1 drill programme and demonstrated commitment to safety and environmental management. Phase 1 was completed without any safety incidents, and their team performed very well throughout the programme. We look forward to working with them again as we take this important next step toward testing the key target areas at Sombrero through a larger, focused, multi-target drill programme.
The next phase of drilling is expected to create considerable job opportunities for our local communities. In parallel, agricultural initiatives supported through AGROIDEAS remain ongoing, reflecting our commitment to creating sustainable, long-term benefits for communities surrounding Sombrero beyond the exploration program itself.
Coppernico is financed to advance the initial stages of the programme, supported by the C$6.5 million secured through two recently completed financings. These financings included participation by Teck Resources Limited, maintaining its 9.9% ownership position in the company.”
