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An announcement from Cobre Limited ( (AU:CBE) ) is now available.
Cobre Limited has launched a 40,000m drilling campaign at its Sierra Atacama copper project in Chile, combining reverse circulation and diamond drilling from surface and underground. The program aims to convert the current foreign NI 43-101 resource of about 110 million tonnes at 0.67% copper into a JORC-compliant resource and reserve, enabling formal reporting under Australian standards.
The campaign is also designed to test continuity between known deposits for a potential large-scale open pit, define shallow starter pits for near-term production, and delineate high-grade mixed zones with silver and gold credits. This work underpins a strategic shift from underground to open-pit mining, which could significantly increase scale, improve economics through economies of scale, and enhance the project’s long-term value for stakeholders.
More about Cobre Limited
Cobre Limited is an ASX-listed mineral exploration and mining company focused on copper, with operations centered on the Sierra Atacama Project in northern Chile. The project lies in the established Atacama copper belt near major deposits such as Marimaca and Mantos Blancos, benefiting from existing infrastructure, permits, and an experienced local mining workforce across an extensive package of mining concessions.
Average Trading Volume: 3,062,475
Technical Sentiment Signal: Buy
Current Market Cap: A$163M
See more insights into CBE stock on TipRanks’ Stock Analysis page.