Cobre launches major 40,000m drill programme in Chile

Cobre (ASX:CBE) commenced a substantial 40,000-metre surface and underground drilling programme at its flagship Sierra Atacama Project.

The campaign represents a pivotal milestone for the explorer, aimed at maturing the project's geological confidence and commercial potential.

The primary objective of the programme is to transition the current NI 43-101 mineral resource into a JORC-compliant resource and reserve, a critical step for Australian-listed entities to formalise project value.

Beyond compliance, the drilling is engineered to investigate the connectivity between known deposits, potentially paving the way for a large-scale, integrated open-pit operation.

Geological interest is particularly focused on a high-grade mixed zone situated at the base of the oxide layer.

Recent underground ore samples have returned extraordinary results, with Sample 8106-1 recording 52.92% total copper alongside precious metal credits of 148.0 g/t silver and 0.68 g/t gold.

The "grade sweeteners" suggest the presence of exceptionally rich mineralisation that could drastically enhance the project's early-stage economics.

CEO Adam Wooldridge noted that the programme is designed to delineate shallow starter pits before transitioning into a larger expansion project.

By targeting these high-grade zones early, the company seeks to establish a robust foundation for a long-term mining operation.

At the time of reporting, Cobre's share price was $0.17.