Supper Copper expands Chile footprint with Castilla project buy

Canadian junior Super Copper (CSE: CUPR, OTCQB: CUPPF) has struck a deal to acquire 100% of the Castilla copper project in Chile, locking down a 5,800-hectare land package near the historic Manto Negro mine for $100,000 upfront.The total price tag is $1.3 million, but the bulk of that will only be paid if key milestones are hit, including a discovery through drilling, a preliminary economic assessment with a net present value of at least $50 million, and a first commercial sale. The milestone-based payments are structured at $50,000, $150,000, and $1 million, respectively.Chief executive Zachary Dolesky said the acquisition was a true risk-reward play, “[We’re securing] a copper-oxide trend for a small upfront fee with all future payments tied to genuine discovery and development milestones,” he said.The Castilla property lies in Chile’s mining-rich Atacama region and includes 20 exploration concessions. It’s just south of the former Manto Negro open pit, which produced 1.3 million tonnes of 1.2% soluble copper between 2005 and 2009. That historical production offers a potential blueprint for processing, Dolesky noted, adding that the proximity to Super Copper’s other Chilean asset, the Cordillera Cobre project, creates operational efficiencies.Copper price soars to record as Trump announces 50% tariffSuper Copper expects to close the deal by the end of July and will run both projects with a shared exploration team. That approach is expected to cut per-metre drilling costs and fast-track exploration timelines. Cordillera, located less than 100 kilometres from Castilla, is a larger sulphide target slated for Phase 2 geophysics in 2025.With this acquisition, the Vancouver-based copper player will control two complementary projects in Chile, reinforcing its position in a world-class mining region while maintaining a lean capital profile.Shares in the company climbed 6.5% on the news on Tuesday, closing at 49 Canadian cents each. Year-to-date the stock is up more than 44% and the junior’s market capitalization sits at almost C$18 million ($13m). Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com