Copper Explorer Refines High-Grade Targets at Peru's Sombrero Project

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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) announced initial findings from recent gravity, magnetic, and high-resolution photogrammetry surveys conducted at its Sombrero Project in Peru, according to a February 25 release.

These high-resolution datasets have greatly enhanced the understanding of subsurface geological features and refined the 3D architecture and structural controls of several large-scale skarn and porphyry targets. The company said it is now incorporating these results into a multi-target drilling program scheduled for 2026 through 2027.

"The new gravity and magnetic datasets represent a major advancement in our understanding of the geology between Antapampa and Tipicancha and have highlighted several large-scale targets that remain untested," Chairman and Chief Executive Officer Ivan Bebek said. "With this technical foundation in place, Coppernico is now strongly positioned to launch a comprehensive, multi-target drill program that could deliver several opportunities for a transformational discovery."

Bebek continued, "In parallel, we have made meaningful progress with our key community partnerships in the region and are advancing permitting and technical targeting across the broader Sombrero land position. Our long-term vision is to extend the highly endowed Andahuaylas–Yauri belt which hosts multiple significant operating mines approximately 200 kilometers to the east, by potentially unlocking multiple new high-grade copper-gold discoveries as the outlook for copper prices continues to strengthen.”

The new gravity and magnetic surveys have significantly improved the definition of multiple large-scale skarn and porphyry systems beneath the surface, specifically refining key targets such as:

Fierrazo: A magnetite-rich skarn body extending approximately 700 meters under cover, with only about 200 meters of its strike length historically drilled.

Nioc: A skarn-porphyry system over 1.5 kilometers long, featuring coincident magnetic, gravity, and chargeability anomalies, which remains completely untested by drilling.

Tipicancha: A lithocap environment characterized by well-defined magnetic low data and strong structural controls, with a large alteration footprint of at least 1.5 kilometers indicating porphyry potential.

These datasets enhance targeting confidence by refining and focusing drill testing within existing systems, the company said. This positions Coppernico to concentrate its next phase of drilling, planned for 2026 through 2027, on the most promising sections of multiple major skarn-porphyry areas, contingent on additional financing.

Entering 2026, Coppernico noted it is advancing with technical momentum, progressing permits, and maintaining strong community alignment to support a multi-target, discovery-focused drilling campaign.

2026 Exploration Program Targets Discovery at Sombrero

The refinement gained from these new geophysical datasets provides Coppernico with increased technical confidence and a clearer framework for drill targeting, enabling a more focused and capital-efficient approach to testing this large and complex system, the company said.

With a strengthened exploration pipeline, expanding community partnerships, and active drill permitting over multiple target areas within the Sombrero district, the Company is positioned to execute its first full-scale, high-impact, discovery-focused drill program, with multiple large and high priority targets advancing simultaneously.

The recently completed surveys provide greatly improved data resolution across several key target areas, including magnetics, gravity, and photogrammetry, the release said.

Integration of these datasets is being used to update 3D geological modeling and to improve confidence in drill targeting beneath post-mineral cover by mapping key structural corridors and the 3D architecture of the mineralized systems. This integrated approach is particularly important in a district of Sombrero’s scale, where multiple intrusive and skarn centers may coexist and mineralization may be vertically and laterally zoned.

Vice President Exploration Tim Kingsley said the company was "very pleased with the outcome of the surveys."

"Initial results are being used to provide clearer definition of these significant, multi-kilometer-scale skarn and porphyry targets which remain mostly untested by drilling," Kingsley said. "The initial 20 holes from our inaugural Phase 1 drill program provided critical subsurface perspective, enabling us to calibrate and prioritize the appropriate technical studies to target within the largely covered skarn and porphyry systems. With the addition of these new gravity, magnetic and photogrammetry datasets, we now have a much stronger technical framework to prioritize drill locations and focus on the most prospective portions of each system within Sombrero."

The Sombrero Project is extensive and geologically intricate, with widespread yet shallow volcanic and post-mineral cover concealing much of the underlying mineral systems, Coppernico said. Key mineralizing centers such as the Nioc, Ccascabamba, and Tipicancha targets represent broad systems that will require systematic vectoring to mineralization, which may occur in multiple locations and at various depths within each target.

Permitting Update

Coppernico said it has active drill permits at Ccascabamba and is in the process of finalizing the previously submitted EIA-Sd drill permit to expand the permitted drill area to include Fierrazo, Tipicancha, and Chumpi.

Coppernico is also working on additional multi-community agreements and, once established, will seek further drill permits across the district-scale Sombrero land package.

The company also said it would be participating in several events during the upcoming 2026 Prospectors & Developers Association of Canada (PDAC) Convention in Toronto, where management will be available to meet with investors and industry participants throughout the week.

Analyst Highlights Regional Copper Scale

In a September 4 research update, 3L Capital analyst Steven Therrien reviewed exploration data across the Sombrero district and described Nioc as a central area of interest within a broader copper skarn system. Drawing on historical drilling at Fierrazo together with recent work at Nioc and Ccascabamba, he characterized the mineralization as part of a large, interconnected copper system.

Therrien stated that "interpreted skarn systems at Nioc's Zones 1 and 2 could represent a system measured in the hundreds of millions of tonnes" if even a portion of the interpreted skarn bodies proves to be mineralized at depth and added that multiple high-priority zones had not yet been evaluated using modern drill programs. 

The Catalyst: Metal's Most Significant Surge in a Decade?

Copper is poised for its most significant annual price surge in over a decade, driven by supply disruptions, a weakening U.S. dollar, positive projections for China's economic growth, and substantial investments in artificial intelligence, as reported by Sam Meredith for CNBC on December 30, 2025. Analysts believe that the upward trend in copper prices could continue this year, particularly due to supply concerns and the rapid growth of global data centers.

Copper demand is often viewed as a barometer of economic health, Meredith highlighted. The metal is essential to the energy transition ecosystem and is critical in the production of electric vehicles, power grids, and wind turbines. The processes of electrification, grid expansion, and data center construction all necessitate large quantities of copper for wiring, power transmission, and cooling infrastructure.

Copper prices have been on the rise, driven by fundamental supply and demand dynamics, with additional momentum from concerns over tariffs, Dean Belder wrote for Investing News Network on February 25. The price hit a record high on January 29 but has since moderated due to several factors that have introduced fresh concerns and volatility into the market.

One significant factor is the traditional slowdown in base metals trading as Chinese manufacturing and construction pause for Lunar New Year celebrations, which effectively halts commodity demand during this period. As China is the world's largest consumer of copper, this slowdown in key sectors has exerted considerable downward pressure on copper prices in recent weeks.

However, the end of the holiday period coincided with a decision by the Supreme Court of the United States (SCOTUS) that struck down global tariffs imposed by President Donald Trump in 2025. While this decision does not affect the 50% tariffs on raw copper entering the United States, it does impact tariffs on other goods from countries like China and India, which faced high tariffs. For China, this means tariffs are expected to decrease from 32% to 24%, potentially boosting overall demand from manufacturers.

Ownership and Share Structure¹

Coppernico Metals is owned by strategic investors, including Teck Resources Ltd. (TECK:TSX; TECK:NYSE) with 9.9% and Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) with approximately 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 its market cap is CA$79.79 million. Its 52-week range is CA$0.12–CA$0.56 per share.