Culpeo Minerals to Acquire Jupiter Copper Project in Chile

Culpeo Minerals is set to expand its Chilean copper exploration portfolio through a farm-in agreement with Excava Holdings for the Jupiter copper project. The deal grants Culpeo the right to acquire 100% ownership of the 4,000-hectare project, located in the low-altitude Coastal Cordillera region of Chile.

Under the agreement, Excava will transfer the Jupiter concessions into a special purpose vehicle (SPV), from which Culpeo can acquire staged interests by meeting specified exploration and financial milestones. Initial terms include a payment of approximately $64,000, with increasing commitments over five years totaling around $3.18 million.

Early-stage exploration conducted as part of due diligence has identified two substantial zones of copper and gold mineralization. During a five-day field visit in November 2024, Culpeo’s team collected 37 rock chip and channel samples, with results showing copper grades as high as 4.33% and gold up to 3.24 grams per tonne. Thirteen of the samples returned copper concentrations exceeding 0.5%.

Culpeo views the Jupiter project as a strategic addition to its regional holdings, complementing ongoing exploration at its Lana Corina and Fortuna projects. The company’s focus remains on high-grade copper targets with nearby infrastructure access in one of the world’s most prolific copper belts.