Super Copper to Acquire 100% of the Castilla Copper Project
-
Clean, 100% title:
Super Copper to acquire outright ownership with no royalties, back-ins or encumbrances, preserving full project economics. -
Low entry cost, success-linked upside, and zero share dilution:
US
$100k at closing, no share dilution; further cash only by milestones such as a significant drill intercept, a Preliminary Economic Assessment with ≥$50M NPV, or first commercial sale from production. -
Past–producing neighbourhood:
records indicate that roughly 1.3 Mt averaging 1.2% acid-soluble Cu were trucked from
Manto Negro Mine to Pucobre's nearby Biocobre SX-EW plant between 2005 and 2009, providing a processing analogue for Castilla*. -
Developed infrastructure and access:
Located 5 km from the
Pan-American Highway and a high-voltage power corridor, with SX-EW facilities within 70 km, enabling low-capital development scenarios.
Key Highlights:
- 100% outright ownership, no royalties: Super Copper will hold the Castilla concessions free and clear of any net-smelter return ("NSR") or back-in rights.
- Potential metallurgical analogue: Castilla covers the untested western fault block of the breccia horizon exploited at Manto Negro, where copper was recovered by straightforward heap-leach/SX-EW processing.
- Exploration Opportunity: A property visit has confirmed the presence of artisanal mine workings and the presence of anomalous copper, gold, and silver. Reconnaissance samples have yet to be collected by Super Copper; the ground has never been drilled.
-
Capital-efficient entry: Cash consideration of US
$100,000 on closing; additional cash is payable only upon discovery drilling success, delivery of a positive Preliminary Economic Assessment ("PEA") of ≥US$50 million Net Present Value ("NPV"), and achievement of first commercial sale from production. - Logistical synergies: Castilla sits ~65 km by paved road from Copiapó and ~95 km from Super Copper's Cordillera Cobre project, allowing shared personnel, contractors and permitting resources.
Zachary Dolesky, Chief Executive Officer of Super Copper, stated: "Castilla offers an exceptional risk-reward profile: we secure 5,800 hectares on a copper-oxide trend for a small upfront fee with all future payments tied to genuine discovery and development milestones. The historical record at the neighbouring Manto Negro pit provides a processing template, while the proximity to Cordillera Cobre lets us stretch each exploration dollar further. We believe Castilla has the potential to deliver results once drilled, and we are eager to begin work."
Location and Setting:
Infrastructure is excellent, the
Topography across Castilla is gently undulating desert with thin gravel cover at an average elevation of about 375 m, allowing year-round exploration with minimal environmental and community footprint.
Transaction Terms:
Milestone |
Trigger |
Cash to |
Timing |
(a) Closing |
100% title transfers to Super Copper; no |
|
Payable on closing date. |
(b) |
First drill hole intercept that is: |
|
Payable within 15 days of |
(c) PEA |
Positive NI 43-101 PEA with after-tax |
|
Payable within 30 days of |
(d) |
First commercial sale of concentrate or |
|
Payable within 30 days of |
Pursuant to the binding definitive agreement, the Project is to be acquired by the Company through its recently incorporated Chilean subsidiary. Closing of the acquisition is subject to due diligence by the Company, Canadian Securities Exchange approval (if required), standard closing deliverables and other customary conditions typical for a transaction of this nature. The closing of the acquisition is currently expected to occur on or about
Strategic Rationale:
Upon closing of the acquisition, Super Copper will hold ownership of two complementary projects in
-
Castilla Project – near-surface, heap-leach style mineralisation offering rapid, lower-capital potential; and -
Cordillera Cobre Project – a larger sulphide target advancing through Phase 2 geophysics in 2025.
With both assets located within a less than 100 km radius, the Company will deploy a single exploration team and shared service contracts, potentially reducing per-metre costs and accelerating decision timelines (Figure 2).
Planned Work Programme
Super Copper is evaluating a work programme for the
About
Super Copper (CSE: CUPR | OTCQB: CUPPF | FSE: N60) is an exploration company focused on acquiring, advancing and consolidating global copper assets from early discovery through late-stage development. The company is currently advancing its copper projects in Atacama,
The technical content of this news release has been reviewed and approved by
This news release contains data that is historical in nature and not verified by the Company*. Referenced nearby historic deposits and mines and projects provide geologic context for the
* |
Copiapó Province and Copiapó Comuna Chile; unpublished Technical Report by Caracle Creek Chile SpA on behalf of Fitzroy Minerals Inc., 173p. |
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance and reflect current expectations and assumptions. Forward-looking statements in this release include, but are not limited to: the successful completion of the acquisition of the
Forward-looking statements are subject to various known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control. These risks include, without limitation: the risk that exploration results may not confirm historical data or mineralization; the possibility that the
Although the Company believes the assumptions and expectations underlying forward-looking statements are reasonable, they should not be regarded as guarantees of future performance. The words "believe," "expect," "anticipate," "plan," "intend," "may," "will," "estimate," "potential," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
Readers are cautioned not to place undue reliance on these statements. Super Copper disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Investors should refer to the Company's continuous disclosure filings available on SEDAR+ for a full discussion of risk factors and uncertainties.
SOURCE