Coppernico Signs Drill Contract for Phase 2 Drill Program at Sombrero
Coppernico Metals (CPPMF) signed a new drilling agreement with Peru-based AK Drilling International to execute its Phase 2 diamond drill program at the copper‑gold Sombrero Project in Ayacucho, Peru, committing to a minimum of 5,000 metres of drilling.
Rhea-AI Summary
Coppernico Metals (CPPMF) signed a new drilling agreement with Peru-based AK Drilling International to execute its Phase 2 diamond drill program at the copper‑gold Sombrero Project in Ayacucho, Peru, committing to a minimum of 5,000 metres of drilling.
Drilling is subject to receiving start‑of‑activities authorization from Peru’s Ministry of Energy and Mines, which the company expects in the coming months, after which equipment and personnel mobilization is planned. The 2026 Phase 2 program will initially focus on expanding known mineralization at Fierrazo and then test high‑priority targets at Ccascabamba, Tipicancha, Huachana, Chumpi, Hojota, Corrales and, separately, Nioc, where first drilling is targeted for the first half of 2027 following community agreements and permitting. Coppernico is financed to advance the initial stages of the program with C$6.5 million from two recent financings, in which Teck Resources participated to maintain a 9.9% ownership stake.
Positive
- 5,000 metres minimum Phase 2 diamond drilling commitment at Sombrero
- C$6.5 million raised in two recent financings to fund initial stages
- Teck Resources participation maintains its 9.9% ownership in Coppernico
- Drill plan covers multiple targets, including Fierrazo, Ccascabamba, Tipicancha and Nioc
- Program structure allows scaling and adding rigs in response to drill results
Negative
- Phase 2 drilling start is contingent on pending MINEM start‑of‑activities authorization
- Company states funding only covers the initial stages of the Phase 2 program
- Nioc drilling depends on future community agreements and permitting, with first campaign not expected until H1 2027
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF, FSE: 9I3) (“Coppernico” or the “Company”) is pleased to announce that its wholly owned Peruvian subsidiary, Sombrero Minerales S.A.C., has signed a new agreement with AK Drilling International S.A. (“AK Drilling”), a Peru-based drilling contractor, to carry out the Company’s Phase 2 drill program at its copper-gold Sombrero Project (“Sombrero” or the “Project”) located in Ayacucho, Peru.
Under the agreement, Coppernico has committed to a minimum of 5,000 metres of diamond drilling, subject to receiving the start-of-activities authorization from Peru’s Ministry of Energy and Mines (“MINEM”), which the Company currently anticipates receiving in the coming months. Mobilization of equipment and personnel is expected to begin following receipt of the final authorization.
Ivan Bebek, CEO and Chair of Coppernico, commented, “We are pleased to continue our collaboration with AK Drilling, following their strong operational performance during our Phase 1 drill program and demonstrated commitment to safety and environmental management. Phase 1 was completed without any safety incidents, and their team performed very well throughout the program. We look forward to working with them again as we take this important next step toward testing the key target areas at Sombrero through a larger, focused, multi-target drill program.
“The next phase of drilling is expected to create considerable job opportunities for our local communities. In parallel, agricultural initiatives supported through AGROIDEAS remain ongoing, reflecting our commitment to creating sustainable, long-term benefits for communities surrounding Sombrero beyond the exploration program itself.
“Coppernico is financed to advance the initial stages of the program, supported by the C
High-Level Phase 2 Drilling Strategy
The 2026 Phase 2 drill program is being designed to systematically advance some of the most compelling targets across the broader Sombrero Project, with an initial focus on expanding known mineralization at Fierrazo and testing a pipeline of high-priority exploration targets (Figure 1).
Figure 1: Expanded drill permit area and planned 2026/2027 drill target zones
Drilling is expected to commence at Fierrazo, where historical drilling has demonstrated significant copper mineralization and geological and geophysical evidence indicates that the system remains open in multiple directions. The planned program will seek to expand the known mineralized footprint, establish continuity and further define the scale potential of the Fierrazo system.
Beyond Fierrazo, the Company plans to thoroughly test a series of key targets across the Ccascabamba and Tipicancha target areas, as well as the Huachana target located south of Nioc. Planned drilling includes initial testing of the mineralized system at Huachana; focused drilling at Chumpi; vectoring within the Hojota and Corrales zones; and initial drill evaluation of Tipicancha.
The drill program has been structured to allow the Company to scale activity in response to results, including the potential deployment of additional drill rigs to accelerate follow-up on successful targets. This flexibility is intended to allow Coppernico to rapidly advance encouraging results while continuing to evaluate the broader Sombrero target pipeline.
Nioc represents another high-priority drill target, where community agreements and permitting activities are underway with the objective of commencing an initial drill campaign in the first half of 2027. Recent channel sampling at Nioc identified multiple areas of copper mineralization at surface, including intervals over tens of metres grading approximately
Collectively, the Phase 2 drill program is designed to test both the scale of advanced mineralized systems and a series of new, untested discovery opportunities across Sombrero, creating multiple avenues for significant value. Further details, including specific drill locations, sequencing and timelines, will be provided as the Company advances toward mobilization and the commencement of drilling in the near future.
Upcoming Conferences and Events
Coppernico plans to maintain an active presence at key industry conferences and investor events through the remainder of 2026 and into 2027. Management will be available for meetings with investors, analysts and industry participants at the following events. Investors interested in requesting an in-person meeting with management at any of the roadshows or conferences listed below are encouraged to contact the Company at info@coppernicometals.com.
- New York Non-Deal Roadshow – September 16-17, 2026, New York City, New York
- 2026 Precious Metals Summit Beaver Creek – September 22-25, 2026, Beaver Creek, Colorado
- CEO Presentation: Thursday, September 24, from 1:30 to 1:45 p.m., Room 2
- European Non-Deal Roadshow – September 27-October 2, 2026, Frankfurt, Zurich and Munich
- Kinvestor Day Virtual Investor Conference – October 22, 2026
- Red Cloud Fall Mining Showcase 2026 – October 28-29, 2026, Toronto, Ontario
- 2026 Precious Metals Summit Zurich – November 9-11, 2026, Zurich, Switzerland
- CEO Presentation: Wednesday, November 11, from 2:30 to 2:45 p.m., Room 2
- 121 Mining Investment London – November 23-24, 2026, London, England
- 121 Mining Investment Dubai – November 26-27, 2026, Dubai, UAE
- Vancouver Resource Investment Conference (VRIC) 2027 – January 24-25, 2027, Vancouver, British Columbia
- Prospectors & Developers Association of Canada (PDAC) 2027 – March 7-10, 2027, Toronto, Ontario
Additional information regarding Coppernico’s participation, including presentation and meeting details as they become available, can be found on the Company’s Upcoming Events page at www.coppernicometals.com/upcoming-events.
Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s Vice President of Exploration, who is a “Qualified Person” as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Ivan Bebek
Chair & CEO
For further information, please contact:
Coppernico Metals Inc.
Phone: +1 778 729 0600
Email: info@coppernicometals.com
Website: www.coppernicometals.com
Twitter: @CoppernicoMetal
LinkedIn: www.linkedin.com/company/coppernico-metals/
About Coppernico
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration, in pursuit of the discovery of large-scale high-grade copper-gold deposits in the Americas. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company's objective is to become a leading advanced copper and gold explorer, and through its wholly owned Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition.
The Sombrero Project is a land package of approximately 57,000 hectares (570 square kilometres) located in the north-western margins of the world-renowned Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems and precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero Project. The Tipicancha target was determined subsequent to the date of that report.
Common shares of Coppernico Metals Inc. are listed on the Toronto Stock Exchange under the symbol “COPR”, trades on the OTCQB Venture Market under symbol “CPPMF” and is quoted over the counter by certain dealers in the Unofficial Market of the Frankfurt Stock Exchange under the symbol “9I3”. More information about Coppernico can be found on the Company’s profile on SEDAR+ (www.sedarplus.ca).
Cautionary Note
No regulatory organization has approved the contents hereof.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions and include, but are not limited to, statements with respect to: the receipt of the remaining authorization from MINEM; the timing, funding and execution of the Phase 2 drill program; planned drilling at Fierrazo and other priority targets; the interpretation of exploration data; the potential scale and continuity of mineralization; and the potential for future drilling to expand known mineralization or result in new discoveries. No certainty can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s 2025 Annual Information Form and other continuous disclosure filings with the Canadian Securities Administrators, available at www.sedarplus.ca. These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place heavy reliance on forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speak only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company’s expectations except as otherwise required by applicable legislation.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6c0d4f01-1c63-4ca5-a3b7-196d05b15970
FAQ
What conditions must be met before Coppernico can start Phase 2 drilling at Sombrero?
Phase 2 drilling is conditional on receiving the start‑of‑activities authorization from Peru’s Ministry of Energy and Mines. The company currently anticipates receiving this authorization in the coming months, after which mobilization of drilling equipment and personnel is expected to begin.
Which target will Coppernico drill first in the Phase 2 program and what is the objective there?
Drilling is expected to commence at Fierrazo, where historical drilling has already shown copper mineralization. The planned work aims to expand the known mineralized footprint, establish continuity and further define the scale potential of the Fierrazo system.
How is Coppernico planning to approach other Sombrero targets besides Fierrazo?
Beyond Fierrazo, the company plans to test targets at Ccascabamba, Tipicancha and the Huachana area south of Nioc, plus conduct focused drilling at Chumpi, vectoring within the Hojota and Corrales zones, and an initial drill evaluation of Tipicancha. The program is structured so activity levels and drill rig count can be adjusted based on results.
What is planned for the Nioc target and when could drilling begin there?
Nioc is described as a high‑priority drill target where community agreements and permitting are underway. The objective is to start an initial drill campaign in the first half of 2027. Recent channel sampling there, referenced by the company, identified surface copper mineralization over tens of metres at approximately 1% copper, which has not yet been drill tested.
How can investors meet Coppernico management at upcoming events?
Management plans to attend multiple roadshows and conferences from September 2026 through March 2027, including non‑deal roadshows in New York and Europe, the 2026 Precious Metals Summits in Beaver Creek and Zurich, the Red Cloud Fall Mining Showcase, 121 Mining Investment events in London and Dubai, the Vancouver Resource Investment Conference 2027 and PDAC 2027. Investors can request in‑person meetings by emailing info@coppernicometals.com and can find updated event and presentation details on the company’s Upcoming Events page.
Who reviewed and approved the technical information in this announcement?
The scientific and technical information was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s Vice President of Exploration, who is identified as a Qualified Person under NI 43‑101.