Rio2 launches major drill assault at Peruvian copper mine

The West Australian09-24 07:08

TSX-listed Rio2 Limited has unleashed a company-wide exploration blitz, kicking off the first phase of a massive 33,870-metre surface drilling program at its Condestable copper mine in Peru, while ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2669450045?lang=en_US&edition=fundamental","thumbnail":"https://images.thewest.com.au/publication/C-22922145/bcab226e8bc37bcf60c5f3032a1ce4450fa54b35.jpg","is_english":true,"pubTime":"2026-09-24 07:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2669450045","market":"hk","top_or_hot":-1,"title":"Rio2 launches major drill assault at Peruvian copper mine","media":"The West Australian","content":"<div>\n<p>TSX-listed Rio2 Limited has unleashed a company-wide exploration blitz, kicking off the first phase of a massive 33,870-metre surface drilling program at its Condestable copper mine in Peru, while ...</p>\n\n<a href=\"https://thewest.com.au/business/bulls-n-bears/rio2-launches-major-drill-assault-at-peruvian-copper-mine-c-22922145\">Source Link</a>\n\n</div>\n","source":"thewest_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rio2 launches major drill assault at Peruvian copper mine</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRio2 launches major drill assault at Peruvian copper mine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-24 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/business/bulls-n-bears/rio2-launches-major-drill-assault-at-peruvian-copper-mine-c-22922145><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TSX-listed Rio2 Limited has unleashed a company-wide exploration blitz, kicking off the first phase of a massive 33,870-metre surface drilling program at its Condestable copper mine in Peru, while ...</p>\n\n<a href=\"https://thewest.com.au/business/bulls-n-bears/rio2-launches-major-drill-assault-at-peruvian-copper-mine-c-22922145\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XME","symbol_name":"金属与采矿指数ETF-SPDR","start_time":0,"source_url":"https://thewest.com.au/business/bulls-n-bears/rio2-launches-major-drill-assault-at-peruvian-copper-mine-c-22922145","article_id":"2669450045","we_media_id":null,"thumbnails":["https://images.thewest.com.au/publication/C-22922145/bcab226e8bc37bcf60c5f3032a1ce4450fa54b35.jpg"],"rights":{"source":"thewest_stock","url":"https://thewest.com.au/business/bulls-n-bears/rio2-launches-major-drill-assault-at-peruvian-copper-mine-c-22922145","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2669450045","pubTimestamp":1790204916,"columns":[],"sourceInfo":{"source_id":"thewest_stock","name":"The West Australian"},"weMediaInfo":null,"summary":"Rio2 has launched a 33,870m drilling assault at its burgeoning Condestable copper mine in Peru, with plans to drill its emerging Canadian tungsten asset locked and loaded for early next year.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"XME":"金属与采矿指数ETF-SPDR","ICOP":"iShares Copper and Metals Mining ETF","CPER":"美国铜指数基金","BK4535":"淡马锡持仓","UYM":"基础材料指数ETF-ProShares两倍做多","RC":"Ready Capital Corp","COPJ":"SPROTT JUNIOR COPPER MINERS ETF","BK4110":"抵押房地产投资信托","CPXR":"USCF DAILY TARGET 2X COPPER INDEX ETF","COPP":"Sprott Copper Miners ETF"},"translate_title":"Rio2 对秘鲁铜矿发起重大钻探攻击","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UYM":1.5,"COPP":1.5,"XME":1.5,"COPJ":1.5,"CPXR":1.5,"ICOP":1.5,"CPER":1.5,"RC":1},"content_text":"TSX-listed Rio2 Limited has unleashed a company-wide exploration blitz, kicking off the first phase of a massive 33,870-metre surface drilling program at its Condestable copper mine in Peru, while also advancing its Canadian tungsten asset towards a 2027 drill campaign.The new exploration push at Condestable follows a comprehensive geological mapping and geophysical survey campaign. It has been structured in two parts, with the first phase comprising 85 drill holes for 16,750m, now underway. The second phase will involve another 72 holes for 17,120m, which will require new access and permits, a process the company anticipates will take about six months.The work is designed to test for extensions to mineralisation at the project, which already boasts a 14-year mine life and an after-tax net present value of US$710 million (A$1 billion).Notably, a recently completed 57,740-hectare drone magnetic survey, combined with geological and geochemical data, has identified six new priority exploration targets in the district: Cerro Pacay, Cerro Perico, Loma de Vinchos, San Marcos, Condestable 10 and Punta Colorada. The new hotspots suggest the mineralised system could extend well beyond the current mine footprint, stretching along strike and regionally across the expansive 460-square-kilometre project.Meanwhile, at Rio2’s Fenix Gold project in Chile, surface drilling has been put on hold due to adverse weather, worker safety considerations and contractor standby costs. The company plans to fire up the remainder of the program in January 2027, taking advantage of Chile’s warmer summer conditions.Before the suspension, the company had completed 43 drill holes for 14,669m of a planned 21,880m campaign. The program used a combination of reverse circulation (RC) and diamond drilling/tailing, designed to increase geological confidence in resources beneath the existing reserve pit.Rio2 says 60 per cent of the samples from the completed drilling have been assayed and it expects to receive all analytical results within the next two months. The company is aiming to deliver an updated mineral resource estimate for the Fenix mine in 2027.Rounding out the multi-pronged exploration update, Rio2 has also made material progress at its revitalised Kalzas tungsten project in Canada’s Yukon. During 2026, the company advanced the project through technical studies, fieldwork, permitting and community engagement and has since secured a class one exploration permit for detailed exploration and mapping of its interpreted intrusion-related tungsten system.With the groundwork laid, Rio2 now plans to carry out an initial 2000m scout core drilling program during the 2027 summer field season, with an estimated budget of US$1.5 million (A$2.2 million).The outcome of the Canadian program will help determine whether the project remains within Rio2’s growing stable of assets or is ultimately spun out, allowing management to sharpen its focus on the company’s burgeoning Chilean copper portfolio.In the meantime, Rio2 has plenty on its plate. The rigs are turning at its Peruvian cash-generating operation, assays are stacking up from its Chilean copper growth projects, assays are still pouring in from Fenix Gold and a maiden drill campaign is about to get underway in Canada. Few juniors have so many irons in the fire at once, giving the company multiple shots at delivering a meaningful discovery or expansion across three countries.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2669450045","isCrawlerRequest":true}