Blue Lake Zone
4.37 Mt historical estimate grading 0.87% Cu, 0.52% Ni, and 0.84 g/t Pt+Pd — CUPANI's first drill program is now underway
The Blue Lake Zone is the project's flagship exploration area, hosting one of the most extensively drilled Cu-Ni-PGE occurrences in the Labrador Trough. Defined by over 100 drill holes and a 350-metre exploration adit driven during the 1980s, the historical deposit provides a strong geological foundation upon which CUPANI is building a modern, data-driven exploration program.
Historical Resource Estimate (*)
The Blue Lake deposit carries a historical estimate (non-NI 43-101 compliant) of 4.37 million tonnes grading 0.87% Cu, 0.52% Ni, and 0.84 g/t Pt+Pd, as reported by A.T. Avison in a 1989 La Fosse Platinum Group unpublished report. The estimate spans nine individual mineralized lenses:
| Zone | Metric Tonnes | Cu % | Ni % | Pt+Pd g/t |
|---|---|---|---|---|
| Pogo | 1,241,174 | 0.96 | 0.49 | 0.71 |
| Centre #1 | 279,721 | 1.05 | 0.62 | 1.09 |
| Centre #2 | 1,109,260 | 0.70 | 0.58 | 0.85 |
| Blue Lake #1 | 393,827 | 0.99 | 0.66 | 1.13 |
| Blue Lake #2 | 1,034,417 | 0.80 | 0.41 | 0.80 |
| Blue Lake #3 | 102,875 | 0.82 | 0.41 | 1.21 |
| Blue Lake #4 | 103,873 | 1.06 | 0.41 | 0.82 |
| Blue Lake #5 | 78,925 | 0.78 | 0.56 | 0.79 |
| Blue Lake #6 | 30,844 | 1.85 | 0.50 | 0.53 |
| Total | 4,374,917 | 0.87 | 0.52 | 0.84 |
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. CUPANI is not treating the historical estimate as current mineral resources or mineral reserves. More work will be required in the form of drilling to verify the historical resource estimate.
Exploration History
The Blue Lake area has been explored intermittently since the 1940s:
J.A. Retty's reconnaissance flight documented multiple gossans across the region
Hollinger conducted regional mapping, an airborne geophysical survey, and reconnaissance drilling that helped define the Cu-Ni massive sulphide bodies
Falconbridge ran helicopter-borne geophysical surveys and grid-based horizontal loop EM/magnetics
Groupe Platine de la Fosse made the pivotal discovery of significant PGE values (up to ~15 g/t) in historical Hollinger core stored at Blue Lake. La Fosse purchased Hollinger North Shore Exploration, drilled 400+ holes (1987–89) defining nine Cu-Ni-PGE lenses, and drove a ~350-metre exploration adit for bulk sampling and metallurgical testing
Rockland completed two drilling campaigns including 16 holes; Anglo American flew its own airborne MAG-EM survey in 2011
CUPANI acquired claims and restarted exploration in May 2024. In 2025, detailed mapping, sampling, and a comprehensive airborne survey were completed
2025 Program & Winter 2026 Drilling
CUPANI's 2025 field season laid the groundwork for the company's first drill program on the property:
- • Three geological teams spent 90 days mapping, prospecting, and sampling across the Blue Lake area
- • A TargetEM26 airborne magnetic-electromagnetic survey covered 4,025 line-kilometres
- • New mineralization zones were discovered that require follow-up
- • An exploration-permitted base camp was acquired and upgraded for winter operations
The winter 2026 drill program targets 15–20 diamond drill holes totalling 3,000–4,000 metres. Holes are designed to test both extensions of historical zones and new targets generated from the integration of 2025 geophysical, geochemical, and geological data. Summer-fall 2026 work will include possible further drilling and mapping.
15–20
Drill Holes
3,000–4,000
Metres
4,025
Line-Kilometres
90
Days in Field
Polymetallic Value
Blue Lake is positioned as a balanced, polymetallic Ni-Cu-PGE deposit comparable to major global camps including Raglan, Sudbury, and Voisey's Bay. The presence of copper, nickel, platinum, and palladium provides multiple revenue streams, greater resilience across metal price cycles, and the potential to support a long-life, multi-metal operation.
Disclaimers
NI 43-101 Disclosure: All technical and scientific information with respect to the Company's Blue Lake project contained on this page has been reviewed and approved by Jacquelin Gauthier, Geological Engineer and Ordre des Géologues du Québec member, who serves as Vice President of Exploration for CUPANI and is a "qualified person" as defined by National Instrument 43-101.
The historical estimates referenced on this page were performed with a rectangular polygonal technique; the drilling pattern was 60×60m; the cut-off was 1.5m of 1% combined Cu + Ni with a specific gravity of 4.6. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and CUPANI Metals is not treating the historical estimate as current mineral resources or mineral reserves.
This page contains forward-looking statements. Please refer to our full Forward Looking Statements for important information regarding forward-looking information and risk factors.