Pecoy Copper Defines Large Untested MTP-01 Target Beyond Newly Expanded Northwest Copper Mineralization
Pecoy defines a large untested MTP-01 geophysical target but reports no new assay evidence to confirm the discovery.
Pecoy Copper Corp. (PCU) released an exploration update detailing an integrated geophysical interpretation from its completed Spartan magnetotelluric survey at the Pecoy property. The analysis identified four target areas, designated MTP-01 through MTP-04.
The primary focus is MTP-01, described as a large, largely untested northwest target. The modelled response for this area is approximately 1.2 km wide with a vertical extent of 1.0 km, featuring coincident IP chargeability and magnetics. The core of MTP-01 remains undrilled, though a fourth rig has been allocated to the Northwest/MTP-01 program, with hole PEC26-081 currently testing northward.
The release also cites previously reported assays from hole PEC26-067 as a mineralized vector toward MTP-01: - 209.0 m grading 0.40% Cu from 15.0 m - including 42.3 m grading 1.01% Cu - including 11.1 m grading 1.90% Cu - separate interval 296.0 m grading 0.24% Cu and 0.009% Mo below the historical pit shell to end of hole
Historical drilling data is presented as calibration for MTP-02: - PEC-056: 470.0 m at 0.35% Cu - PEC-058: 67.0 m at 0.35% Cu and separate 68.0 m at 0.35% Cu - PEC-062: 378.0 m at 0.35% Cu - PEC-063: 190.0 m at 0.35% Cu plus separate 41.5 m at 0.36% Cu
Pecoy Copper Corp. (PCU) released an update that does not alter its current 865 Mt inferred resource at 0.34% Cu, adds no new assay data, and fails to prove mineralization at MTP-01. The company characterizes the release as a target-generation update, identifying a 1.2 km wide by 1.0 km vertical anomaly with coincident IP chargeability and magnetics as a legitimate exploration target. Allocating a rig to test this anomaly represents a positive operational step, though the market cannot price an undrilled anomaly as mineralized volume.
The stock has already incorporated the company’s recent major drill results. Since the release of PEC26-067 and PEC26-072 on 1 September, the share price moved from approximately C$1.45 to C$1.60 by 8 September. Against a 52-week range of C$0.67 to C$2.24, the stock at C$1.60 is not priced for a new discovery, nor is this release a true discovery result, but rather exploration optionality.
Pecoy Copper Corp. is advancing its 100%-owned Pecoy copper-gold-molybdenum-silver project in southern Peru’s Arequipa region. The undeveloped porphyry system hosts an inferred mineral resource of 865 million tonnes at 0.34% Cu, containing approximately 6.5 billion pounds of copper, along with associated gold, molybdenum and silver credits. This resource is constrained within a conceptual pit shell at a 0.23% Cu cutoff.
Located at a low elevation of approximately 1,650 m above sea level, the project benefits from access to highways, power, water and Pacific ports. The company also holds the Tororume project, an underexplored district-scale porphyry system with historical drilling but no reported resource.
The 2026 program is fully funded, with approximately 35,000 m of diamond drilling planned. Four rigs are now operating, and a fifth is planned. The company has disclosed no production, reserves or economic study.
Prior financial data show strong cash of approximately C$46.8 million as at 31 October 2025, with a net loss of about C$6.95 million for the six-month period. The investor presentation indicated approximately C$44 million cash as of late January 2026.