Cooper Metals (ASX: CPM) completes RC drilling at Ardmore South, results likely in June

Highlights

• Cooper Metals Limited, a listed explorer, has three copper and gold related projects in proven mineralised terrains
• The company has completed 13 reverse circulation (RC) hole drilling (1,745m) at the Mt Isa East (Cu and Au) Project situated Ardmore South
• Managing Director Ian Warland has commented that 563 samples from the drilling have been sent to the laboratory in Mt Isa

Listed copper and gold explorer Cooper Metals (ASX: CPM) has announced the successful completion of drilling campaign at Ardmore South. 13 RC holes were drilled at the site (within Cooper Limited's Mt Isa East Copper Gold Project), and the high priority targets during the campaign included the strong IP chargeability anomaly recently identified at Ardmore South.

The next steps, according to Cooper Metals' latest announcement, will include the reverse circulation drilling results (Ardmore South), VTEM ground truthing, and the already in progress geochemical sampling and mapping.

CPM shares jump over 10%

CPM’s shares surged over 10% after the announcement and traded at AU$0.265 (market cap over AU$11 million) at the time of writing.

Source: Company update

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The copper and gold explorer -- having the flagship Mt Isa East Copper Gold Project in Queensland, and the Yamarna Gold Project and the Gooroo Project in Western Australia -- has successfully conducted the reverse circulation (RC) drilling at Ardmore South (in Mt Isa East Project). The drill holes by Cooper Metals ranged between 88m and 232m in length (average length of 130m).

The company has confirmed that it has selected 563 drill hole samples for analysis in the Mt Isa laboratory. Assay results are likely to be out later this month. Notably, the high priority targets of Cooper's drilling campaign at Ardmore South included the strong IP chargeability anomaly recently identified at the site. It is approximately 500m in length and has strong depth potential as indicated by PDP line L7554350.

CPM’s Mt Isa East Project comprises 1600 sq.km of tenure, which has multiple historical Cu-Au workings and prospects already recognised for immediate follow up exploration. The company has also mentioned that besides the assay results at Ardmore South, next tasks and exploration would include VTEM ground truthing alongside the already in process geochemical sampling and mapping.

Statement by CPM's Managing Director

Ian Warland has lauded the successful completion of the drilling campaign and commented that it tested a strong IP chargeability anomaly with coincident Cu-Au anomalism.

Source: Company update