Highlights

• Encouraging assay results received for four diamond holes and five RC drill holes finalised at the Brumby Ridge Cu-Au Prospect.
• Results consistent with visual sulphides reported earlier.
• The assays indicate a NNW trending Cu-Au mineralised vein system, which is crosscut by several narrow-mineralised fault-controlled breccia zones (MFBZ).
• Geochemical sampling and mapping is underway to delineate further drill targets.

Cooper Metals Limited (ASX: CPM) has received assays for the five RC holes and four diamond holes completed at the Brumby Ridge Cu-Au Prospect in February and March 2024. The results align with the visual sulphides reported in April 2024.

Significant results include-

• Scissor hole 24MERC003 - 58m @ 0.53% Cu and 0.02 g/t Au from 89m, including 3m @ 4.14% Cu and 0.08 g/t Au from 90m
• RC drillhole 24MERC001 - 8m @ 0.24% Cu and 0.01 g/t Au from 148m
• RC drillhole 24MERC002 – intersected gold only, including 1m @ 0.83g/t Au from 162m
• RC drill hole 24MERC005 - 17m @ 0.16 Cu from 196m
• Diamond hole 24MEDH001 - 2.3m @ 4.38% Cu and 0.09g/t Au from 128m
• Diamond hole 24MEDH005 -2.7m @ 1.57% Cu and 0.03g/t Au from 235.2m

The results to date suggest a NNW trending Cu-Au mineralised vein system over a strike length of 400 metres. So far, only 120 metres of this vein system has undergone drill testing.

Main elements of Cu-Au mineralisation at Brumby Ridge

The geological interpretation has suggested that the Cu-Au mineralisation at Brumby Ridge comprises three components-

Data source: company update

More on assay results

The Cu-Au vein system, as determined by rock chip and soil sampling, remains open to the NNW direction, indicating the possibility of additional cross cutting MFBZ's. Mapping and sampling initiatives are underway to identify any additional drilling prospects.

The presence of Cu-Au mineralisation at Brumby Ridge suggests that the regional Brumby Fault, trending in the NW direction, serves as a fertile structure for Cu-Au mineralisation. Moreover, the presence of mineralisation indicates strong potential for complex cross cutting vein systems that could potentially host substantial Cu-Au mineralisation.

CPM excited by encouraging outcomes and planned exploration

Backed by its healthy financial position of AU$4.4 million as of 31 March 2024 and a booming copper market, the company is committed to enhancing the prospects of a substantial Cu-Au discovery at the Mt Isa East Project. Focus is on building and systematically testing its pipeline of Cu-Au targets.    

Cooper has identified several zones along the Brumby Fault and its associated fault branches for geochemical sampling. A team is presently sampling priority areas in the field.

CPM shares traded at AU$0.120 apiece on 20 May 2024.