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Cooper Metals (ASX: CPM) jumps on completing follow-up drilling on Mt Isa East Cu-Au Prospects - Kalkine Media

April 26, 2024 11:15 AM AEST | By Sonal Goyal
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Cooper Metals (ASX: CPM) jumps on completing follow-up drilling on Mt Isa East Cu-Au Prospects
Image source: Company update

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Highlights

  • Follow-up RC drilling on Cu-Au prospects at the Mt Isa East Project has been concluded.
  • A total of 12 drill holes were completed across four prospects, covering approximately 1,800m.
  • 523 one-metre samples were selected for laboratory assay.
  • Follow-up drilling targeted deeper extensions along the same strike as 2023 drill holes.
  • CPM shares traded 8% higher after the announcement.

Copper and gold exploration company Cooper Metals Limited (ASX: CPM) has concluded follow up reverse circulation (RC) drilling at the Raven, Yarraman, Mafic Sweats South and Mafic Sweats North prospects within the Mt Isa East Project.

This latest drilling campaign was following up on notable occurrence of copper oxide mineralisation covering a substantial thickness of 65m at 0.34% Cu from the surface (hole 23MERC014), previously identified at Mafic Sweats South in 2023.

Moreover, the drilling aimed to test for extensions to Cu-Au mineralisation discovered in 2023 at Raven as well as investigate a coinciding induced polarisation survey (IP) chargeability anomaly and a copper soil geochemistry anomaly at the Yarraman Cu-Au Prospect.

CPM shares jump

CPM shares jumped 8% to trade at AU$0.135 apiece during the early trading hours on 26 April 2024.

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