Cooper Metals (ASX: CPM) receives encouraging assay results from King Solomon 1, uncovers Cu-Au potential

Highlights

• Cooper Metals has received assay results for four diamond drill holes at King Solomon 1
• DHEM has been completed at the prospect, indicating an untested area which could extend the mineralisation significantly
• Diamond drilling has identified a newly untested portion at King Solomon 1 with the possibility of mineralisation to extend down dip and along the strike

Cooper Metals Limited (ASX: CPM), a gold and copper explorer has received assay results for the four diamond drill holes at King Solomon 1.

 The latest evaluation of the diamond core has underscored that the presence of Cu-Au mineralisation is governed by the sheared interface between the comparatively fragile volcanic rocks of the Argylla Formation to the east and the more pliable metasedimentary rocks of the Corella Formation to the west. Diamond hole 23MEDH001 has intersected a previously unidentified Cu-Au zone in the northern section of King Solomon 1. This untested zone has significant potential to extend the mineralisation down dip and along the strike. 

Moreover, the company informed that it has completed the trial downhole electromagnetic survey (DHEM) at King Solomon 1. DHEM has identified a conductive response in 23MEDH002 and 23MEDH004 drill holes. In the 23MEDH004 drill hole, there exists a potential to extend mineralisation at depth for a minimum of another 100m below the hole.

Data source: Company update

Detailed drilling assay results

Results from diamond hole 23MEDH001 – The hole aimed at testing the northern part of King Solomon 1. A new mineralised load has been intersected at this hole adjoining the Corella and Argylla.

The significant results from this drill hole include –

• 4m @ 1.3% Cu & 0.13g/t Au from 175.5m
• 1m @ 0.4% Cu & 0.02g/t Au from 140m
• 2m @ 1.1% Cu & 1.74g/t Au from 45.8m

Results from diamond hole 23MEDH002 – This hole was designed to examine the central shoot where RC hole 22MERC016 intersected 17m at 2.2% Cu, including 8m at 4.3% Cu and 0.14g/t Au. Significant assays from this hole includes, 21.4m @ 2.1% Cu and 0.08 g/t Au from 81.6m, including 5.9m @ 5.7% Cu and 0.2 g/t Au from 83.6m. The DHEM survey at this hole discovered a conductive response over the main drill intercept. A combination of DHEM survey and historical mining at the surface shows that mineralisation continues up dip to the surface and below the diamond hole and remains open at depth.

Results from diamond hole 23MEDH004 – The hole was drilled to examine the southern Cu-Au shoot and intersected 5.7m @ 1.8% Cu and 0.17g/t Au from 111.1m. The DHEM survey detected a conductive response linked to the Cu-Au mineralisation. The modelling of the conductive response highlights that the conductor extends for a minimum of 100m deeper.

CPM shares up 4%

CPM shares jumped 4% to trade at AU$0.130 apiece at the time of writing on 24 October 2023.