Cooper Metals (ASX: CPM) reports strong VTEM conductors at Mt Isa East Project

June 01, 2023 12:05 PM AEST | By Ankit Sethi
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  • Cooper's Mt Isa East Cu-Au Project has multiple historical copper-gold workings and prospects for immediate exploration
  • The New Versatile Time-Domain Electromagnetic survey by the company has identified ten high priority conductors
  • With the latest VTEM anomalies, CPM now has a pipeline of more than 40 early-stage mineralisation targets

Cooper Metals Ltd (ASX: CPM) has informed that the new Versatile Time-Domain Electromagnetic (VTEM) survey has identified strong conductors at company's flagship Mt Isa East Project (copper-gold). The detailed VTEM survey has identified these ten high priority conductors on new tenement EPM28087.

The company has confirmed that with these latest ten VTEM anomalies, it has built a pipeline of more than 40 early-stage targets at its Mt Isa East with copper (+/- gold) mineralisation.

Source: Company update

CPM to rank targets for further exploration

The detailed VTEM airborne survey at Cooper Metals' Mt Isa East Project has been able to identify ten high priority conductors on the new tenement EPM28087, which is part of the copper-gold Project. CPM has further stated that a consultant geophysicist, alongside the company's geologists, has done the desktop assessment of VTEM data for potential conductors. Ten anomalies have been pointed out.

The anomalies identified have all been selected for ground truthing which will begin shortly in order to rank targets for follow up geochemistry and/or ground geophysics before the commencement of potential drill testing.

VTEM anomalies (over Channel 41 dB/dt z component VTEM image and geology); Source: Company update

The VTEM survey, completed in May, covered 200sqkm and 725-line km. The new tenement (EPM28087) that has been identified covers part of the Mary Kathleen Domain. It is a highly prospective structural Domain for copper and gold deposits.

Ardmore South RC drill assays expected by June-end

Reverse circulation drilling of induced polarization and geochemical targets is progressing, and the program is expected to be completed over the next one or two weeks. The first batch of samples have been sent for assessment to the laboratory based in Mt Isa. The results are likely to be out later this month.

RC Drilling at Ardmore South May 2023; Source: Company update

The company has said that the next steps would include ground checking of ten VTEM anomalies, completion of drilling at Ardmore South with assay analysis and interpretation, and the ranking of 40+ prospects at Mt Isa East among other things.

 CPM ASX shares closed at AU$0.255 (market cap over AU$12 million) on 1 June 2023.


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