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Highlights
- From Brumby Ridge Prospect, best assayed drill intercept to date at the Mt Isa East project has been reported.
- Follow up drilling at Brumby Ridge intercepted 72m @ 1.5% Cu from 113m to end of hole, as estimated by portable XRF.
- More mineralisation has been reported at Raven Prospect.
- RC drilling is expected to be completed at Brumby Ridge and Raven this week.
Shares of Cooper Metals Limited (ASX: CPM) jumped over 100% during the early morning trading hours on 14 November 2023 as the company announced encouraging assay results from the Brumby Ridge and Raven Cu-Au prospects within its Mt Isa East Project.
The latest assays include a drill intercept from Brumby Ridge that is the best assayed drill intercept recorded to date at Mt Isa East, said CPM. At the drill hole – 23MERC024, the company reported 50m at 1.32% Cu and 0.05g/t Au from 80m including 2m at 6.1% Cu and 0.23g/t Au.
Last week, follow up drilling intercepted 72m at 1.5% Cu from 113m in hole 23MERC028, as indicated by portable XRF.
At the Raven prospect, the company intersected 15m at 1.0% Cu and 0.1 g/t Au from 35m within a wider intercept of 28m at 0.63% Cu and 0.061 g/t Au from 34m in hole 23MERC019.
At the Brumby Ridge and Raven Cu-Au prospects, RC drilling is anticipated to be finalised this week with assay results expected in December 2023.
CPM shares soar
CPM shares traded at AU$0.280 apiece, 100% up at the time of writing on 14 November 2023. During the trading session, the shares touched AU$0.32 apiece.