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Highlights:
- Cooper Metals has successfully concluded the reverse circulation drilling program at King Solomon and Python Cu-Au prospects.
- Over 600, one metre drill samples have been has submitted by the Company to the laboratory.
- The first assay results are expected in December.
- CPM has initiated an Induced Polarization (IP) survey at King Solomon 1 to search deeper (200m plus).
ASX-listed mineral explorer Cooper Metals Limited (ASX:CPM) has completed the RC drilling program at King Solomon and Python copper-gold prospects. Also, the Company has announced the commencement of an induced polarization survey (IP) at Queensland’s Mt Isa East Copper Gold Project.
A total of 19 RC holes for 2,816m have been finished on a variety of targets at Python, the Camp gossan, King Solomon 1, and King Solomon 2. Around 620, one metre RC drilling samples have been collected from these drill holes. These samples have been deposited in two separate batches at the Australian Laboratory Services in Mount Isa. Now, the laboratory will analyse the samples for a range of materials, including gold and copper.
Image Source: © 2022 Kalkine Media®
Key Details of King Solomon 1 Drill Program
Cooper completed RC drilling program at King Solomon 1 prospect with 15 drill holes for 1,740m. This included drilling under historical workings and testing three plunging shoots that were detected in the RC drilling program conducted in August 2022.
However, this program was based on a different approach wherein most drillholes were drilled from the western side towards the northeast with the objective to explore the footwall zone west of the main mineralised shear zone where drilling in August intersected narrow high-grade gold including 1m @ 0.7% Cu & 1.95g/t Au from 32m (22MERC046).
Several visual sulphides have been intersected in holes during drilling. According to the company, the major visual intersection was in the northern portion of King Solomon 1, where hole 22MERC055 intersected three zones of visual sulphides including a new western zone adjacent to the main mineralised shear zone.
The visual estimates of sulphide mineralisation had a ~10% variation from trace (10%).
Image Source: © 2022 Kalkine Media®
Image source: Company update
Updates from Python Prospect
Pyrrhotite, pyrite and minor graphite intersected at the drill hole 22MERC051 that is testing the Python electromagnetic conductor (EM). However, copper minerals were not logged at the site.
The company will submit the check assay samples for confirmation at the laboratory. The laboratory will also test the samples for gold. It is expected that the EM conductor will be explained by the presence of pyrrhotite, pyrite and graphite.
An overview of IP Survey
At King Solomon 1 and the northern part of King Solomon 2, Cooper has planned six lines of Induced Polarisation (IP) for testing the extensions to the mineralisation at depth. As per CPM, it is most likely that the IP will go beyond 200m from surface to delineate high-grade portions of the mineralisation at depth. The IP work was started at the site by the respective team on 22 November 2022. The company expects to complete the survey in about two weeks, while the results of the IP survey will be released next month.
Remarks by management
Image Source: © 2022 Kalkine Media®
In the coming months, Cooper Metals is looking forward to getting assay results for the November drilling and interpret. Also, it is anticipating completion of the IP survey at King Solomon before further drill planning.
CPM was trading at AU$0.320 a share on 28 November 2022 with a market capitalisation of AU$13.80 million.
