Cooper Metals (ASX:CPM) receives outstanding copper and gold assays from King Solomon - Kalkine Media

Highlights

• Cooper Metals has announced assay results from RC drilling at King Solomon and Python Cu-Au prospects at the Mt Isa East Copper Gold Project.
• King Solomon 1 – continuous Cu-Au mineralisation confirmed to at least 170m below historical workings and remains open at depth in hole 22MERC048A.
• Total 19 RC holes for 2,816m have been completed on a range of targets at King Solomon 1, King Solomon 2, King Solomon 3, Python and the Camp gossan.
• CPM shares gained over 4% on the upbeat update.

Australian-based mineral exploration company, Cooper Metals Limited (ASX:CPM) has landed further strong assays from reverse circulation (RC) drilling conducted at King Solomon and Python Cu-Au prospects at Queensland’s Mt Isa East Copper Gold Project.

On back of the latest update, CPM shares jumped over 4% to trade at AU$0.250 a share in the early hours of 11 January 2023 with a market capitalisation of AU$11.04 million.

The latest results affirm copper-gold mineralisation down to minimum 170m deep, in hole 22MERC048A. The results build on assays released earlier in December 2022 including assays from drill hole 22MERC055 in the northern part of King Solomon 1, which contained three significant intercepts of Cu-Au mineralisation. It is important to note that the western zone of mineralisation intersected individual one metre gold grades up to 4.1g/t.

Data source: Company update; Image source: CPM, © 2023 Krish Capital Pty. Ltd.

Significant Cu-Au intercepts from 22MERC055 include:

• 17m @ 1.7% Cu and 0.38g/t Au from 49m incl: 4m @ 6.2% Cu and 1.31g/t Au (western zone)
• 9m @ 2.5% Cu and 0.25g/t Au from 94m incl: 5m @ 4.2% Cu and 0.39g/t Au (middle zone)
• 12m @ 0.6% Cu and 0.02g/t Au from 148m incl: 2m @ 1.3% Cu and 0.04g/t Au (eastern zone) Other significant intercepts at King Solomon 1 from the recent drilling include:
• 14m @ 1.3% Cu and 0.07g/t Au from 97m, incl: 7m @ 2.1% Cu and 0.11g/t Au (22MERC048)
• 13m @ 0.8% Cu and 0.02g/t Au from 29m incl: 1m @ 3.0% Cu and 0.08g/t Au (22MERC048)
• 6m @ 1.2% Cu and 0.06g/t Au from 166m (22MERC050)
• 8m @ 0.6% Cu and 0.1g/t Au from 128m, incl: 2m @ 1.2% Cu and 0.24g/t Au (22MERC057)
• 10m @ 0.5% Cu and 0.15g/t Au from 55m, incl: 3m @ 1.2% Cu and 0.4g/t Au (22MERC058)
• 12m @ 0.3% Cu and 0.01g/t Au from 158m, incl: 1m @ 1.0% Cu and 0.01g/t Au (22MERC064)

Mt Isa East Project over regional geology and main prospects

Drilling Program

Total 19 RC holes for 2,816m have been completed on a range of targets at King Solomon 1, King Solomon 2, King Solomon 3, Python and the Camp gossan. Of the total, 15 holes were drilled for 2,314m at King Solomon, forming the bulk of the drilling. While the first batch of assay results were announced in December 2022, the assay results for all of the fifteen holes have now been received.

In 2022, Cooper completed three drilling programs at King Solomon. The November drill program included 11 drill holes for 1,824m of RC drilling at King Solomon 1 prospect, drilling under historical workings and testing three plunging shoots identified in the August RC drilling program.

King Solomon 1 has steeply dipping Cu-Au mineralisation hosted within a NNW trending shear zone within the Corella Formation. Mineralisation has been traced for approximately 650m along strike, with higher grades in three interpreted plunging shoots.

With the new drilling, CPM can define the edges of the three higher grade plunging shoots, with further drilling needed to identify the depth potential of Cu-Au mineralisation. Deeper holes 22MERC055, 22MERC048A and 22MERC50 reflect major mineralisation is open at depth.

Notably, the IP survey declared recently shows that the southern chargeability response extends at depth, plunging to the SSE. As per CPM, this may hint at strong potential for Cu-Au mineralisation in this area down to at least 250m below surface.

King Solomon 2

CPM conducted drilling at the northern end of King Solomon 2 to test two target areas, with 22MERC060A a redrill of 22MERC060 testing a deeper target to the east.

Significant shallow mineralisation was interested in both holes including:

• 16m @ 0.8% Cu and 0.03 g/t Au from 12m, incl: 5m @ 2.0% Cu and 0.05 g/t Au (22MERC060)
• 16m @ 0.5% Cu and 0.02 g/t Au from 16m, incl: 3m @ 1.2% Cu and 0.05 g/t Au (22MERC060A)

With the closest drill hole found around 110m to the southeast of 22MERC060A confirms continuation of the mineralised horizon with a broad zone of low-grade copper mineralisation intersected in 22MERC024.

Data source: Company update; Image source: © 2023 Krish Capital Pty. Ltd.