Highlights
- Cooper Metals has received results of the induced polarization survey and new geochemical sampling on the Ardmore tenement (EPM19125) at Mt Isa.
- The survey has detected significant chargeability zone broadly coincident with Cu-Au mineralised shear zones at Ardmore
- Gold assays up to a stunning 14.9g/t Au in new assay results received from 22 rock chip samples at Ardmore, says the company.
- Also, there are significant copper results up to 23.1% Cu (and 2.2g/t Au) in sample MER151.
Shares of Cooper Metals (ASX:CPM) jumped by over 10% today on the Australian Securities Exchange (ASX) and traded at AU$0.10, following the company’s latest announcement.
The firm today revealed the results of the induced polarization (IP) survey and new geochemical sampling on the Ardmore tenement (EPM19125) within the Mt Isa East Copper Gold Project in northwestern Queensland.
Results for the southern grid have been processed and show a significant chargeability feature on the eastern side of the grid, broadly coincident with the copper-gold mineralisation identified by recent mapping by Cooper geologists.
The strongest part of the IP anomaly is in the north-eastern portion of the southern grid and is around 500m long with a peak chargeability of 22 mV/V, or around 5 times background. It is important to note that samples MER115 and MER116 collected from copper veining, located at the southern end of this high chargeability zone have significant copper and gold including, 21.9% Cu & 1.1g/t Au (MER116) and 21.3% Cu & 0.5g/t Au (MER115). The centre of the chargeability anomaly is yet to be mapped.
Data source: CPM update
More to come…