Cooper Metals (ASX:CPM) secures large tenement at Mt Isa East Cu-Au Project

Highlights

• Cooper Metals has been granted tenement EPM28087 (Barbara East) totalling around 192 square kilometres.
• Cooper has already acquired 85% ownership of the tenement from Revolution Mining Pty Ltd.
• The tenement is situated within the Mary Kathleen Domain, highly prospective for copper-gold mineralisation like the Barbara Deposit.
• CPM’s granted tenure has been expanded to more than 1,600km² at the Mt Isa East Copper Gold Project, after the grant of the tenement EPM28087 (Barbara East).

In the latest announcement, Australia-based mineral exploration company Cooper Metals (ASX:CPM) revealed that it has been granted the tenement EPM28087 (Barbara East) of about 192km² in area. The company has acquired 85% ownership of the tenement from Revolution Mining Pty Ltd.

With the grant of exploration tenement EPM28087 (Barbara East), Cooper Metals’ total granted tenure expands to approximately 1,600 square kilometres at the Mt Isa East Copper Gold Project.

Mt Isa East Project Location, including new acquisition tenement over regional geology and main prospects 

Cooper will undertake fieldwork to follow up priority areas on the new tenement later in the ongoing year 2023. Presently, the ASX-listed firm is conducting geochemical sampling in the field on Ardmore tenement EPM191253. 

An overview of EPM28087

Situated 2km to the northeast of Cooper’s current tenure, EPM28087 includes a part of the Mary Kathleen Domain (MKD), which is considered to be a highly prospective structural Domain for copper-gold deposits.

CPM’s existing tenure is dominated by rocks of the Corella and Argylla formations, which elsewhere in the Mary Kathleen Domain have multiple Cu-Au deposits and occurrences, which are usually formed in faults near the contact with the Ballara Quartzite and in other key fault structures.

Exploration done before was restricted to regional geophysics and surface geochemical sampling, covering stream sediment sampling and minor rock chip sampling done as per the government database (GeoResGlobe).

As per the external review of the previous exploration and the geology in the area, there are three priority target areas for copper-gold exploration - Area A, Area B, and Area C.

Area A: A structural target with a coincident magnetic and gravity anomaly near Ballara Quartzite and Corella Formation contact. There have been historic copper anomalism in stream sediment samples outside EPM28087.

Area B: This includes two airborne Versatile Time-Domain Electromagnetic anomalies (VTEM) in the Corella Formation. It is possible that these anomalies are a result of bedrock conductors prospective for copper-sulphide mineralisation. Area B also includes the Rocky Rule historical copper-gold workings described in GeoResGlobe as 30m long, by 4m wide and 3m deep. Notably, there exist numerous pronounced NW trending structures in area B within favourable lithologies of the Argylla and Corella Formations that warrant follow-up.

Area C: This area has NNW trending structures along rock formation contacts splaying off the regionally important NE trending Wonga Fault. The historical Dugald River Tributaries gold prospect along with a nearby anomalous copper trend defined in historic rock chips is consistent with a NNW trending structure which can be analysed further.

Management Commentary

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