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Highlights
- Cooper Metals is riding high on the latest exploration update for its 100%-owned Ardmore tenement.
- The company has kicked off reconnaissance geochemical sampling at the tenement.
- The program is aimed at better defining the copper mineralisation strength and extent ahead of geophysical surveys and any drill testing during the year.
Cooper Metals (ASX:CPM) has kicked off reconnaissance geochemical sampling on its new wholly owned tenement, namely Ardmore.
The new tenement is located within the company’s northwestern Queensland-based copper-gold asset, Mt Isa East.
The tenement is at the northern end of the same interpreted iron oxide copper gold (IOCG) corridor, which is host to Carnaby’s prospects, namely, Mt Hope, Lady Fanny and Nil Desperandum.
Reconnaissance Sampling Restarts at Ardmore
The Ardmore tenement (EPM19125) is a highly prospective structural domain for copper-gold deposits. Notably, Carnaby’s interpreted IOCG corridor marked by the position of Lady Fanny, Nil Desperandum, and Mt Hope seems to extend towards the southern end of the tenement.
In November last year, CPM shared highly encouraging assays from rock chips taken at the time of the initial field reconnaissance at Ardmore, including historical workings in the northern part of the tenure and sheared lithological contacts between the prospective Corella Formation and mafic rocks in the southern part of the tenure.
Data source: company update
A snapshot of the current sampling program
A detailed grid sampling of soil is being conducted using a portable XRF to confirm the size and grade of copper anomalism across areas detected in the initial reconnaissance survey. As part of the systematic exploration of the Mt Isa East Project, geologists will also pay a visit to other prospects in near time.
CPM shares were trading at AU$ 0.300 midday on 15 February 2023, up over 3.4% from the last close.