Dec 2023 Quarter: Cooper Metals (ASX: CPM) validates prospectivity of Mt Isa East Project - Kalkine Media

Highlights

• Two campaigns of RC drilling were conducted on five prospects in December 2023 quarter.
• At Brumby Ridge, bonanza copper grades were intersected, and mineralisation is open in all directions.
• Significant Cu-Au mineralisation was intersected at the Raven prospect.

Cooper Metals Limited (ASX: CPM) is an ASX-listed copper and gold exploration company, which was focused on conducting ground activities on its Mt Isa East project, Queensland during the three months ended 31 December 2023.

In the latest quarter, the company conducted two reverse circulation drill campaign on five prospects of Mt Isa East and reported positive results from three prospects.

Details of RC drilling at Mt Isa East

Mt Isa East is the flagship project of CPM and multiple prospects have already been discovered for immediate follow up exploration. During the quarter, the company undertook RC drilling on five prospects, and geochemical and geophysical campaign throughout the project area.

In October and November 2023, total 21 drillholes were completed under two RC drill programs. At Brumby Ridge, Raven, and Mafic Sweats South, significant copper was intersected.

Brumby Ridge Prospect

During the latest quarter, five RC holes were drilled into Brumby Ridge. The significant results include-

More significant results include-

During the period, downhole electromagnetic survey and detailed drone aeromagnetic survey started at Brumby Ridge propsect. The results are expected in March 2024 quarter.

Raven Prospect

As part of the RC drilling cmapign, seven holes were drilled at Raven prospect covering nearly 942m. Following are the significant driling results –

Initial analysis of the drilling results indicates a moderately SSE plunging shoot from surface dipping towards the west.

Over some of the Raven’s drillhole, a downhole electromagnetic (DHEM) survey was finalised, and interpretation and modelling are in process by consultant geophysicist. More.

Mafic Sweats South Prospect

At Mafic Sweats South, four RC holes were drilled for 431m. The significant results include-

• 23MERC014 – 65m at 0.34% Cu from surface
• 23MERC015 – 66m at 0.25% Cu from 6m
• 23MERC016 – 60m at 0.11% Cu from surface

The company informed that mineralisation is hosted in Magna Lyn Metabasalt’s weathered rocks and is open in all directions and strong copper in soil anomaly continuing north of the drilling for around 280m. The results are interpreted as “highly encouraging”. 

CPM shares traded at AU$0.315 at the time of writing on 15 February 2024.