Drilling progress at Brumby Ridge: Cooper Metals (ASX: CPM) eyes late April results

April 07, 2024 06:04 PM PDT | By Sonal Goyal

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Drilling progress at Brumby Ridge: Cooper Metals (ASX: CPM) eyes late April results — Image source: Company update

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Highlights

At Brumby Ridge, four diamond holes and five RC holes were concluded in March, with results anticipated in late April.

24MERC003, a new drill hole intersected a substantial length of visual sulphides.

An external geological consultant has been engaged to review the Brumby Ridge data.

Cooper Metals Limited (ASX: CPM) has released an exciting update on its Mt Isa East Project. March 2024 witnessed intensive exploration efforts at Brumby Ridge, as the company drilled four diamond holes, spanning an impressive 1,054m, alongside five RC holes, covering 1,044m. Around 500 drill samples have been dispatched to the laboratory in Mt Isa, with results anticipated in late April 2024.

The company has shared visual sulphide results of its five new RC holes. The significant results include intersection of more than 60m of visual disseminated sulphides at new drill hole 24MERC003. 24MERC003 is amongst the three scissor holes drilled on the identical section as RC drill hole 23MERC028, which yielded 71m at 2.8% Cu.

Visual sulphides intersected at Brumby Ridge

RC drill hole 24MERC003, one of the three scissor holes drilled on section 1, encountered a substantial length of visual sulphides. At a depth of 89m, this hole intersected 5m of quartz-carbonate vein containing laminated sulphides, ranging from 5% to 10% sulphides. Subsequently, it encountered 67m of disseminated sulphides, with sulphide content ranging from 1% to 2%.

The hole is interpreted to have drilled down a narrow-mineralised fault breccia zone (MFBZ), assumed to be the identical mineralised fault structure encountered by 23MERC028 during drilling in November 2023.

The other scissor holes, 24MERC004 and 005 intersected visual sulphides. 24MERC004 hole encountered 7m of 5-10% laminated sulphide in the main quartz-carbonate vein, while 24MERC005 intersected 2m of 1-2% sulphides from 160m.

Geological interpretation at Brumby Ridge is in initial stages. The preliminary observations suggest north-northwest (NNW) trending sulphide mineralised quartz-carbonate vein (MQCV) with a width ranging from 1 to 3.5m, and it is inclined steeply towards east-northeast (ENE).

The company has discovered some samples of the mineralised fault breccia zone (MFBZ) on surface; however, its correlation with the MBFZ encountered during drilling remains unclear. The company is undertaking additional assessment as part of the detailed assessment of the copper grade and size potential at the Brumby Ridge prospect.

Two new scissor RC drill holes, 24MERC001 and 24MERC002 were completed to investigate an induced polarisation chargeability response detected in pole-dipole line (PDP) L10200N2. These holes encountered visible sulphide mineralisation, with the most promising result coming from 24MERC001 as it intersected approximately 3m of vein sulphides (1-2% sulphide) starting at 90m depth.

Exploration plans at Brumby Ridge

Further investigation is needed to determine the potential of the cross-cutting MFBZs and mineralised quartz-carbonate vein to contain economic concentrations of copper-gold mineralisation.

Interpretation of the data is in process, with focus on additional petrology, assay analysis, and geological assessment, to understand the mineralisation potential and scope of the follow-up program. As part of this process, an external geological consultant with extensive experience in the Mt Isa Inlier has been engaged to review the data.

CPM shares traded at AU$0.115 apiece at the time of writing on 8 April 2024.

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