Latest drilling extends Cu-Au mineralisation at Cooper Metals (ASX: CPM) Raven prospect - Kalkine Media

Highlights

• Remaining drill assays from the Raven Cu-Au prospect has been received.
• Mineralisation at the prospect continues to grow to the southeast, now for at least 100m of strike.
• In the March quarter 2024, follow up drilling at Brumby Ridge is planned.

Cooper Metals Limited (ASX: CPM) has shared the pending assay results from recent drilling at the Raven Cu-Au prospect within the Mt Isa East Project. The results highlight that the Cu-Au mineralisation at Raven has extended to the southeast with the recent reverse circulation (RC) drilling.

The mineralisation strikes for minimum 100m in the NNW direction along a fault structure hosted within the Leichardt Volcanics.

The new results comprise-

Data source: Company update

The company has also provided an update about Brumby Ridge. CPM intends to conduct follow up drilling at the prospect in 1Q24. Results from geophysical surveys including aeromagnetic survey, downhole electromagnetic survey and induced polarisation are expected to be finalised in the intervening period.

About Raven prospect

The Raven prospect is located in close proximity of Brumby Ridge, where recent drilling delivered 71m at 2.8% Cu and 0.05g/t Au. Seven RC holes for 942m were completed at the prospect in the October and November 2023 drill campaigns. Three were concluded in October, while four were finalised in November.

The drill results reported in November comprised:

• 15m @ 1.0% Cu & 0.10 g/t Au from 35m, including 3m @ 2.7%Cu & 0.29g/t Au from 35m and 3m @ 2.1% Cu & 0.18g/t Au from 47m all within a wider intercept of 28m @ 0.63% Cu & 0.06 g/t Au from 34m (23MERC019).
• 10m @ 1.27% Cu and 0.17 g/t Au from 77m and 3m @ 1.46% Cu and 0.15g/t Au from 100m both within a wider intercept of 44m @ 0.48% Cu and 0.06 g/t Au from 59m (23MERC018).

The mineralisation is near surface in fresh rock with significant actinolite alteration. The company highlights that there is a solid soil geochemical anomaly south of the current drilling that is yet to be tested.

Update on Brumby Ridge exploration

At the Brumby Ridge prospect, interpretation of a downhole electromagnetic survey (DHEM) and a detailed aeromagnetic survey is ongoing.

Data from the recently concluded drone based aeromagnetic survey will assist in the interpretation of the geological structures and lithologies to give directions for the next phase of exploration drilling.

In February 2024, the company plans to undertake induced polarisation over the prospect to test a chargeability response linked with the Cu-Au mineralisation.  Induced polarisation can be useful in projecting the strike extent and depth of the sulphides.

The planned next phase drilling at the prospect will include nearly 1,000m of diamond drilling and up to 2,000m of RC drilling. The next phase would focus on defining the extent of the Cu-Au occurrence at Brumby Ridge.

Plans ahead!

The company is focused on finalising processing and interpretation of DHEM survey at Raven and Brumby Ridge prospects, as well as aeromagnetic data at Bumby Ridge.

Moreover, the company plans to undertake IP survey at Mafic Sweats and Brumby Ridge.

CPM shares traded at AU$0.285 apiece on 12 December 2023.