Latest work improves Cu-Au potential at Cooper Metals (ASX: CPM) Mt Isa East's Raven prospect - Kalkine Media

Highlights

• DHEM survey at the Raven prospect indicated a modelled conductor which extends for minimum 100m along strike from the closest drill hole.
• New rock chip sampling at the prospect has identified mineralised copper gossan at surface.
• Cooper plans to conduct follow up drilling of four holes at Raven after Brumby Ridge drilling.

Cooper Metals Limited (ASX: CPM) has received geochemistry and geophysics survey results for the Raven Cu-Au prospect within the Mt Isa East project. The results highlighted the enhanced potential of the prospect.

Data source: company update

DHEM results are significant because Raven Cu-Au mineralisation contains pyrrhotite that responds and is conductive to electromagnetic surveys.

Moreover, the drill hole 23MERC033 has two zones of mineralisation -

• 8m @ 1.0% Cu & 0.08g/t Au from 85m including 1m @ 1.79% & 0.25g/t Au from 85m and 2m @ 2.96% & 0.16g/t Au from 91m (23MER033)
• 12m @ 0.81% Cu & 0.09g/t Au from 113m, including 8m @ 1.0% Cu & 0.11g/t Au from 113m, and 3m @ 1.68% & 0.21g/t Au (23MERC033)

At the Raven prospect, the company plans to undertake RC drilling on up to four holes for around 600m. The target would be the extensions to the known mineralisation as indicated by the recent geochemical and geophysical surveys.

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The Raven Cu-Au Prospect is only 3km away from the Brumby Ridge Cu-Au Prospect. Recent drilling at Brumby Ridge delivered 71m at 2.8% copper and 0.05g/t gold.

In October and November 2023 drilling at Raven, the company had completed seven RC holes for 942 metres, averaging approximately 135 metres in depth. The mineralisation extends at least 100m in the NNW direction, next to a fault structure hosted within the Leichardt Volcanics. The analysis of drilling suggested a moderately SSE plunging shoot from surface, dipping steeply towards the west.

In December 2023, the company concluded a DHEM survey in four of the RC drill holes with the aim to determine the potential for extensions to the mineralisation located in RC drilling.

After processing of the DHEM survey by a consultant geophysicist, it has been ascertained that a significant correlation exists between DHEM conductive responses and the position of the logged pyrrhotite. In drillhole 23MERC033, strongest conductive response was reported. Multiple EM conductive plates were modelled by the consultant and plate C indicated a conductor continuing as a plunging shoot for nearly 100m along strike.

New rock chip sampling at Raven

At Raven, mineralised copper gossan has been identified at surface through new rock chip sampling.

Follow up drilling at Raven is planned after Brumby Ridge drilling.

CPM shares jumped 1.85% during the early trading hours on 23 January 2024 to trade at AU$0.275 apiece.