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- Cooper updated bourses regarding the commencement of reverse circulation (RC) drilling at the King Solomon prospect.
- Drilling activity would continue for over two to three weeks with assay results planned to be reported as and when available.
- CPM’s share shot 8.8% to AU$0.47 on 1 August 2022.
Shares of Cooper Metals Limited (ASX:CPM) shot 8.8% on 1 August 2022 after the company announced the commencement of reverse circulation (RC) drilling at the King Solomon prospect of the Mt Isa East Cu-Au Project.
The drilling program will include 20 holes with a total advance of 2,000m targeting newly induced polarisation (IP) targets delineated at the King Solomon prospect. Drilling activity would continue for over two to three weeks with assay results planned to be reported as and when available.
Drilling would test the King Solomon prospect along its strike and extension of mineralisation, intersected during the initial drilling program in June. The initial drill program included downhole intersections such as –
Drilling will target newly induced polarisation (IP) anomalies that were delineated during the July IP surveys. These anomalies have added further Au-Cu targets adjacent to and along the strike of the previously known Cu-Au mineralisation at King Solomon 1, 2 and 3, highlighting the potential of a much larger mineralisation system than previously suggested.
Must Read: Cooper Metals (ASX:CPM) continues exploration efforts at Mt Isa East
Once the drilling activity is concluded, Cooper intends to fast-track the assaying of drill samples for interpretation.
CPM traded at AU$0.455 a share on 5 August 2022 with a market capitalisation of AU$18.20 million.