High-priority VTEM conductors indicate potential for ISCG mineralisation at Mt Isa East Cu-Au Project - Kalkine Media

Highlights

• In June, the company delineated several high-priority versatile time-domain electromagnetic (VTEM) conductors with favorable structures and lithologies for hosting iron-sulfide copper gold (ISCG) mineralisation.
• The company is very excited about the response received at the Python conductor, which has doubled the length of the initial fixed-loop electromagnetic (FLEM) anomaly. The company has identified a new sub-parallel conductor with over 500m in length to the northeast.
• shares of Cooper Metals are 120% above the IPO price of AU$0.20 to AU$0.44 a share as on 13 July 2022.

With gold once again proving to be a savior of the global economy during the pandemic, institutional and retail investors are more inclined towards the yellow metal. With the energy transition speeding up, demand for copper is anticipated to multiply from the energy transmission and electrification. As per the World Bank report titled “Minerals for Climate Action”, demand for copper is anticipated to grow to around 30 million tonnes by 2050 under a two-degree Celsius temperature rise scenario. In fact, the report states demand from solar and wind energy could contribute to as much as 74.2% of the total copper demand of the metal.

Now that demand for the two metals is gaining momentum, it needs to be complemented by new mineral discoveries and the development of mining operations across the globe. Future copper supply faces some critical challenges, including declining head grades and rampant supply disruptions.

Cooper Metals Limited (ASX:CPM), an Australian mineral exploration company focusing on discovering copper and gold, owns and advances on three highly prospective projects in Western Australia and Queensland.

The flagship Mt Isa East copper gold project in northwestern Queensland stretches with multiple historical copper gold mine workings. The project stretches across a 1575 sq km tenure, just 30 km southeast of Mt Isa.

Mt Isa East Cu-Au Project Source: Cooper Metals Presentation May 2022

VTEM survey suggests ISCG mineralisation potential at Mt Isa East

In June, the company delineated several high-priority versatile time-domain electromagnetic (VTEM) conductors with favorable structures and lithologies for hosting iron-sulfide copper gold (ISCG) mineralisation.

In fact, the VTEM Max survey has delineated numerous anomalies that Cooper believes warrant a follow-up. The company is very excited about the response received at the Python conductor, which has doubled the length of the initial fixed-loop electromagnetic (FLEM) anomaly. The company has identified a new subparallel conductor with over 500m in length to the northeast.

Discovery of Conductors suggesting ISCG Mineralisation in the first aerial survey at Mt Isa East

The VTEM survey was the first airborne electromagnetic (EM) survey at the project area and has bolstered confidence to build an array of copper-gold targets at the Mt Isa East Project. The discovery of the conductors holding potential for ISCG mineralisation at Mt Isa East within the first aerial survey has fueled Cooper to take exploration further.

Moving proactively, Cooper has already begun the ground truthing of the conductors and will share updates as soon as the results are available. Cooper targets iron oxide copper gold (IOCG), iron sulphide copper gold (ISCG) and shear hosted copper-gold mineralisation at the project.

The copper-gold project holds numerous Cu-Au occurrences and historical mine workings. The project area includes numerous substantial copper occurrences that are yet to be followed up by drilling since the mid-1990s. At Mt Isa East, Cooper may even accelerate the development of mining operations using any of the multiple existing third-party processing options in the established mining region.

Share performance

Price chart for Cooper Metals and S&P/ASX 200 Index Source: Refinitiv Eikon

Cooper is a new entrant to the ASX trading list and was successfully listed on 19 November 2021. CPM aims to create wealth for its shareholders through the discovery of significant mineral deposits.

Buoyed by the achievement of significant milestones, shares of Cooper Metals are 120% above the IPO price of AU$0.20 to AU$0.44 a share as on 13 July 2022.