Cooper Metals (ASX:CPM) continues exploration efforts at Mt Isa East

• Recently, Cooper announced that its continued exploration efforts yielded a shallow copper discovery at the King Solomon copper-gold prospect near the Mount Isa Project.
• The company has intersected substantial copper and gold mineralisation in eight holes along a strike of 380m and up to a depth of ~100m.
• The VTEM survey has doubled the length of the Python conductor to over 700m and identified another subparallel conductor 250m to the northeast.

Copper and gold-focused Australian minerals exploration company Cooper Metals Limited (ASX:CPM) continues to advance on its premium mineral projects across Queensland and Western Australia.

Listed on 19 November 2021 on the ASX, the company has succeeded in creating wealth for its shareholders. Over 40 million shares were listed on the issue. Cooper aims to create values for its shareholders by discovering substantial mineral deposits. Currently, CPM’s shares trade at AU$0.48 a unit with an undiluted market capitalisation of AU$19.2 million. Currently, the company maintains a cash position of ~AU$4 million.

Share performance Source: CPM Investor Presentation

The Board at Cooper has a skin in the game, holding over 12% of the equity ownership of the company.

Cooper’s Au-Cu mineral projects Source: Cooper Metals Limited Exploration Update July 2022

Currently, Cooper Metals focuses on advancing on copper and gold discoveries at its three premium projects in Queensland and Western Australia –

• Mt Isa East Cu-Au Project in Queensland – The flagship project stretches over 1,300km², and hosts multiple historical Cu-Au mine workings and known exploration prospects. Cooper considers Mt Isa Inlier as highly prospective for iron oxide copper gold (IOCG) and shear hosted Cu +/- Au deposits.
• Yamarna Gold Project in Western Australia – The gold project is located along the strike from the 6.16Moz Gruyere Gold Deposit.
• Gooroo Cu-Au Project in Western Australia – The project expands over a newly discovered greenstone belt, which is yet to undergo exploration. The project is 20km from Silver Lakes’ Deflector mine.

Mt Isa East Cu-Au Project – Cooper’s Crown Jewel

The copper-gold project shares its boundary with the Western Fold Belt, the Kalkadoon-Leichhardt Belt and Eastern Fold Belts and hosts multiple small to medium, high-grade Cu +/- Au deposits, including Duchess, Tick Hill, Leichardt & Barbara (4.7mt @ 1.6% Cu & 0.15 g/t Au).

Mt Isa East Copper Gold Project Source: Cooper Metals Limited Exploration Update July 2022

The recent success of Carnaby Resources (ASX:CNB) in the project region at Nil Desperandum and Lady Fanny has enhanced the prospectivity of the entire area, specially the Mary Kathleen Domain.

The project area includes substantial copper occurrences that are yet to be tested by follow-up drilling since the 1990s. Cooper’s recent drilling at King Solomon has intersected significant shallow copper and gold mineralisation, open in all directions. Recently, the company announced that its continued exploration efforts yielded a shallow copper discovery at the King Solomon copper-gold prospect near the Mount Isa Project. The initial RC drilling program has exceeded Cooper’s expectations and has delivered excellent copper assay results at King Solomon 1 prospect. One of the holes, 22MERC016, recorded an intercept of 17m with 2.2% copper from 84m downhole with gold assay pending.

King Solomon long section Source: Cooper Metals ASX Announcement

The company has intersected substantial copper and gold mineralisation in eight holes along a strike of 380m and up to a depth of ~100m. The mineralisation remains open at depth and to the south-southeast. The company expects to soon receive assay results for King Solomon 2 and 3.

RC drilling assay results have suggested the potential of new IP chargeability anomalies at King Solomon 2 and 3. A combined strike length of over 500m of IP chargeability anomalies has been delineated at King Solomon 2 and 3. A 250m NNW trending chargeability anomaly along the strike has been delineated and remains untested by the current drilling campaign. Cooper plans to commence drilling at King Solomon in late July to test new targets, along strike and downdip of known mineralisation. These IP chargeability anomalies along the strike from the known copper-gold mineralisation at King Solomon 1, 2 and 3 outline potential for an even larger mineralised system than previous indications.

The latest VTEM survey has delineated numerous high-priority conductors with favourable lithologies for hosting iron-sulphide copper-gold (ISCG) mineralisation. The survey has doubled the length of the Python conductor to over 700m and identified another subparallel conductor 250m to the northeast.

The VTEM survey is the first-ever extensive airborne electromagnetic at the project area in the prospective Mary Kathleen Domain. Currently, Cooper is ground testing VTEM conductors to identify the potential source of the anomaly and prioritise follow-up ground geophysics prior to potential drill testing.

Other Aces in the making

Along with the Mt Isa East, Cooper continues to progress on both the Gooroo and Yamarna projects.

Gooroo Cu-Au Project

Cooper targets the Orogenic gold and copper-gold mineralisation at the copper-gold project in the Gullewa Greenstone Belt, an extensively unexplored one. The gold-copper project is located 20km south of the 1.2Moz gold Silver Lakes Deflector mine and in close proximity to Recharge Metals Ltd’s (ASX:REC) Brandy Hill South prospect.

Gooroo Project Source: Cooper Metals ASX Announcement

Recently, regional soil geochemistry by Cooper delineated gold anomalism associated with favourable structural trap sites interpreted from aeromagnetic data. Assay results from the Infill soil geochemical program are pending, and the potential drilling would identify the source of gold anomalies in 2022.

Yamarna Gold Project

The Yamarna gold project is located along strike from Gold Road Resources’ (ASX:GOR) 6.16 Moz Gruyere gold deposit and over 140 km north-east of Laverton in Yamarna Terrane of Western Australia. Yamarna Terrane is a newly discovered gold region and remains underexplored.