Cooper Metals (ASX:CPM) is laying the foundations for aircore drilling at its Gooroo Project in Western Australia.
The $20.59 million market capitalisation company says drilling is being planned to expand geochemical sampling to areas under cover once all regulatory approvals have been received.
Drilling is being planned after the company posted on 14 February 2024 assay results from its recent soil and rock chip sampling program at Gooroo.
Copper notes assays enhance the gold anomalies at the project, demonstrating gold grades up to 2.56 grams per tonne from a sample of silicified basalt float from gold anomaly 1.
Five broad gold anomalies occur in potentially favourable structural trap sites such as the nose of the Gullewa syncline and ‘significant’ regional faults traversing the greenstone belt, known to be important for the formation of gold deposits elsewhere in the belt.
Results from the recent sampling program have also returned higher values when compared to previous soil sampling programs completed in 2021 to 2022, with a maximum of 33.2 parts per billion gold returned in anomaly 1.
According to Cooper, detailed new aeromagnetic data and new mapping and geochemical sampling has also helped define new gold targets for upcoming aircore drilling.
Managing Director Ian Warland says: “Anomaly 1 has a peak gold value of 33.2ppb coincident with a sample of silicified basalt float which reported 2.56g/t Au near mafic and felsic contacts with andesitic porphyry. This area is proximal to interpreted faults that may have been important plumbing mechanisms in the region for gold mineralisation.
After focussing on acquiring key geochemical, geophysical and geological datasets Cooper is now well placed to conduct maiden drilling program at Gooroo in 2024 and is working hard to obtain the necessary regulatory approvals. We look forward to updating the market with our progress in the near future.”
The Gooroo Project sits about 413km north of Perth in proximity to Silver Lake Resources (ASX:SLR) Deflector Mine, which has a 1.27 million ounce gold resource at 13.5g/t gold.
Cooper Metals is an explorer with a focus on copper and gold exploration.
