Cooper Metals (ASX:CPM) reports it has been awarded $137,500 as part of the Queensland Government’s Collaborative Exploration Initiative (CEI) grants program.
The company reports that the grant will fund a detailed Versatile Time-Domain Electromagnetic (VTEM) survey on the Barbara East (EPM28087) tenement.
The VTEM survey will commence in early May this year following the signing of a contract with UTS Geophysics. The survey covers an area of 200km-square and 725 line-kms at tenement EPM28087, which is part of Cooper’s Mt Isa East Copper-Gold Project. The survey is designed to identify any bedrock conductors that may represent copper sulphide mineralisation.
Commenting on the awarded grant Cooper Metals Managing Director Ian Warland, says: “Cooper is very pleased to receive the CEI grant for the VTEM survey, which will rapidly accelerate exploration over EPM28087.
A review of the Queensland government’s 2016, 2km spaced regional VTEM data identified 2 VTEM anomalies in prospective Corella Formation rocks, which is one of the compelling reasons to fly a detailed survey of the area.
“Another compelling reason is the nearby Barbara deposit is thought to have a VTEM signature, demonstrating the usefulness of this method in identifying sulphide-rich copper mineralisation”
Another compelling reason is the nearby Barbara deposit is thought to have a VTEM signature, demonstrating the usefulness of this method in identifying sulphide-rich copper mineralisation.”
The company reports EPM28087 covers part of the Mary Kathleen Domain, which is a ‘highly’ prospective structural Domain for copper-gold deposits, such as Aeris Resources’ (ASX:AIS) Barbara deposit, located 1.8km to the west of Cooper’s tenure.
Once the survey is completed, any conductors will be ground-checked and ranked for further exploration work, including ground-based geophysics, geochemistry, and drill testing.
Additionally, the company has a team currently in the field conducting geochemical sampling on Ardmore tenement EPM19125, as well as an Induced Polarisation survey currently in progress at Ardmore.
Cooper Metals is an ASX-listed explorer with a focus on copper and gold exploration. The company has 3 projects all in proven mineralised terrains with access to infrastructure, including the Mt Isa East Project in Queensland and the Yamarna Gold and Gooroo Gold projects in Western Australia.
Images: Cooper Metals Ltd
