Cooper Metals (ASX:CPM) has reported ‘significant’ assays from the first holes drilled at its Mafic Sweats South and Raven Copper-Gold (Cu-Au) prospects in Queensland.
Assays have been returned from the first 5 reverse circulation (RC) drillholes of the 14 drilled within the Mt Isa East Cu-Au Project in October. The pending assays are from holes drilled in several other prospects within the project area.
The copper and gold explorer reports the first drillhole at Raven, 23MERC018, intersected 10m @ 1.27% Cu and 0.17 grams per tonne (g/t) Au from 77m and 3m @ 1.46% Cu and 0.15g/t Au from 100m, both within a wider intercept of 44m @ 0.48% Cu and 0.055g/t Au from 59m.
At the Mafic Sweats South prospect, Cooper intersected ‘large, low-grade’ mineralisation including 65m @ 0.34% Cu from surface and 66m @ 0.25% Cu from 6m. The company says mineralisation in this area remains open in all directions.
Cooper Metals Managing Director Ian Warland says delivering ‘significant’ mineralisation at the Raven prospect proves that the company’s new targets are spawning new discoveries.
“It’s early days for Raven and Mafic Sweats South. However, drill planning is already underway to complete follow-up drilling at Raven later this month before the end of the field season.
We believe a combination of coincident VTEM, the significant copper geochemical footprint, and the recent drill results at Raven, make this a compelling target, which warrants fast-tracked exploration.
Mafic Sweats South drilling returned a large copper oxide intersection open in all directions and has untested sulphide potential at depth.”
“We believe a combination of coincident VTEM, the significant copper geochemical footprint, and the recent drill results at Raven, make this a compelling target, which warrants fast-tracked exploration”
The company notes RC drilling is anticipated to be fast-tracked at Raven this month to follow up on the results along-strike and down-dip.
Both prospects lie within the Mt Isa project, which covers 1,600km-square of tenure with numerous historical copper-gold workings.
Cooper Metals is an Australia-based mineral explorer focused on the discovery of copper and gold. The company has 3 ‘highly prospective’ projects in Queensland and Western Australia.
As of 30 September 2023, the company had $2.4 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Cooper Metals
