Cooper (ASX:CPM) caps off Queensland copper drilling amid $50m Mt Isa outlook

Cooper Metals has wrapped up drilling at Mt Isa East and will soon have assays on the way from four regional copper-gold prospects in northwest Queensland.

The reverse cycle round tapped the Raven, Mafic Sweats North, Mafic Sweats South and Yarraman prospects, a tightly clustered bunch among a large number of targets accumulated through the Cooper tenements.

Cooper’s 12-hole 1800-metre reverse cycle campaign at Mt Isa East followed significantly thick copper oxide strikes of up to 65 metres at 0.34 per cent copper from surface recorded while it investigated extensions and anomalies uncovered last year.

“Over 500 one-metre samples have been selected for laboratory assay based on the presence of anomalous copper in pXRF and visual logging by a company geologist,” Cooper Managing Director Ian Warland said.

“I’m pleased with the progress of the drilling and look forward to updating the market with the assay results once the data has been received and analysed.”

Cooper Metals is now planning to interpret assays and plot its next follow up at Mt Isa East while further investigating the prospectivity of its Brumby Ridge prospect.

While diamond drilling has yet to strike the broad copper zones expected after bonanza grade hits with the RC bit at Brumby Ridge, more assays are due soon and Cooper believes the potential for a cross-cutting zone to hold economic mineralisation begs further investigation.

Glencore’s Mt Isa closure was no death knell for copper mining in the region, and there remains processing options on-hand in the rich Northwest Minerals Province.

The Mt Isa Inlier holds over 1000 copper occurrences, and the Queensland Government has put $20 million towards shovel-ready assets and another $30 million toward accelerating resource projects in the region and continuing a very productive legacy.

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