Cooper (ASX:CPM) confirms depth potential ahead of Queensland copper drills

Cooper (ASX:CPM) confirms depth potential ahead of Queensland copper drills

February 21, 2024 Off By Jack Baker

Cooper Metals‘ first line of an induced polarisation survey has confirmed the strong depth potential of the Brumby Ridge anomaly, a headline prospect standing ready for drilling at its Mt Isa East tenements in northern Queensland.

An initial high-grade intercept at Brumby Ridge was quickly surpassed by a bonanza-grade strike of 71 metres at 2.8 per cent copper, with Cooper ready to take a deeper look at its size and grade potential with a combined 3 kilometres of fully funded reverse cycle and diamond drilling.

The chargeability anomaly response notably begins about 50m below the surface, continues at depth, and matches up well with the geology.

Cooper Managing Director Ian Warland said the company was ready to begin drilling at the prospect and was further motivated by its positive early result.

“It’s highly encouraging to see the strong chargeability response from the first line of IP indicating the mineralisation is wide, steeply dipping – and extends at depth,” Mr Warland said.

“This corroborates what we have learnt from our earlier drilling and surface results.

“Recent heavy rains have temporarily paused the geophysics, but the IP survey will restart soon once access is available and diamond drilling will commence shortly thereafter.”

An IP survey designed to optimise targeting over the Brumby Ridge, Mafic Sweats South, and Yarraman prospects is expected to take about two weeks to complete ahead of the drill campaign.

And while the Mt Isa township was rightfully despondent on the notice of Glencore’s upcoming copper closure, the Queensland Government has proven its commitment to the region’s future by putting $20 million towards shovel-ready projects.

Queensland Resources and Critical Minerals Minister Scott Stewart said the state government would back the people of Mt Isa, and was doing just that.

“The government will continue to engage and work directly with the community as they deal with this challenge,” Mr Stewart said.

“There is huge potential in the Northwest Minerals Province for new projects and more jobs, and we are backing this through our $5 billion CopperString 2032 project.”

The state-owned CopperString transmission line project in North Queensland will connect the Northwest province with the rest of the country to supply the critical minerals boom.

The project is led by Powerlink and is expected to be Australia’s largest grid expansion.

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