Cooper (ASX:CPM) expands Mt Isa potential
October 18, 2022Cooper Metals Limited has taken full ownership of the ground, demonstrating large volumes of hydrothermal fluid flow and mineralisation, which is the focus of extensive exploration at the Mt Isa Copper-Gold Project in northwest Queensland.
The acquisition of Ardmore Resources expands the Mt Isa East Copper-Gold Project within the highly prospective Mt Isa Inlier to the northeast of the large-tonnage copper deposit.
It includes two known historical copper mines and historical rock chip samples up to 5% Cu and 5g/t Au.
Cooper continues to build a significant land position in the Mt Isa Inlier and, after this acquisition, will hold over 1,600km2 of tenure.
The tenement also appears to be along strike to the north from Carnaby’s interpreted IOCG corridor and recent drilling at Mount Hope of 60m @ 3.1% Cu and 16m @ 7.6% Cu4
EPM19125 is within the Mary Kathleen Domain, part of the Mt Isa Inlier highly prospective for copper-gold mineralisation, and hosts Aeris Resources Ltd (ASX: AIS) Barbara Deposit and Carnaby Resources Ltd (ASX: CNB) Cu-Au discoveries at Nil Desperandum and Lady Fanny Prospects
“The acquisition of EPM19125 is consistent with the Company’s strategy to explore and discover Cu-Au deposits in the highly prospective Mt Isa Inlier and continue to rapidly build a pipeline of quality early-stage targets to drill test systematically,” Managing Director Ian Warland said.
The Company will complete a ground evaluation of EPM19125 and other tenures to identify potential Cu-Au targets. RC drilling will begin in late October at Python and King Solomon prospects.
The Companys ASX-listed share has risen 8.62 per cent to 31.5c in early trade.
About Cooper Metals
Cooper Metals is a new Australian-based mineral exploration company focused on discovering copper and gold. Cooper Metals has three highly prospective Projects in Queensland and Western Australia. The Company’s modest capital structure makes the Company’s share price strongly leveraged for exploration success.
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