Cooper Metals Limited (ASX: CPM) has signed contract for approximately 20 holes for 2,000m of RC drilling to test the King Solomon and Python copper-gold prospects as the Mt Isa East Copper Gold Project in north western Queensland.
Drilling is expected to commence in early May at King Solomon and then at Python subject to final regulatory approval
Python Cu-Au Prospect
A single FLEM survey loop completed over Python prospect has identified a robust conductor at the north-eastern end of the prospect approximately 500m from known copper mineralisation and historical workings.
The conductor has been remodelled as a shallow south-easterly plunging body approximately 320m long and 100m down dip, projecting back to within 10m of surface. Further modelling indicates that the conductor dips moderately to the northeast. The conductor is coincident with a significant north-westerly trending fault that may have been important in hosting copper mineralisation.
Ground checking of the modelled conductor in March by Cooper geologists identified iron oxide rich gossanous rock in metasediments of the Corella Formation and importantly rock sample MER063 returned anomalous metals including 696ppm Cu, 47ppb gold and 0.14% sulphur.
The FLEM response indicates the conductor commences approximately 10m below surface, so any copper anomalism at surface is very encouraging. The conductor presents a logistically challenging target, with the drill access limited by steep terrain.
Cooper is working with government regulators to finalise drilling approval ahead of the planned drilling in May.
King Solomon Cu-Au Prospect
Two FLEM loops were used to cover ~1.2km length of mineralised trend, as defined from historical workings and surface geochemistry.
Encouragingly the FLEM has mapped an early time conductive response coincident with the Cu-Au mineralised trend, which may represent locally thicker regolith possibly due to preferential weathering over sulphides, structures or host lithology.
Further recent modelling has identified slightly higher amplitude response along the mineralised trend possibly reflecting some preferential characteristics of the underlying geology, possibly local weathering over more-sulphide rich zones, or more extensively altered part of the structure.
Additionally, there is a FLEM early time response possibly associated with a major lithological contact just to the west of King Solomon workings, which could be a preferential site for copper mineralisation.
Drill testing the old workings, higher amplitude FLEM responses along the mineralised trend and the lithological contact will be completed during the program. Regulatory drill approval (Environmental Authority) is in place for most of the King Solomon prospect, with the rest over King Solomon 3 expected sometime in May.
Drilling will commence at King Solomon 1 and 2 first and then move to King Solomon 3 and Python subject to final regulatory approval.
The Mt Isa East Cu-Au Project is less than six months old and is really starting to build significant momentum with contracts locked in for the maiden drilling programme at King Solomon and Python and the airborne VTEM survey over a significant area of our tenure,” Managing Director, Ian Warland, said.
“Ground checking of the Python conductor confirms the target has potential for copper mineralisation. With a successful heritage clearance completed in March and regulatory drill approval already confirmed for most of King Solomon, we look forward to commencing there in May.
“The rapid VTEM screening of a large part of Cooper’s tenure will hopefully supercharge the exploration effort for 2022. We look forward to updating the market as results come to hand.”