Cooper Metals Ltd (ASX:CPM) has grown the Mt Isa East Project in northwest Queensland after finalising the acquisition of Ardmore Resources Pty Ltd which holds EPM19125 within the Mary Kathleen Domain at the highly-prospective Mt Isa Inlier.
This acquisition adds more than 1,600 square kilometres to Cooper’s already extensive land position at Mt Isa East Copper-Gold Project.
The new tenement provides significant exposure to the highly-prospective Fountain Range Fault and subsidiary structures that contain large volumes of hydrothermal fluid flow, mineralisation and is the focus of significant exploration for large-tonnage copper deposits to the northeast of EPM19125.
Mt Isa East Project location, including new acquisition tenement over regional geology and main prospects.
Immediate follow-up
Cooper intends to immediately explore the new tenement areas to follow up on two known historical copper mines and historical rock chip samples up to 5% copper and 5 g/t gold.
The tenement also appears to be along strike to the north from Carnaby’s interpreted iron oxide copper gold ore deposits (IOCG) corridor and recent drilling at Mount Hope that returned 60 metres at 3.1% copper and 16 metres at 7.6% copper.
EPM19125 overview of tenement area over simplified geology.
Consistent strategy
Cooper Metals managing director Ian Warland said: “Cooper has finalised the acquisition of Ardmore Resources Pty Ltd and now owns 100% of EPM19125 located within the highly prospective Mt Isa Inlier, which hosts Carnaby Resources copper-gold discoveries at Lady Fanny and Nil Desperandum just south of Cooper’s existing tenure.
“The acquisition of EPM19125 is consistent with the company’s strategy to explore and discover copper-gold deposits in the highly-prospective Mt Isa Inlier and continue to rapidly build a pipeline of quality early-stage targets to systematically drill test."
Forward plan
Cooper will continue to conduct desktop and on-ground evaluation of EPM19125 and other tenures at the Mt Isa East Project to identify potential copper-gold targets.
It expects to begin reverse circulation drilling at the Python and King Solomon prospects in late October.
Ground truthing of versatile time domain electromagnetics (VTEM) anomalies is being conducted.