Cooper Metals Ltd (ASX:CPM) is fast-tracking its reverse circulation drilling program at the Raven prospect in the resource-rich Mt Isa region of northwest Queensland after intersecting significant copper-gold mineralisation early in the campaign.
Assays have been received for three holes drilled at the prospect, with one intersecting 10 metres at 1.27% copper and 0.17 g/t gold from 77 metres and 3 metres at 1.46% copper and 0.15 g/t gold from 100 metres, both within a wider intercept of 44 metres at 0.48% copper and 0.055 g/t gold from 59 metres.
This result is part of assays received from fourteen drill holes for 1,553 metres the ASX-listed explorer completed across the Mafic Sweats South, Brumby Ridge, Long Slot, Raven and Yarraman prospects in October.
Limited exploration
The Raven prospect was first discovered in July by ground truthing of an electromagnetic anomaly.
Visual sulphides were noted in some of the holes during drilling, with assays expected to be available later this month.
Of note, one hole intersected 21 metres of 1% sulphides from 3 metres and included the oxide copper mineral malachite.
Another intersected 24 metres of 1-2% sulphides from 35 metres, including two higher grade intervals.
The company believes Raven has significant potential to expand given the size of the geochemical copper pXRF soil anomaly and the magnetic anomaly, which has been modelled at about 400 metres long and dipping steeply.
Cooper is planning a small follow-up program with downhole electromagnetic survey over the new holes to aid further drill targeting.
RC drill chips from one of the Raven drill holes at 83-84 metres.
More strong results
At the Mafic Sweats South prospect, Cooper drilled four holes for 431 metres and intersected thick low-grade copper oxide mineralisation from surface.
Assays received included:
- 65 metres at 0.34% copper from surface;
- 66 metres at 0.25% copper from 6 metres; and
- 60 metres at 0.11% copper from surface.
Map showing RC drilling on pXRF soil grid, rock chip locations and VTEM anomaly at Mafic Sweats South.
This prospect is part of a larger area of copper in soil anomalism, historical workings and two magnetic conductors that stretches over an area about 2 kilometres long.
Notably, there is a 300 metre-long copper in pXRF soil anomaly about 1 kilometre along strike to the north-northwest of the recent drilling.
Cooper plans to continue exploration at the Mafic Sweats corridor for low-grade copper oxide, along with the higher-grade sulphide potential at depth.
Early but exciting days
“Intersecting significant copper-gold mineralisation near surface at Raven is exciting for the company and proof that our new targets generated with the use of geophysics and rapid geochemistry applied in this area is generating new discoveries," Cooper managing director Ian Warland said.
"It’s early days for Raven and Mafic Sweats South, however drill planning is already underway to complete follow-up drilling at Raven later this month before the end of the field season.
"We believe a combination of coincident VTEM, the significant copper geochemical footprint and the recent drill results at Raven, make this a compelling target, which warrants fast tracked exploration drilling.
"Mafic Sweats South drilling returned a large copper oxide intersection open in all directions and has untested sulphide potential at depth.”