Cooper Metals Ltd (ASX:CPM) has fielded pyrite-dominated sulphides from its reverse circulation (RC) drill program at the Ardmore South, situated with the Mt Isa East Copper Gold Project in North West Queensland.
During the program, several holes intersected a thick sequence of trace to disseminated sulphides dominated by pyrite, with low levels of chalcopyrite observed in the RC chips.
Notably, the sulphides are hosted in Corella Formation rocks and display “red rock” alteration and zones of magnetite that may indicate an extensive large iron oxide copper-gold (IOCG) mineralised system with low levels of patchy copper mineralisation.
Moving forward, the first batch of 563 one-metre assays are at the Mt Isa laboratory with results due later this month, which will confirm the grade of any copper mineralisation.
Strong IP anomaly
Cooper managing director Ian Warland said: Preliminary visual analysis of the RC chips indicates a large low-grade pyrite-dominated sulphide body, that appears to explain the strong IP anomaly identified at Ardmore South.
“The pyritic sulphides contain trace to low levels of chalcopyrite confirmed with visual logging and the portable XRF.
“The first batch of drill samples are now due in late June, to test the grade of copper and gold of this large pyritic sulphide body.
“Cooper believes the Ardmore tenement remains highly prospective for copper-gold deposits, with several of the surface geochemical anomalies at Ardmore remaining untested by drilling and will be reinterpreted to maximise future drill programs.
“We look forward to updating the market as assays are received.”
Drill program
Cooper’s drill program comprised thirteen RC holes across 1,745 metres, primarily testing the 500-metre-long north-south striking strong induced polarisation (IP) chargeability anomaly and coincident copper-gold anomalism identified in soil and rock chip samples.
Seven RC drill holes were drilled into the 500-metre-long strong IP chargeability anomaly to test the source of the IP anomaly and coincident copper in soil anomaly.
The sulphides are hosted in siltstones of the Corella Formation and display moderate “red rock” and magnetite alteration, which may be indicative of a large iron oxide copper-gold (IOCG) system with very low levels of chalcopyrite.
Several holes intersected over a hundred metres downhole of trace to disseminated pyrite-dominated sulphides strongly coincident with the IP anomaly.
Forward plan
Cooper has more than forty prospects and mineral occurrences in around 1,600 square kilometres of tenure that it is actively exploring.
This field season Cooper is planning on completing scout drilling at several of these prospects including Wonder Mine, Yarraman, Mafic Sweats, Sylvia May trend and progressing geochemical sampling on Scorpion prospect, Mt Albert trend and new areas identified in the 2022 and 2023 VTEM surveys.
The next steps include:
- receiving and interpreting assay results for Ardmore and planning follow-up exploration drilling as required;
- VTEM ground truthing of new anomalies in EPM28087, follow-up geochemistry and geophysics as required; and
- ongoing regional geochemistry sampling and mapping.