Cooper Metals Ltd (ASX:CPM) is encouraged by results from a recent induced polarisation (IP) survey at King Solomon 1 prospect of the Mt Isa East Copper-Gold Project in northwest Queensland.
These results follow a successful November reverse circulation (RC) drilling campaign at King Solomon 1 where the company revealed more significant copper-gold intercepts including results from hole 22MERC0551:
- 17 metres at 1.7% copper and 0.38 g/t gold from 49 metres including 4 metres at 6.2% copper and 1.31 g/t gold (western zone); and
- 9 metres at 2.5% copper and 0.25 g/t gold from 94 metres including 5 metres at 4.2% copper and 0.39 g/t gold (middle zone).
Seven dipole-dipole (DP-DP) cross-section lines and one long-section DP-DP line were used to 3D model the chargeability and resistivity response at King Solomon 1, mapping out a chargeability response correlating with sulphide mineralisation and/or magnetite alteration at King Solomon 1, providing robust drill targeting.
Notably, King Solomon 1 copper-gold mineralisation remains open to the north and down dip.
Assay results for the remaining drill holes are in process at the laboratory and expected shortly.
“After the recent success of the November drilling program where we announced the newly discovered western zone of mineralisation parallel to the main mineralised shear zone at King Solomon 1 copper-gold prospect,” CPM managing director Ian Warland said.
“The new IP survey indicates a robust chargeability response continuing at depth, especially in the southern part of King Solomon 1.
"IP has been successful in mapping out the mineralised system to date, hence there is excellent potential for mineralisation to continue at depth and the southern shoot of King Solomon 1 is a high priority.
"The rest of the drill assays including five new holes at King Solomon 1 are in the laboratory and we look forward to updating the market as results come to hand with our plans going forward.”
More about the survey
The IP survey was completed by Australian Geophysical Services, which was testing for chargeability response beneath the current drill depth (~150 metres deep) to around 250 to 300 metres deep.
Results are encouraging and highlight an untested chargeability anomaly at depth, with the southern end of King Solomon 1 showing the strongest response.
The IP survey consisted of seven dipole-dipole (DP-DP) lines oriented across strike (~600 ) of the mineralisation and one DP-DP line oriented along strike (~3300 ) of the mineralisation.
The eight new DP-DP lines along with the IP gradient array data acquired last July were used by Cooper’s consultant geophysicist to generate a 3D model of the IP response.
The IP model indicates three high chargeability responses consistent with the three plunging mineralised shoots delineated by the RC drilling.
A review of drill results to date indicates that IP chargeability response at King Solomon 1 is strongest when coincident with either copper-gold mineralisation, pyrite and/or magnetite alteration, providing a robust targeting method at depth.
Importantly, the southern chargeability response extends at depth, plunging to the SSE (LON:SSE), which may indicate strong potential for copper-gold mineralisation in this area down to at least 250 metres below surface.