Cooper Metals Ltd (ASX:CPM) has returned high-grade gold and copper values from a geochemical sampling program on the new Ardmore tenement within the Mt Isa East Copper-Gold Project in northwest Queensland.
The new rock chip sampling has defined two subparallel mineralised shear zones extending for around 1.1 kilometres and these remain open to the north.
Six of the 17 rock chips assayed to date have returned gold grades greater than 1 g/t gold along with up to 26.2% copper and results include:
- 26.2% copper and 2.0 g/t gold;
- 12.0% copper and 1.3 g/t gold;
- 2.6% copper and 1.0 g/t gold;
- 21.9% copper and 1.1 g/t gold;
- 14.4% copper and 1.2 g/t gold; and
- 11.5% copper and 1.7 g/t gold.
“Highest gold values”
Cooper managing director Ian Warland said: “These new assay results from Ardmore are very exciting and some of the highest gold values we have seen to date on our tenements.
“The new results build on the strong results we reported last November from the initial reconnaissance in the area.
“The rock chip sampling and mapping has now importantly defined two sub-parallel mineralised shear zones that may be the top of more significant mineralisation at depth.
“We plan to fast-track an induced polarisation survey and have already locked in a geophysical contractor for the task, ahead of any future RC drill testing.
“We look forward to updating the market with further results as they come to hand.”
Typical of IOCG
The copper-gold mineralisation is hosted in the Corella Formation associated with strong carbonate and iron oxide alteration typical of the IOCG-style of mineralisation in the area.
Several rock chip samples are still being processed at the laboratory and once assayed will help further define the mineralised trend at Ardmore south.
Moving forward, Cooper is planning to fast-track an induced polarisation survey over the area ahead of future planned reverse circulation (RC) drilling.
Sampling program
The Ardmore tenement adjoins Cooper’s existing tenement EPM27782, to the north and lies just north of Carnaby’s interpreted IOCG corridor defined by the position of Nil Desperandum, Lady Fanny and Mt Hope.
In the southern part of EPM19125, just 5.5 kilometres to the northeast of Carnaby’s Mt Hope prospect, rock chip sampling along two shear zones within the prospective Corella Formation returned several anomalous rock chip samples with grades up to 26.2% copper and 2.0 g/t gold.
Mineralisation is typically malachite dominated and hosted in two subparallel shear zones within the Corella Formation and associated with strong quartz carbonate and iron oxide alteration typical of iron oxide copper-gold (IOCG) mineralisation in the area
The surface mineralisation may be an indication of significant copper sulphide mineralisation at depth.
Forward plan
Cooper is awaiting further rock chip assays from Ardmore South and North.
The company says that there are several outstanding rock chip samples at the laboratory which will help further define the mineralised trend.
Further, Cooper aims to advance an induced polarisation survey over the area to help refine the most optimal drill targets at the prospect.