The Queensland Government has assessed that a planned versatile time-domain electromagnetic (VTEM) survey by Cooper Metals Ltd (ASX:CPM) over a Mt Isa East Project tenement will contribute materially to addressing knowledge gaps and contributing to the discovery of critical minerals in the state.
The state government awarded CPM $137,500 as a collaborative exploration initiative grant in support of the company’s efforts, acknowledging the potential contribution to geology and mining in Queensland.
The VTEM survey will be carried out at newly acquired tenement EPM28087 over 725 line-kilometres covering the entirety of the tenement, which sits within the Mary Kathleen Domain – an area highly prospective for copper-gold mineralisation.
Effective technology for copper exploration
“Cooper is very pleased to receive the CEI grant for the VTEM survey which will rapidly accelerate exploration over EPM28087,” Cooper Metals managing director Ian Warland said.
“A review of the Queensland Government’s 2016, 2-kilometre-spaced regional VTEM data identified two VTEM anomalies in prospective Corella Formation rocks, which is one of the compelling reasons to fly a detailed survey of the area.
“Another compelling reason is the nearby Barbara deposit is thought to have a VTEM signature, demonstrating the usefulness of this method in identifying sulphide-rich copper mineralisation.
“I look forward to updating the market with our exploration progress over the coming weeks.”
Cooper has signed a contract with UTS Geophysics Pty Ltd to fly the detailed, 300-metre-line spaced survey, which will begin in early May this year.
Mt Isa East Project Location, including new acquisition tenement over regional geology and main prospects.
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