Cooper Metals Limited (ASX: CPM) has identified a significant chargeability zone broadly coincident with copper-gold mineralized shear zones recently defined by mapping and rock chip sampling on the Ardmore tenement (EPM19125) within the Mt Isa East Copper Gold Project in north-western Queensland.
“The IP survey had been very encouraging with the chargeability anomaly broadly coincident with the copper-gold mineralized shear zone defined in the recent rock chip sampling and mapping,” Managing Director, Ian Warland, said.
“The combination of significant copper-gold in rock chips and IP chargeability anomaly presents a compelling drill target. The IP crew is completing two profile lines over the highest chargeability areas and a separate IP survey over a mineralized shear zone in the northern part of EPM19125, just 10km to the northeast of the southern IP grid. Further IP and rock chip updates will be available over the next few weeks, along with plans for drill testing.”
IP surveys were planned over two separate (northern and southern) grids on the Ardmore tenement. Results for the southern grid have been processed and show a significant chargeability feature on the eastern side of the grid, broadly coincident with the copper-gold mineralization identified by recent mapping by Cooper geologists.
The strongest part of the IP anomaly is in the north-eastern portion of the southern grid and is around 500m long with a peak chargeability of 22 mV/V, or around five times background. Importantly, samples MER115 and MER116 collected from copper veining, located at the southern end of this high chargeability zone contain significant copper and gold including, 21.9% Cu & 1.1g/t Au (MER116) and 21.3% Cu and 0.5g/t Au (MER115). The centre of the chargeability anomaly is yet to be mapped.
The geophysical field crew is completing two IP profile lines over the higher chargeability zones in the southern grid to test their depth extent and provide information for drill testing. Results are expected for these profiles in the next two weeks. The IP survey for the northern grid is still in progress.
Reconnaissance Sampling
Assay results for another 22 rock chips from Ardmore have been received with the best gold result a stunning 14.9g/t Au from an iron oxide gossan (MER168) located just 80m to the east of the chargeability high. As per the batch of samples announced in March, this new batch contains six samples with gold greater than 1g/t Au taking the total number of rock chips of 1g/t Au or greater to twelve out of the total thirty-nine assayed to date.
The copper grades are also typically high in the new batch of assays, with the copper mineralization 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) mineralization in the area. The mineralised shear zones have been traced for around 1.1km along strike and the IP anomaly indicates that it remains open to the northeast.
High gold grades tend to correlate with the high copper values with MER168 a notable exception. New samples with high copper and or gold (>1g/t) include:
• 12.2% Cu & 1.0g/t Au (MER145)
• 5.3% Cu & 0.0g/t Au (MER146)
• 11% Cu & 0.1g/t Au (MER147)
• 23.1% Cu & 2.2g/t Au (MER151)
• 18.9% Cu & 6.5g/t Au (MER152)
• 12.5% Cu & 1.0g/t Au (MER156)
• 22.4% Cu & 1.9g/t Au (MER157)
• 8.4% Cu & 0.1g/t Au (MER158)
• 0.8% Cu & 14.9g/t Au (MER168)
There are several outstanding rock chip samples at the laboratory which will help further define the mineralized trend. The surface mineralization in combination with the IP chargeability anomaly presents a compelling drill target and may be an indication of significant copper sulphide mineralization at depth. Cooper is now planning to fast-track RC drilling at Ardmore South to test for shallow copper-gold mineralization.
About Ardmore Tenement (EPM19125)
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.
The southern IP grid is just 5.5km to the northeast of Carnaby’s Mt Hope prospect.
Next steps and ongoing Geochemical Reconnaissance
• Further rock chip assay results from Ardmore South and North
• Completion of IP survey at Ardmore South and North
• RC drilling at Ardmore South
For further information please visit: https://www.coopermetals.com.au/
