Copper Search Ltd (ASX: CUS) has commenced phase one of 2023 drilling with a four-hole diamond core programme at the company’s Peake Project in the Gawler Craton of South Australia.
Drilling aims to identify large scale IOCG targets (Iron-Ore-Copper-Gold) deposit, with targets of similar scale potential to Prominent Hill and Carrapateena. All drill sites have secured necessary drill permits and heritage clearances and drill pads have been prepared. Drilling commenced earlier this week and is progressing well on the AC23 with a target depth of approximately 300m.
The AC23 drill target is along structure from recently identified IOCG style mineralization at the Wills Prospect on neighbouring AIC Mines Limited tenements. Both the Wills prospect and AC23 target are positioned on the regional scale Karari shear zone. Importantly AC23 is positioned where the NE trending Karari shear intersects a NW trending structure.
The intersection of large regional scale structures is a prime location for emplacement of an IOCG deposit. The 3.8mGal gravity anomaly identified by Copper Search through detailed research and significant gravity station data acquisition at AC23 occupies the most likely place for emplacement of an IOCG deposit.
Next Steps
Once AC23 is completed, the rig will then drill and case the remaining three pre-collars during May with drilling of the diamond tails to commence in late May / early June on Curdimurka-01 (CU01), followed by Ruby Hill-02 (RH02) and Callanna-06 (CA06).
A concurrent regional exploration is underway to identify further drill targets in the northern half of the Peak Project.
Background
Over the past nine months, Copper Search completed a detailed review of the Peake Project and additional geophysical surveys and modelling was undertaken to complement the previous data.
The most significant conclusion of the project review narrowed the exploration search space to structural corridors associated with deep-tapping Mesoproterozoic faults and Mesoproterozoic intrusive rocks, which have been demonstrated to be crucial to forming IOCG deposits in other districts (e.g. Olympic Domain, Gawler Craton, Cloncurry District in QLD). The data collected from drilling to date was incorporated to re-rank all targets.
Targets were ranked against known IOCG deposits and prospects to provide an absolute scale to justify drilling. This identified thirteen targets for infill geophysics, heritage clearances and further investigation. This was refined over the last few months to an initial four-hole drill program to test the highest-priority targets.
For further information please visit: https://www.coppersearch.com.au
