Cooper (ASX:CPM) cap off copper-gold drilling at Ardmore South

Cooper Metals has 563 samples on their way to the lab following the completion of RC drillings at its exciting Ardmore South copper-gold project at Mt Isa East in Queensland.

The 13-hole, 1745-metre campaign is the completion of a highly anticipated milestone along a 1.5-kilometre trend of high-priority targets, including a recently identified strong IP chargeability anomaly, stretching for 500 metres wide and looking likely to plunge into the depths.

“RC drilling is now complete at Ardmore South testing a strong IP chargeability anomaly with coincident copper-gold anomalism. Five hundred and sixty-three samples have been sent to the laboratory in Mt Isa and are expected in mid to late June. We look forward to updating the market as results come to hand,” Cooper Managing Director Ian Wardlaw said.

The Red Metal

While China’s floundering economic rebound continues to hold back short-term copper prices, the lines on multi-year graphs continue on course for global shortfalls.

Global supply is expected to fall 1.7 per cent short of demand by 2035, and regulatory approval for new mines has dropped to its lowest level in a decade.

Mines can take as long as two decades to come online, and Goldman Sachs is just one of the financial heavyweights predicting significant price rises in the coming years.

Forward Plan

A Government-backed VTEM survey over its newest Mt Isa tenements reaped in new targets for Cooper, who now has a pipeline of 40 early-stage drill targets to work on in a continually productive copper district.

The Perth-based explorer will continue geochemical sampling and mapping over its Mt Isa tenements while carrying out VTEM ground-truthing as it awaits drill results from Ardmore South.

Project location plan

COOPERMET FPO [CPM]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Cooper Metals Limited focuses on discovery and exploration of copper and gold deposits in Queensland and Western Australia, Australia. The company's flagship project includes the Mt Isa East project that covers an area of approximately 1,600 square kilometers located in the Mount Isa district of north-west Queensland. Cooper Metals Limited was incorporated in 2021 and is based in Perth, Australia.

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