Cooper Metals announces Mt Isa East FLEM results

Highlights

• A high powered FLEM has identified a robust conductor at the Python prospect, modelled as a shallow south-easterly plunging anomaly, extending approximately 420 m long and 100 m down-dip.
• Significantly, the Python conductor is coincident with a north-westerly trending regional fault, possibly important in focusing copper mineralisation.
• A separate FLEM survey has identified a conductive zone at King Solomon coincident with the known mineralised trend, striking over 1.2 km with Cooper’s rock chip samples previously returning up to 16.65% Cu and 2.58 g/t Au.
• The FLEM conductors at Python and King Solomon are coincident with airborne versatile time electromagnetic (VTEM) conductors, interpreted by Cooper’s consultant geophysicist from a 2016 regional VTEM survey.
• The FLEM surveys have helped to define a robust drill target at Python, and a developing model at King Solomon, whilst other regional VTEM conductors identified on Cooper’s ground will now be subjected to further investigation.

Cooper Metals Managing Director, Ian Warland, commented: “I am highly encouraged that our first high-powered fixed loop electromagnetic survey at Mt Isa East has identified conductors at both the Python and King Solomon Cu-Au prospects. The Python conductor is especially exciting with the modelled conductor extending for over 400 m and coincident with a significant regional fault. The use of publicly available VTEM data led Cooper to the Python conductor, confirming our strategy to use VTEM as an effective way of screening our tenure for sulfide rich deposits. To this end, Cooper has already signed a contract to complete a detailed VTEM in the June quarter. Importantly, Cooper now has initial targets for drill testing and our highest priority is to organise a drill programme, while continuing to generate a pipeline of high-quality Cu-Au targets.”

The FLEM programme finished on 26 February 2022 and initial results are now available.

Geophysical programme rationale and details

Cu-Au mineralisation at the Python and King Solomon Prospects is hosted in mixed siltstones, sandstones, and limestone of the Corella Formation. Both prospects have extensive historical workings in the form of shafts and small opencasts, significantly without any recorded drill testing. The geophysical programme comprised two separate survey blocks over each prospect with each block consisting of several traverses of three-component FLEM. The high-powered FLEM survey is the first of this type conducted on these historical prospects and was designed to identify the presence of conductive anomalies under the old workings that may indicate the presence of copper sulfide mineralisation at depth.

Python Cu Prospect

A single FLEM survey loop completed over Python prospect has identified a robust conductor at the northeastern end of the prospect approximately 500 m from known copper mineralisation and historical workings The conductor was modelled as a shallow southeasterly plunging body approximately 420 m long and 100 m down dip, projecting back to the surface. The conductor is coincident with a significant northwesterly trending fault that may have been important in hosting copper mineralisation.

Encouragingly, the FLEM conductor is coincident with an airborne VTEM anomaly identified by Cooper’s consultant geophysicist from a publiclyn available regional VTEM survey commissioned by the Queensland government in 2016. This proof of concept bodes well for other VTEM anomalies that have already been identified in Cooper’s tenure. There are no known workings or surface geochemistry in the vicinity of the Python FLEM conductor.

The modelled conductor identified in the FLEM survey provides Cop-per with a robust drill target that will be drill tested as soon as the necessary approvals and arrangements have been made. The historical workings at Python (which are offset 500 m from the new FLEM anomaly) did not resolve any conductor responses, which suggests a disseminated style of mineralisation or lack of conductive sulfides. The historical workings will be further tested as part of the broader drill programme planned at Python.

King Solomon Cu-Au Prospect

Two FLEM loops were used to cover ~1.2 km length of mineralised trend, as defined from historical workings and surface geochemistry. Encouragingly the FLEM has mapped a conductive response coincident with the Cu-Au mineralised trend. The higher conductive response is in the northern part of the prospect area around King Solomon 1 and is potentially mapping out copper sulfide mineralisation at depth. Modeling of the FLEM response at King Solomon is in progress to define the best targets for drill testing.

Significantly, as with the Python prospect, the King Solomon prospect also has a VTEM anomaly coincident with the FLEM anomaly, adding confidence to the applicability of the Queensland government’s 2016 regional VTEM survey for identifying potential Cu-Au anomalies. In addition to the VTEM anomalies associated with the Python and King Solomon, Cooper’s consultant geophysicist has identified several other regional VTEM anomalies on Cooper’s tenure which will be followed up with a detailed VTEM survey in the June quarter.

Mt Zsu Sui Prospect was tested with two FLEM loops as a trial, while the access to Python and King Solomon prospects was temporarily closed by swollen river crossings. No significant conductive responses were found at Mt Zsu Sui. An induced polarisation (IP) trial is being considered at a later date.

Next steps

• Complete FLEM modelling of King Solomon prospect.
• Ground truth new conductors at Python and King Solomon prospects.
• Finalise drill planning and approvals ahead of drill testing.
• Finalise detailed VTEM survey planning.

Read the article online at: https://www.globalminingreview.com/exploration-development/02032022/cooper-metals-announces-mt-isa-east-flem-results/