- Cooper Metals’ (CPM) latest batch of drilling results confirm mineralisation to a 170-metre depth at its King Solomon One prospect within the Mt Isa East project in Queensland
- The company released assays from samples taken from a recent reverse circulation drilling program, which involved 15 holes for more than 2300 metres
- New results from the work confirmed mineralisation down to at least 170 metres deep at King Solomon One, with results including one metre at 4.6 per cent copper and 0.23 grams per tonne gold
- The company says King Solomon’s potential for more growth is “very promising,” and will now review the results ahead of further drilling
- Cooper Metals shares are down 2.08 per cent to trade at 23.5 cents at 10:32 am AEDT
Cooper Metals’ (CPM) latest batch of drilling results have confirmed mineralisation to at least 170 metres deep at its King Solomon One prospect within the Mt Isa East project in Queensland.
The company released assay results from samples taken from a recent reverse circulation drilling program at the King Solomon and Python copper-gold prospects.
The bulk of the drilling was completed at King Solomon, with 15 holes for 2314 metres completed.
The King Solomon One program took place in November, which saw drilling take place under historical workings to test three plunging shoots.
The new results from this work confirmed mineralisation down to at least 170 metres deep, with results including four metres at 1.1 per cent copper and 0.04 grams per tonne (g/t) gold from 44 metres, including one metre at 4.6 per cent copper and 0.23 g/t gold.
“Importantly, the induced polarisation survey completed late last year indicates the mineralisation is likely to extend deeper, especially at the southern end of the prospect where the response is strongest,” Managing Director Ian Warland told investors.
Meanwhile, drilling at King Solomon Two returned “significant” shallow mineralisation, with assays of 16 metres at 0.8 per cent copper and 0.03 g/t gold from 12 metres, including five metres at 2.0 per cent copper and 0.05 g/t gold.
“Another important development is the significant shallow mineralisation intersected at the northern end of King Solomon 2 which is open at depth and along strike to the south,” Ian Warland said.
“King Solomon continues to grow in size and potential for more growth is very promising.”
The company said its next steps will involve reviewing the King Solomon results ahead of drawing up plans to continue drilling.
Cooper Metals shares were down 2.08 per cent to trade at 23.5 cents at 10:32 am AEDT.