Coffee with Samso Episode 122
Today's mineral exploration story is about Cooper Metals Limited (ASX: CPM) chasing for Copper and Gold. Ian Warland, Cooper's Managing Director, an exploration geologist with more than three decades of experience shares the concepts of the Cooper Metals story.
When I first looked at Cooper Metals I was surprised at the location of their tenure in Mt. Isa which is right in the heart of the Mt. Isa Inlier. It is very much like the Miramar Resources story with the Gidji JV in Kalgoorlie. The Mt. Isa East project is literally within stones throw from major deposits. There are deposits with world class numbers that are within the same region.
I am not saying that there is a like for like resemblance in the geology but it tells me that the region is a melt of mineralisation. A nearology story that has proven success and the fruits are well endowed. There is no doubt that Cooper Metals will find smoke in their exploration as they recently announced some great rock chips from existing trenches (Mt Isa East rock chip assays up to 35.3% Cu and 7.96g/t Au).
"Copper is where you see it on the surface", says Ian Warland.
My thoughts are that the Queensland project is the one to watch for now. As Ian mentioned, their next step is to fly a new geophysical survey which will give them more detailed understanding on where the potential mineralisation can be found.
The next targets for the company is the Yarmana Gold project and the Gooroo Gold project in Western Australia. These are more early stage projects but their potential is not to be ignored. I like the Yarmana Gold project as there are tenements that are adjacent to the world class Gruyere Gold mine which is owned by Gold Road Resources Limited (ASX: GOR).
The Gooroo Gold project may be my third choice but the recent change in understanding of the greenstone presence within the Gullewa Greenstone belt may be more than interesting.
The Project area is located within the Archaean Gullewa Greenstone belt in the Murchison Province of the Archaean Yilgarn Craton. The area is prospective for Archean gold and Volcanic Massive Sulphide deposits. Silver Lakes (ASX: SLR) Deflector Cu-Au deposit is located ~ 26km north of the Gooroo Project.
Let's listen to these chapters
01:05 Ian Warland introduces Cooper Metals Limited.
01:58 How did Cooper Metals get the projects?
05:14 How much of a correlation does surface mineralisation have with discovery?
08:00 Why did Cooper get the opportunity of these projects?
10:28 Neighbours in Mt. Isa are finding great results.
11:43 Comments on the recent announcement.
11:59 Copper is where you see in on the surface.
13:41 Was there a model of chasing nearby projects prior to listing on the ASX?
15:59 Geophysics have come a long way.
16:18 Reasons why Geophysics today, can change the prospectivity of a project.
17:21 The other projects.
18:12 The Gooroo Project.
19:45 Chasing concepts is how to find new deposits.
21:04 The Yarmana Project.
21:53 The Endless possibilities of Mineral Exploration.
23:35 Why the discoveries are being made from projects not loved/unloved.
25:20 What is the plan going forward?
27:32 Is there a labour issue for the company?
28:44 How long will this resource boom continue?
31:38 What is Ian's last words to investors?
33:21 The positives of the Cooper Metal story?
34:40 Uranium potential
35:47 Concluding comments from Samso.
36:49 Ian's concluding comments.
37:23 Potential for Copper Metals.
About Ian Warland
A highly experienced and successful geologist with 25 years’ experience in Australia and internationally over a wide range of commodities. Notably, a career highlight, was being joint recipient for “Explorer of the Year” in 2006 for the discovery of the Jacinth and Ambrosia zircon-rich mineral sand deposits.
Ian holds a Bachelor of Applied Science Geology with First Class Honours and university medal from the University of Technology Sydney. He also has a Graduate Diploma of Applied Finance and Investment and an Associate Diploma in Environmental Control.
In the last ten years Ian has worked primarily in the junior exploration sector as a geological consultant and in senior management positions for Musgrave Minerals and Marmota. After leading Twenty Seven Co Ltd as their CEO for the last three years, Ian is now Managing Director of Cooper Metals.
About Cooper Metals Limited
Cooper Metal’s flagship Mt Isa East Cu-Au Project covers over 1300 sq km of tenure with numerous historical Cu-Au workings and prospects already identified for immediate follow up exploration. The Mt Isa Inlier is highly prospective for iron oxide copper gold (IOCG) and shear hosted Cu +/- Au deposits.
Mt Isa East is complimented by two early stage Projects in WA within proven well mineralised districts. The Yamarna Gold Project located along strike from Gold Roads 6.16 Moz world class Gruyere Gold Deposit (ASX: GOR) has an extensive length of untested Dorothy Hills Shear Zone that was important in the formation of Gruyere < 10 km to the southeast.
Lastly the Gooroo Cu and Au Project covers newly identified greenstone belt ~20 km from Silver Lakes Deflector mine. The 26 km expanse of covered greenstone belt has had almost no exploration and was only added to government geology maps in 2020 after reinterpretation of geophysical data.
Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio
This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides).
The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate.