Looking for Copper and Gold in Mt Isa - A Project Update from Cooper Metals Limited (ASX: CPM)
Rooster Talk Episode 53
Today's mineral exploration story is an update from 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.
The Rooster Talks about how things are progressing for Cooper Metals Limited since our first conversation in December 2021. The share price for the company has risen substantially as Carnaby Resources Limited (ASX: CNB) made a significant discovery nearby. The announcement on the 17th December 2021 had set the scene for similar discoveries in this region, as described below,
The RC pre-collar to NLDD044 has intersected a 34m down hole zone of copper sulphide including a 24m zone of mostly semi massive copper sulphide containing 5-40% chalcopyrite based on visual estimates
When the next announcement on the 29th December 2021 came out with the assays, it was a race for the young and old.
The title read
"MAJOR COPPER GOLD DISCOVERY 41m @ 4.1% COPPER, INCLUDING 9m @ 10.3% COPPER AT GREATER DUCHESS PROJECT"
41m @ 4.1% copper, 0.5 g/t gold from 247m
Incl. 24m @ 6.5% copper, 0.7g/t gold from 251m
Incl. 9m @ 10.3% copper, 1.2g/t gold from 264m
The Mt. Isa East project is now in play and Ian and his team are edging to get out there and prove that they too have similar potential.
What is on offer is that the company has a market capitalisation of $20M and it is just near discovery. I think that if (and there is a good chance) discovery happens for Cooper Metals, this will be north of $100M.
"Copper is where you see it on the surface", says Ian Warland.
I am seriously doing my own DYOR on this story. I like this project a lot. Rarely do I express my excitement but this is very different and the potential is still in the ground. As Ian mentioned in the video, this is just the beginning and the latest geophysical surveys are indicating some reasonable target.
In addition, Carnaby has shown the world that there is more in the ground than people have thought off in the last few decades. All the fruits may still be in the ground.
Let's listen to these chapters
01:14 Ian Warland updates.
01:58 What does the latest geophysical surveys mean for the current projects?
04:26 Is Python and King Solomon the key prospects in Mt Isa?
06:37 How has the recent news from your neighbours helped in the Cooper Metal Story.
08:48 Mt Isa has had a big gap between historical data and current exploration.
11:09 What is the market saying to you?
13:21 What's the news flow coming up?
15:02 When does the drilling happening?
15:40 Is it a case of "Don't Drill a Perfectly Good Project" ?
16:59 Last words from Ian Warland.
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.
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