Cooper Metals (ASX: $CPM) exploration update

Cooper Metals Limited (ASX: $CPM) has announced an oversubscribed placement, raising $3,500,000 to fund an exploration update on the Brumby Ridge Cu-Au Prospect within the Mt Isa East Cu-Au Project. The company is set to commence an induced polarisation (IP) survey over Brumby Ridge, Mafic Sweats South, and Yarraman, with plans to start around 1,000m of diamond drilling and up to 2,000m of RC drilling at Brumby Ridge to ascertain the size and grade potential of the mineralisation.

Executive commentary on Brumby Ridge prospect

We are ready to recommence drilling soon at Brumby Ridge. It's highly encouraging to see the strong chargeability response from the first line of IP indicating the mineralisation is wide, steeply dipping and extends at depth. This corroborates what we have learnt from our earlier drilling and surface results. Recent heavy rains have temporarily paused the geophysics, but the IP survey will restart soon once access is available and diamond drilling will commence shortly thereafter.

Summary of Brumby Ridge exploration update

Cooper Metals Limited (ASX: $CPM) has successfully raised $3,500,000 through an oversubscribed placement, providing funding for an exploration update on the Brumby Ridge Cu-Au Prospect. The company is preparing to commence an induced polarisation (IP) survey over multiple prospects and plans to start around 1,000m of diamond drilling and up to 2,000m of RC drilling at Brumby Ridge to determine the size and grade potential of the mineralisation. The recent heavy rains have temporarily delayed the IP survey, but the company remains optimistic about the prospects and is set to restart the survey and commence diamond drilling shortly. The Brumby Ridge Prospect, located approximately 30km to the east of Mt Isa, has shown promising results from previous drilling, and the company aims to further explore the depth potential of the chargeability anomaly to optimize drill targeting.