Copper Search quarterly activities update

Copper Search (ASX:CUS) has released its quarterly activities report for the period ending 30 September 2024. The company concentrated on its Peake Project in South Australia, particularly winter drilling at Paradise Dam and Douglas Creek. While Paradise Dam drilling did not find significant economic mineralization, Douglas Creek confirmed a large-scale copper-mineralized IOCG-style prospect.

Copper Search quarterly report overview

Copper Search's latest quarterly activities report highlights its efforts at the Peake Project, focusing on the Paradise Dam and Douglas Creek prospects. Drilling at Paradise Dam explained the earlier detected chargeability anomaly, while Douglas Creek confirmed continuous low-grade copper mineralization. Following three drilling seasons, the company plans to pause for a detailed analysis and review by Professor Bruce Schaefer. Copper Search aims to maintain its Douglas Creek IOCG Prospect and explore partnerships or funding for further exploration. The company is also open to farming out uranium rights and optimizing less prospective grounds. Looking globally, Copper Search evaluates opportunities in copper, gold, nickel, and antimony, guided by its advisory team. As of the end of September 2024, the company has $2.4 million in cash. Upcoming efforts include a comprehensive review to steer future IOCG exploration and potential new project announcements in the next quarter.

Executive insights and strategic plans

Copper Search plans to pause its activities at the Peake Project for a near-miss analysis and review. The company intends to retain the mineralized Douglas Creek IOCG Prospect while seeking partners or alternative funding options.