Annual Report to Shareholders (2023)

The Copper Search team has identified numerous high-quality IOCG (iron-oxide-coppergold) targets with this new geological lens. Our team has ranked and confirmed each of these targets, with special emphasis on assessing their economic scale potential. Encouragingly when the best targets have been put to the ultimate test – the drill bit – the early results from this new exploration strategy have been encouraging. The first drill hole of the current program, at Target AC23, intersected multiple narrow intervals of typical IOCG mineralisation.

As we transition to a carbon-neutral economy, I believe that our goal of making a new and significant discovery that will help meet the world’s seemingly insatiable demand for copper – an essential component in the production of electric vehicles, wind turbines, and other electronics – will not only yield benefits for Copper Search shareholders but also for our world as a whole.

I would like to thank my fellow directors, our CEO, Duncan Chessell and our entire team for the significant work program delivered over the past year and look forward to success in our current drilling campaign.