Assays Confirm IOCG Style Mineralisation in Drilling

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Figure 1. Quartz vein (15cm) with bornite (blue), pyrite and minor chalcopyrite at 221.2m
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SUMMARY

  • Drill hole 23PK01 on the Target AC23 within the Peake Project in South Australia, has successfully intersected shallow IOCG-style mineralisation – confirmed in assays from diamond core samples
  • Multiple narrow intervals of typical IOCG elements were intersected including: copper up to 0.45%; gold up to 5.35 g/t Au; uranium up to 64 ppm; and IOCG pathfinder elements Ce+La up to 2025 ppm
  • Target AC23 has a significant 3.8 mGal gravity anomaly with a footprint of 1,400m by 800m, and is located on the fertile Karari Shear Zone
  • 23PK01 was drilled to 458m at limit of rods and cased for re-entry subject to assays and IP survey results and may not have fully tested the target
  • An IP geophysics survey was completed over the weekend for potential follow-up drill testing

Best Drill Intersections from Drill Hole 23PK01

  • Minor native Copper present from 122m on fractures
  • 0.5 metres of 0.45% Cu and 0.67 g/t Au from 152m
  • 7.1 metres of 0.15% Cu and 0.05 g/t Au from 183m
  • 12.7 metres of 0.14% Cu and 0.55 g/t Au from 293m; including
    o 1.2 metres @ 0.44% Cu and 0.21 g/t Au from 305m; and
    o 1.1 metres @ 0.15% Cu and 5.35 g/t Au from 293m
  • IOCG pathfinder elements La+Ce, up to 2025 ppm (227-228m)

CEO Duncan Chessell commented:

We are very pleased to see the hallmarks of a shallow IOCG-style mineral system, in our first. drill hole utilising the new exploration strategy, at Target AC23. Fender Geophysics has just completed a high-powered IP survey to identify potential follow up drill targets of chargeable zones within Target AC23. Target AC23 is a large-scale gravity anomaly of 1400m by 800m in size with a strong 3.8mGal gravity anomaly. Simultaneously to the IP survey over AC23, we have commenced drilling the compelling ISCG-style Target AC30 located 4km to the SE of the AC23.

We look forward to a very busy next six months of drill testing multiple large-scale IOCG and ISCG targets.

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WATCH: CEO Duncan Chessell goes into more detail about how
Copper Search (ASX: CUS) has defined the targets like AC23 (3min)

The Company will update the market on potential drilling plans for Target AC23 in early August; meanwhile drilling at Target AC30 has commenced.

MORE INVESTOR UPDATES
FROM THE PEAKE PROJECT

AGM Presentation & Results (2023)

Copper Search Ltd (ASX: CUS) is pleased to provide investors with the opportunity to watch an Investor Presentation from CEO Duncan Chessell. The presentation covers the ongoing drilling plans for the high-priority IOCG targets at the Peake Project.

Read More

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