- 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.
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
A six-hole reverse circulation (RC) drilling program at the Peake Project
testing the Paradise Dam Prospect (formerly Target AC23 & AC24) has been completed.
Copper Search Ltd (ASX: CUS) (Copper Search or the Company) is pleased to advise that it has successfully received commitments to raise $1.0 million.