Copper Search Ltd (ASX: CUS) is pleased to announce newly identified heavy mineral sands potential at the Company’s Peake Project in South Australia.
SUMMARY
- Promising HMS assemblage of high-value zircon and titanium minerals – rutile, ilmenite and leucoxene identified in recent external review of the Peake Project, South Australia
- The Eromanga Basin is known to host significant HMS discoveries, including recent finds by Petratherm (ASX: PTR) and Marmota (ASX: MEU), underscoring the region’s strong HMS potential
- Assay* highlights of pan-concentrated grab samples include:
o 35% zircon, 20% Ilmenite, 20% leucoxene, 5% Rutile (CUSHM002)
o 25% zircon, 50% Ilmenite, 10% leucoxene, 5% Rutile (CUSHM001)
o 25% zircon, 55% Ilmenite, 5% leucoxene, 5% Rutile (CUSHM003)
o All with low amounts of “trash” minerals - Terrain features suggest potential trap sites for heavy minerals along the outcropping Peake and Denison Ranges
- The Peake Project area has an extensive thickness of HMS target horizons, host to heavy mineral sand deposits elsewhere
- A second tenement area (in application) reveals promising magnetic signatures that may indicate ilmenite-rich strand lines—an exploration model proven in regions like the Murray Basin
- Appointment of minerals sands expert Ian Warland as Principal Consultant
- Ian and his team discovered the world-class Jacinth – East Eucla HMS Deposits** (depleted) of 301Mt @ ~5.1% HM in South Australia and saw the project through to production for Iluka Resources (ASX: ILU)
- Titanium is listed as a critical mineral by the U.S. and EU for its key role in aerospace, defence, and medical sectors—vital for security, supply chains, and tech independence
Recent discoveries in the Eromanga Basin—such as Petratherm’s Rosewood Prospect— underscore the region's broader potential for significant HMS deposits. Prospective sedimentary basins often host multiple HMS systems; the Eucla, Murray, and Perth basins are clear examples.
While HMS may not be as well-known as other commodities, these deposits contain minerals critical to global supply chains. They are refined to produce titanium, zirconium, and rare earth elements—essential inputs across traditional industries and high-tech manufacturing. This makes HMS both commercially valuable and strategically important. The HMS potential at the Peake Project was identified by Ian Warland, a previous recipient of the “Discovery of the Year” award for his discovery of the world-class Jacinth HMS deposit in South Australia. I’m pleased to welcome Ian to the Copper Search team. His proven expertise—from project generation to feasibility and production—will be a major asset to our exploration efforts.
Importantly, this also represents a low-cost exploration opportunity for Copper Search. The potential occurs on our existing tenements and newly staked ground, and drill testing is conducted using a Toyota Land Cruiser–mounted air–core rig at a fraction of the cost of conventional methods. Upon the grant of the new ELA, we’ll move swiftly to ground-truth magnetic anomalies ahead of targeted drilling to test the scale and quality of this emerging opportunity.
I look forward to sharing the next stage of the journey with shareholders as we continue to identify, secure, validate, and develop our pipeline of high-quality drill targets.
Figure 1: Location Map of the Peake Project and new tenement application ELA2025_17 Eromanga Basin
* Samples from visual sachet logging by Diamantina HMS Laboratory, Perth. Samples were located on the Company’s EL6195 – grab sample was collected and pan-concentrated prior to laboratory submission for visual sachet logging. This is not a representative sample and was obtained to ascertain mineral assemblages of valuable heavy minerals (VHM) compared to ‘trash’ heavy minerals.
See Table 1 Page 7 of this announcement
** Iluka Resources Limited Resources and Reserve statement 31 December 2024
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