The September Quarter saw Copper Search expand its drilling program at the Peake Project in the Gawler Craton, South Australia. The Peake Project is prospective for Iron-Oxide-Copper-Gold (IOCG). The ongoing drilling program has been designed to test multiple largescale targets identified during an extensive project-wide review and by geophysical surveys undertaken over the last 12 months.
During the September quarter, the Copper Search team, drill tested three high-priority targets and conducted new geological surveys to refine targeting on potential follow-up drilling programs. All the new data collected has led the exploration team to focus its efforts on the Karari Shear Zone (KSZ). This geological structure runs NE-SW through the project and has proven to be fertile with IOCG-style drill intersections 18km apart at the neighbours (AIC Mines/BHP) Wills Prospect and CUS Target AC23.
Preparations for a six-hole RC drill program to follow up previous success from a single hole at Target AC23 were also made, with that drilling underway at the time of writing.
The cash position at 30 September 2023 was $3.7 million.
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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.