Cooper Metals Limited (ASX:CPM) has finalised the acquisition of Ardmore Resources Pty Ltd and as a result now owns 100% of EPM19125.
This acquisition expands Cooper’s Mt Isa East Copper-Gold Project within the highly prospective Mt Isa Inlier.
EPM19125 is within the Mary Kathleen Domain, part of the Mt Isa Inlier highly prospective for copper-gold mineralisation and hosts Aeris Resources Ltd’s (ASX:AIS) Barbara Deposit and Carnaby Resources Ltd’s (ASX:CNB) copper-gold discoveries at the Nil Desperandum and Lady Fanny prospects.
Cooper continues to build a significant land position in the Mt Isa Inlier and at the completion of this acquisition will hold over 1,600 square kilometres of tenure.
The new tenement provides significant exposure to the highly prospective Fountain Range Fault (and subsidiary structures) that have demonstrated large volumes of hydrothermal fluid flow, mineralisation and currently the focus of significant exploration to the northeast of EPM19125 for large-tonnage copper deposits.
The new tenement has areas of immediate exploration follow up including two known historical copper mines and historical rock chip samples up to 5% copper and 5g/t gold.
The tenement also appears to be along strike to the north from Carnaby’s interpreted IOCG corridor and recent drilling at Mount Hope of 60 metres at 3.1% copper and 16 metres at 7.6% copper.
Cooper Metals managing director Ian Warland said: “The acquisition of EPM19125 is consistent with the company’s strategy to explore and discover copper-gold deposits in the highly prospective Mt Isa Inlier and continue to rapidly build a pipeline of quality early-stage targets to systematically drill test.”