Cooper Metals has expanded its footprint in North West Queensland by buying 85pc of a mining lease in the highly prospective Mount Isa Inlier region.
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The company has bought into lease EPM28087 within the Mary Kathleen Domain, an area highly prospective for copper-gold mineralisation such as Round Oak Mineral's Barbara Deposit and Carnaby Resources's recent discoveries at Nil Desperandum and Lady Fanny Prospects.
Cooper Metals was oversubscribed when it went to IPO in November and its strategy is to be a major player in the Mount Isa Inlier by expanding its tenure over highly prospective and under explored areas of the province and with the new prospect their ground holding will grow from 1300 to 1500 sq kms.
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Cooper has identified several key Cu-Au prospects including the King Solomon and Python Prospects, both historical mines within the Mary Kathleen Domain without any previous drill testing
Cooper is planning to conduct ground geophysics at these prospects to optimise drill targeting.
Cooper Metals Managing Director Ian Warland said the new acquisition is part of Cooper's strategy to become a major player in the Mount Isa Inlier.
"The Company already has a commanding tenement position at its Mt Isa East Project," Mr Warland said.
"Importantly expanding its footprint in the Mary Kathleen Domain, a part of the Inlier recently subject to huge excitement as a result of Carnaby Resources. These discoveries made off the back of applying modern exploration methods over historical occurrences. Cooper has already identified several historical workings and conceptual targets for follow-up, most of which have no prior drilling, leaving the discovery potential wide open. I look forward to updating the market with our exploration progress over the coming weeks".
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
