Copper Search is living up to its name, with assays confirming Iron-Oxide-Copper-Gold (IOCG) style mineralisation – often host to highly valuable and economic concentrations of copper and gold – at its Peake project in South Australia.

Drill hole 23PK01 on target AC23 successfully intersected shallow IOCG-style mineralisation, including:

  • 5 metres of 0.45% copper and 0.67 g/t gold from 152m;
  • 1 metres of 0.15% copper and 0.05 g/t gold from 183m; and
  • 7 metres of 0.14% copper and 0.55 g/t gold from 293m; including 1.2m at 0.44% copper and 0.21 g/t gold from 305m and 5.5m at 0.14% copper and 1.13g/t gold from 293m including 1.1m at 0.15% copper and 5.25g/t gold from 293m.

The drill hole also returned IOCG pathfinder elements lanthanum and cerium, up to 2025 ppm (227-228m).

“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,” Copper Search (ASX:CUS) CEO and exploration manager Duncan Chessell said.

Identifying follow-up drill targets the plan

An (Induced Polarisation) IP geophysics survey was completed over the weekend for potential follow-up drill testing.

“Fender Geophysics has just completed a high-powered IP survey to identify potential follow-up drilling targets of chargeable zones with target AC23,” Chessell said.

Chargeable zones can indicate the presence of disseminated sulphides and on positive geophysical results, these chargeable zones will become high-priority drill targets.

The company will update the market on potential drilling plans for target AC23 in early August; meanwhile drilling at target AC30 has commenced.

“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,” Chessell added.

“We look forward to a very busy next six months of drill testing multiple large-scale IOCG and ISCG targets.”

 

Petrography and geochronology studies are currently underway to gain a better understanding of the exact nature, timing and age of mineralisation, and the company says its initial observations may require refinement upon the results of these studies.

This article was developed in collaboration with Copper Search Limited, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.