Copper Search unearths another Peake drill target next door to BHP in South Australia’s Gawler Craton
Special Report: An IP geophysics survey at the Paradise Dam prospect has identified another chargeability drill target at Copper Search’s Peake project – and it has all the right ingredients for hosting a large copper deposit.
Copper Search (ASX:CUS) has outlined another chargeability target at Paradise Dam, within the wider Peake project in South Australia’s Gawler Craton, following a recent IP geophysical survey.
The anomaly – up to 50mV/V strength and 3km in strike – has been identified along a north-west structure crosscutting the Karrari Shear Zone.
CUS says the new target is interpreted to be due to increasing scale (concentration and/or mass) of disseminated sulphides, as encountered in holes 23PK11 and 23PK01, and warrants follow-up drilling.
Moderate concentrations of IOCG pathfinder elements were also encountered.
With characteristics like its good structural position, demonstrated fertility of copper-gold mineralisation up to 0.5% in diamond drill core and scale over 3km in strike length, CUS believes it has a “compelling” new target on its hands.
“Assays from drilling at the Richard Dam prospect have also indicated proximity to an IOCG system with significantly elevated IOCG pathfinder elements such as cerium, lanthanum, neodymium and praseodymium,” CUS chief executive Duncan Chessell says.
“Further geochemical and petrography studies are under way to assess further drilling opportunities.”
The Paradise Dam prospect became high priority for CUS after the initial drilling returned results with narrow intervals of typical IOCG elements (copper, gold, uranium, lanthanum, and cerium).
It is positioned 18km southwest along the fertile Karari Shear Zone (KSZ) from the Wills prospect, where neighbouring explorers also intersected IOCG-style mineralisation in 2022.
CUS also completed new IP surveys with the aim of defining the full extent of the chargeability anomaly.
Once all IP surveys are completed, a heritage survey is planned for this month, prior to follow-up drilling.
This article was developed in collaboration with Copper Search, 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.