Copper Search Set To Drill At Peake Project In South Australia

Copper Search Ltd (ASX: CUS) will start drilling next month to test for large-scale copper deposits at its Peake Project in South Australia.

A six-week diamond drill core program is planned to start on the 1st of June at the Paradise Dam and Douglas Creek Prospects.

These prospects have been prioritised from an initial 40 geophysical anomalies.

This was done through extensive geophysical surveys and drilling campaigns over the last two years.

Six-week program

The Douglas Creek Prospect is a large-scale shallow classic IOCG-style coincident “magnetics and gravity” anomaly.

Meanwhile, the Paradise Dam Prospect is defined by a strong chargeability anomaly which is 3 kilometres in strike.

The drilling program is expected to take about six weeks to complete at an all-in cost of $0.8M.

Copper Search intends to report laboratory assays rather than visual results, hole by hole as appropriate.

Regional exploration program

In parallel with the drilling program, regional exploration in May and June includes an early-stage geochemical sampling program to assess the gold potential on the Mt Denison claim.

A desktop assessment of alternative/non-copper mineral systems throughout the project is underway by consultant Dr David Rawlings.

What’s next?

Copper Search has already secured heritage clearances, drilling permits and the drilling contractor for the program.

Titeline, the drilling contractor, has extensive experience in the region and has drilled multiple IOCG deposits in South Australia.

The camp, drill pads, tracks and water supply are established and ready for the planned arrival of the drill rig on the 1st of June.

Copper Search is well-funded with $2.6M cash at the bank on 30 March 2024.

 

Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

Articles of Interest