Ann: Ground geophysics identify robust conductors at Mt Isa East, page-48

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Bruce72

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02/03/22

19:36

Post #: 59936392
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Originally posted by GeoFiji: ↑

I am no geophysicist but I am a geologist and holder/student of Hammer and Carnaby and I have been watching Cooper but have not taken the plunge yet. So my take on the results and why the market has not responded positively so far:

The anomaly is not at the Python workings which downgrades the chance of a large semi-massive to massive copper sulphide ore body at that location.
The anomaly along the fault near Python is very encouraging but posters here have misinterpreted it. It has a strike length of 420m and a down dip dimension of 100m. This is not the thickness. Working on a 10m thickness as a guess (with no basis whatsoever) - 420x100x10x2.7= 1,134,000t. If this is 1% copper then it has 11,340t of copper. If it is thicker or higher grade then it gets more interesting, 10% copper would give 113,400t Cu. Hammer has JORC resources of 400,000t copper equivalent for those that want to know why they are valued more highly.
The anomalies may not be copper sulphides. There is a lot of pyrite and pyrrhotite out there. Only drilling or some surface copper signs will indicate copper sulphides are likely at the fault near Python. The announcement indicates the conductor comes to surface so the field verification will be very interesting.
Cooper is a great grass roots exploration play but if they find a significant copper deposit with their first drill hole they will be deemed as geniuses. Hammer has so many high grade copper hits and quite a few small JORC resources, large deposits are rare. Perhaps it may have sunk in that this is very grass roots and will very likely take time to evolve into the discovery of a major deposit.
If a large anomaly is present beneath the entire length of King Solomon then it is game on. We don't have confirmation of that yet.
Those that map out a path of share price rises like Carnaby need to understand how many long and high grade copper-gold drill hits they had over the last 6 months of 2021. The shares barely moved until the spectacular grade shoot was extended and thickened by drilling in late December, it had been hit months earlier in thinner form.
We don't know how many and where the other VTEM anomalies are. It will be interesting to see if any pattern or correlation with lithology or structural control is present.

I rate Cooper as a good grass roots exploration prospect with large ground holdings in a tier one mining region but it is a long way from being comparable to Hammer or Carnaby at present. At the moment it has had a great run on the back of holding ground near to Nil Desperandum and having low shares on issue similar to Carnaby.

DYOR. Not investment advice. One good drill hole or detailed analysis of the King Solomon anomaly revealing a considerable size could move the share price but it will require much more drilling to define a significant discovery or create JORC resources. I view Cooper as a long term hold to see what they can uncover in the next few years.

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Not purposely cross promoting GF, as I hold both copper plays. But go to CAE thread with a copper table that has been loaded up, comparison on a global scale !! Good to see we have an Aussie copper global representative.

This will triple bag in a heartbeat, like CPM will also in due course )
CPM Price at posting: 52.5¢ Sentiment: Buy Disclosure: Held
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Ann: Ground geophysics identify robust conductors at Mt Isa East, page-48

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Ann: Ground geophysics identify robust conductors at Mt Isa East, page-48

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