Altitude Minerals Faces Critical Drilling Tests to Validate New Heavy Mineral Sands and Gold Targets
Copper Search Limited made significant strides in the June 2025 quarter, revealing promising Heavy Mineral Sands potential in South Australia and securing a strategic option over a major NSW gold-copper project, while raising $1.15 million to fuel its exploration ambitions.
- Discovery of high-value Heavy Mineral Sands at Eromanga Basin with assays up to 35% zircon
- Secured six-month exclusive option to acquire Theseus Project in NSW’s Macquarie Arc
- Planned 4,000m air-core drilling program in Eromanga Basin scheduled for Q3-Q4 2025
- Completed $1.15 million capital raise supporting exploration and North American opportunities
- Company rebrands as Altitude Minerals to reflect diversified exploration strategy
Exploration Breakthrough in South Australia
Copper Search Limited (ASX – CUS) has marked the June 2025 quarter with a notable discovery of Heavy Mineral Sands (HMS) potential at its Eromanga Basin Project in South Australia. Grab samples collected during a reconnaissance trip yielded impressive assays, including up to 35% zircon, 20% ilmenite, and 5% rutile, all with minimal contaminant minerals. These results have prompted the company to secure additional tenements and prepare for a substantial 4,000-metre air-core drilling campaign planned for the latter half of 2025, pending heritage approvals.
Strategic Expansion in New South Wales
In New South Wales, Copper Search expanded its footprint in the highly prospective Macquarie Arc, a region renowned for world-class copper and gold deposits. The company secured a six-month exclusive option to acquire the Theseus Project from Rimfire Pacific, covering 455 square kilometres adjacent to the producing Cowal Gold Mine. Historical drilling data suggests strong gold and copper-gold porphyry potential, and Copper Search has commenced rigorous technical due diligence, including core re-logging and geophysical data reprocessing, led by industry experts.
Advancing the Byrock Project and Pipeline Development
Alongside Theseus, Copper Search continued to advance its Byrock Project, also in the Macquarie Arc, where detailed geophysical surveys have identified multiple high-potential copper-gold targets. The company is finalising a target ranking list to prioritize drill-ready prospects, with drilling permits expected to be submitted imminently. The team is actively pursuing NSW Government co-funding grants to support upcoming drilling activities, underscoring a methodical approach to building a robust exploration pipeline.
Capital Raising and Corporate Evolution
To underpin its exploration programs and business development initiatives, including opportunities in North America, Copper Search successfully raised $1.15 million through a combination of placement and entitlement offers. This capital injection strengthens the company’s financial position, with a cash balance of $1.0 million at quarter-end and additional funds received post-quarter. Reflecting its broadened commodity focus, shareholders approved a name change to Altitude Minerals Ltd, signaling a new chapter aimed at leveraging the company’s technical expertise across diverse mineral targets.
Looking Ahead
With a seasoned board and exploration team boasting involvement in discoveries worth over $100 billion, Altitude Minerals is poised to execute its strategy of identifying and advancing high-quality drill targets in top mining jurisdictions. The imminent drilling campaigns in South Australia and NSW, combined with ongoing project evaluations in Alaska, position the company to potentially unlock significant value for shareholders in the near term.
Bottom Line?
Altitude Minerals’ upcoming drilling programs and strategic expansions will be critical to validating its promising discoveries and shaping its growth trajectory.
Questions in the middle?
- What will the initial drilling results from the Eromanga Basin reveal about the scale and grade of the HMS deposit?
- How will the acquisition and development of the Theseus Project impact Altitude Minerals’ valuation and exploration focus?
- What are the prospects and timelines for securing NSW Government co-funding grants to support drilling activities?
