Regulatory Delays Stall Gooroo Drilling Despite Strong Cash Position at Cooper Metals

Exploration Momentum Builds in Queensland

Cooper Metals Limited (ASX, CPM) has outlined its June 2025 quarterly activities, highlighting meaningful advances in its copper-gold exploration projects across Queensland and Western Australia. The company’s Mt Isa East and Oorindi projects in Queensland are at the forefront, with environmental and heritage permitting processes now underway. These approvals are critical steps toward planned drilling campaigns later this year, targeting underexplored low magnetic zones that have shown promising potential for Jericho-style mineralisation.

At Mt Isa East, Cooper is prioritising prospects such as Solo, Attina, and Grass, all located within a 2km radius of Carnaby Resources’ Mt Hope Copper-Gold Project. The proximity to a proven mineralised system adds strategic value to Cooper’s tenure, which covers approximately 1,637 square kilometres of highly prospective ground. The company’s ongoing data review and target refinement reflect a methodical approach to unlocking value from these assets.

Gilberton Gold Project, Early Stage but Promising

In Northern Queensland, Cooper completed its first field visit to the Gilberton Gold Project, situated within the Georgetown Inlier, a region known for orogenic and epithermal gold deposits. The project currently comprises three exploration licences, with two additional licences advancing through the grant process. The area’s proximity to ActiveX’s maiden mineral resource estimate of 310,000 ounces at 1.13 grams per tonne gold underscores its potential. Field observations of quartz vein styles and newly defined gold anomalies suggest further work is warranted to delineate targets for future drilling.

Western Australia’s Gooroo Project Awaits Regulatory Green Light

Meanwhile, the Gooroo Copper-Gold Project in Western Australia remains on hold pending regulatory approvals. The project, located northeast of Perth in the Murchison Province, covers a 26km greenstone belt with multiple untested targets identified since 2020. Cooper is actively engaging with regulatory authorities and stakeholders to secure the necessary permits. However, the timing of approvals remains uncertain due to pending biodiversity and conservation status changes, delaying planned maiden drilling programs.

Financial Position and Strategic Outlook

Cooper Metals ended the quarter with a robust cash balance of $1.86 million, supporting ongoing exploration and corporate activities. The company spent approximately $51,000 on direct exploration costs during the quarter, reflecting a disciplined capital allocation approach. The board continues to assess both local and international opportunities to augment the existing portfolio, aiming to secure high-quality projects that complement current assets and enhance shareholder value.

Non-executive director Tim Armstrong emphasized the company’s commitment to advancing its projects with a renewed focus on drilling and exploration. He acknowledged the patience of shareholders and signaled a more active phase ahead as permitting and project reviews progress.