Cooper Metals Limited is gearing up for significant drilling programs across its Queensland and Western Australia projects, supported by a robust cash position and favourable copper-gold market dynamics.
- Fully approved 1,000–1,500m drill program set for Mt Isa East’s Ardmore North
- Ongoing soil and rock-chip sampling at Gooroo and Gilberton projects
- Gilberton project advancing with Sybella Metals’ IPO and BFS underway
- Strong cash reserves of $1.44 million maintained at quarter end
- Active assessment of acquisition opportunities to complement portfolio
Exploration Momentum Builds at Mt Isa East
Cooper Metals Limited (ASX, CPM) is poised to commence a fully approved reverse circulation drilling program targeting copper and gold mineralisation at its Mt Isa East project in Queensland. The upcoming 1,000 to 1,500 metre drill campaign at the Ardmore North prospect follows extensive geochemical sampling and heritage clearances, positioning the company to test high-priority targets identified through recent soil and rock-chip assays.
The Ardmore North area, located near established projects by Carnaby Resources, has revealed promising copper and gold anomalies, including rock-chip samples with up to 7.88% copper and 4.49 g/t gold. These results underpin the company’s confidence in expanding its regional target generation and advancing exploration activities post-wet season.
Progress Across Diverse Project Portfolio
Beyond Mt Isa East, Cooper Metals continues to develop its Gooroo copper-gold project in Western Australia’s Murchison Province. Although no fieldwork was conducted this quarter due to regulatory approvals pending within conservation areas, the company is actively refining its Program of Works to facilitate maiden drilling. Historical rock-chip results at Gooroo include exceptional gold grades up to 48.3 g/t, highlighting the project’s potential.
In Queensland, the Gilberton Gold Project is advancing through a strategic partnership with Sybella Metals Pty Ltd, which has secured seed funding and is progressing towards an ASX listing in early 2026. Cooper Metals retains a 20% interest in Gilberton and will be free-carried through to the completion of a Bankable Feasibility Study, reflecting confidence in the project’s development trajectory.
Financial Position and Market Outlook
Cooper Metals ended the December quarter with a healthy cash balance of $1.44 million, supporting ongoing exploration and corporate activities. The company’s disciplined capital management and tight shareholder base provide a stable platform for advancing its projects and pursuing new acquisition opportunities.
Market conditions remain favourable, with copper prices near all-time highs driven by structural supply constraints and robust demand fundamentals. Non-executive director Tim Armstrong emphasised the positive sentiment in the resource sector, noting that these dynamics underpin Cooper Metals’ exploration strategy and investor confidence.
Looking Ahead
As Cooper Metals prepares to initiate drilling at Ardmore North and progresses regulatory approvals for Gooroo, the company is well positioned to deliver exploration results that could significantly enhance its asset base. The upcoming months will be critical in validating historical anomalies and unlocking value across its portfolio.
Bottom Line?
With drilling imminent and market tailwinds strong, Cooper Metals is set to define its next growth phase.
Questions in the middle?
- When will the maiden drilling results from Ardmore North and Gooroo be released?
- How will Sybella Metals’ IPO impact Cooper Metals’ strategic position and valuation?
- What new acquisition targets is Cooper Metals considering to complement its existing projects?