Somerset Minerals Advances Nunavut Copper Project with High-Grade Discoveries and Maiden Drilling Planned

High-Grade Copper Intercepts Extend at Jura

Somerset Minerals (ASX:SMM) has confirmed thick, high-grade copper mineralisation at its Jura prospect within the Coppermine project in Nunavut, Canada. Recent drilling at Jura North returned standout results including 42.7 metres at 2.69% copper from just 15.2 metres depth, with significant intervals of up to 3.96% copper within that zone. Diamond drilling has extended mineralisation down-dip to approximately 240 metres, with intercepts such as 18.8 metres at 1.21% copper from 228 metres, and the system remains open at depth.

Jura is emerging as a standalone copper district, with mineralisation confirmed over a 3-kilometre strike within a fault zone interpreted to extend beyond 7 kilometres. Numerous high-grade targets remain untested along this trend, including a 10.7-metre intercept at 2.55% copper at Jura Central, located about 3 kilometres south of Jura North. These results highlight the potential to build out a long-term copper pipeline within the district-scale landholding.

Talisker Anomaly Sets Stage for Maiden Drilling Campaign

Beyond Jura, Somerset has identified a major regional target at Talisker, a 17-kilometre-long coincident geophysical and geochemical anomaly linked to the same fault system that hosts White Cliff Minerals’ Danvers deposit, approximately 5 kilometres away. Early surface sampling at Talisker has returned copper values exceeding 1,000 parts per million (0.1%), with a peak till sample hitting 3,790 ppm copper (0.38%). These results are exceptional for a district-scale survey and underpin Talisker’s status as the highest-priority target for immediate follow-up.

Somerset plans to commence maiden reverse circulation drilling at Talisker from July 2026, with permits secured for up to 100 holes and a rig already mobilised on site. Recent infill soil sampling and mapping across the 17-kilometre corridor aim to refine discrete drill targets. Assay results from surface samples are expected within the next 2–4 weeks, which will provide further clarity on the anomaly’s potential.

District-Scale Opportunity in an Underexplored Copper Province

The Coppermine project spans a vast 1,665 square kilometres of largely underexplored terrain dominated by the Coppermine River Group basalts, host to numerous high-grade copper lodes. The geology features large-scale faults controlling mineralisation, with copper occurring as chalcocite, bornite, and native copper within brecciated fault zones and stratigraphic horizons.

Somerset’s systematic exploration approach combines a late-2025 airborne magnetic survey, designed to detect demagnetised magnetic lows associated with copper mineralisation, and a comprehensive soil geochemistry campaign on a 1x1 km grid. Integration of these datasets has identified 21 coincident regional anomalies, with Talisker leading the charge. This method mirrors successful greenfields exploration strategies that have uncovered major copper deposits globally.

Addressing the Copper Supply Deficit through Greenfields Exploration

Somerset’s activities come amid a widening forecast copper supply deficit, with industry data projecting a 12% shortfall by 2030 and a significant decline in new copper discoveries over the past decade. The company positions Coppermine as a district-scale platform to deliver discovery-led copper growth, targeting multiple high-grade deposits across a largely unexplored region.

With a market capitalisation of approximately A$21 million and cash reserves near A$3 million as of March 2026, Somerset is well-funded to advance its exploration programs. The company’s near-term catalysts include assay releases from ongoing Jura drilling, surface sample results from Talisker, and the maiden RC drilling campaign at Talisker commencing in July 2026, all of which will be closely watched by investors seeking exposure to copper’s tightening supply dynamics.