Coppermoly Plans 1,500m Tungsten Drilling at Wyemandoo with Active QLD Surveys

Wyemandoo Emerges as High-Grade Critical Minerals Hub

Coppermoly Limited (ASX:COY) has turned its attention to the Wyemandoo Project in Western Australia, acquired earlier this year, following a detailed review of historical drilling and sampling data that highlights its potential as a multi-commodity critical minerals play. The project, located 80km southeast of Mount Magnet, hosts an extensive 10km-plus pegmatite corridor rich in tungsten, rubidium, titanium, tantalum, and lithium.

Historical rock chip samples from Wyemandoo have returned standout assays including up to 13.1% tungsten, 1.82% rubidium, 1.66% titanium, and 4,800ppm tantalum. Additionally, reverse circulation drilling from 2022 revealed widths of 2 to 20 metres with rubidium oxide grades exceeding 0.1% to 0.5%, alongside pervasive high-grade titanium mineralisation from surface to end of hole. These results underpin the company’s strategy to prioritise tungsten targets in upcoming exploration.

Upcoming Exploration: Geochemical Sampling and Drilling

Coppermoly plans to commence grid geochemical sampling across all four Wyemandoo tenements in the next quarter, refining priority targets before launching a 1,500-metre RC drilling program focused on the 4.5km-long tungsten-mineralised corridor. This drilling campaign aims to validate and expand on the high-grade tungsten mineralisation identified in historical data.

Tungsten’s designation as a critical mineral by the Australian government, alongside the US and EU, underscores its strategic importance in defence, aerospace, semiconductors, and high-performance tooling. The metal’s spot price for ammonium paratungstate surged past US$3,000 per metric tonne unit in April 2026, a nearly 900% increase over the prior year, with the global market projected to grow from US$5.4 billion in 2025 to over US$9 billion by 2034.

Queensland Prospects Advance with Geophysical Surveys

In Queensland, Coppermoly has initiated ground magnetic and geochemical sampling programs at the Fox Creek copper-gold project near Cloncurry, advancing exploration on targets linked to historical mining and aeromagnetic anomalies. The company is also preparing to extend these surveys to the Windy Hill project, where a new copper target has been identified based on historical lead-zinc anomalies, and to the Dynamite and Rennies prospects.

The Windy Hill copper prospect, originally identified by CRA Exploration, features mineralised breccia and gossanous zones associated with quartz veining, magnetite concentrations, and proximity to the Wimberu Granite contact; characteristics reminiscent of the Ernest Henry and Osborne deposits. Follow-up ground magnetic surveys at Dynamite and Rennies aim to validate regional aeromagnetic and Geotem anomalies, further refining drill targets.

Financial Position and Operational Spend

Coppermoly closed the June quarter with cash and cash equivalents of $331,000, down from $442,000 at the previous quarter’s end. Exploration expenditure amounted to $52,000, reflecting ongoing field programs, while administration and corporate costs totalled $60,000. The company did not engage in any mining or production activities during the period.

Payments to related parties, specifically $50,400 in fees to Managing Director Dickson Leah under existing remuneration agreements, were disclosed in compliance with ASX rules. The company’s cash runway currently covers just under three quarters of planned operating and exploration outgoings, emphasizing the need for careful capital management as exploration ramps up.