Somerset reveals a broader copper district beyond its Talisker discovery

Talisker expands from discovery hole to copper corridor

Somerset Minerals Ltd (ASX:SMM) is presenting Coppermine as more than a single copper discovery after drilling extended mineralisation across approximately 2km at Talisker, within a much larger 17km geochemical and geophysical anomaly. The company says only about 11% of the anomaly has been tested, leaving the main demagnetised fault zone and much of the broader corridor undrilled.

“A 17 km-long anomaly, and a ~300 m-wide alteration corridor.”

“Consistent silver: silver tracks copper through every high-grade zone (up to 64.6 g/t Ag).”

Caption and image © Somerset Minerals Limited. From “Corporate Presentation. High-Grade Copper.”, 11 Nov 2026.

The strongest reported intersections include 36.6 metres at 1.62% copper and 11.8 grams per tonne silver in TARC0003, including 9.1 metres at 4.39% copper, and 38.1 metres at 1.27% copper and 7.4 grams per tonne silver in TARC0008. Subsequent holes extended the system north and south, although grades and widths varied between holes. Somerset describes the mineralisation as structurally controlled and chalcocite-dominant, with silver accompanying copper through the higher-grade zones.

“Talisker: The Best Targets Are Still Undrilled.”

The presentation consolidates the story from the company’s October Talisker drilling campaign and argues that the targeting method has now been validated by a blind discovery beneath glacial cover. The company says it intends to test the larger central fault zone, where the first-pass drilling largely focused on a smaller parallel structure.

Jura adds a second high-grade exploration front

Talisker is only half of Somerset’s current exploration case. At Jura North, maiden drilling returned 42.7 metres at 2.69% copper from 15.2 metres, including 16.8 metres at 3.96% copper, while later holes extended mineralisation to roughly 370 metres down-dip. The company says the mineralisation remains open and sits within an approximately 7km trend containing several untested targets.

“Jura Central: ~3 km south, JURC003 (10.7m @ 2.55% Cu, incl. 4.6m @ 5.55% Cu³) is yet to be followed up by drilling.”

“The first holes ever drilled into the Talisker corridor returned 36.6m @ 1.62% Cu and 38.1m @ 1.27% Cu –a blind discovery that validates the method³.”

Caption and image © Somerset Minerals Limited. From “Corporate Presentation. High-Grade Copper.”, 11 Nov 2026.

Jura Central, around 3km south, has also returned 10.7 metres at 2.55% copper, including 4.6 metres at 5.55% copper, but has not yet received follow-up drilling. Nearby Skye and Nor offer additional targets, supported by selective surface rock-chip results including 46.3% copper at Skye and 31.6% copper at Nor. Those samples indicate high-grade occurrences at surface, but are not necessarily representative of mineralisation across the project.

21 targets create scale but also a capital challenge

Across the 1,677 km² Coppermine land package, Somerset has identified more than 110 copper occurrences and 21 coincident regional targets. The company’s exploration model combines airborne magnetics, till geochemistry and structural interpretation to narrow a large search area into drill-ready targets. Jons Pit, where historic sampling returned up to 19.9% copper, and a never-drilled anomaly along the Teshierpi fault are among the next areas identified for testing.

“1,515 km² of Copper Creek basalts, with little to no exploration since the late 1960s.”

Caption and image © Somerset Minerals Limited. From “Corporate Presentation. High-Grade Copper.”, 11 Nov 2026.

Somerset says permits are in place for up to 100 holes and two exploration camps, providing the operational platform for a larger field program across Talisker, Jura, Skye, Jons Pit and other regional targets. Yet the presentation also records cash of $1.06 million at 30 September 2026, alongside 1.6046 billion shares on issue and 510.2 million options. That makes the scope and funding of the next campaign an important practical question, even as the geological pipeline expands.

Next drilling must convert geological promise into scale

“7.6m @ 1.26% Cu, from 97.5m.”

The presentation is largely a strategic restatement of previously reported exploration results rather than a fresh assay release. Drill intersections are downhole widths, with true widths not yet known, and the company’s forward plans remain indicative. The key test now is whether drilling across the main Talisker fault and the wider Jura district can establish continuity, geometry and scale beyond the strongest individual intersections.