Resources Top 5: Cooper Metals investors riding with the horses on Brumby Ridge copper results

Cooper Metals makes a super start to the day’s proceedings on its best-yet copper results in Mt Isa, Qld
Metal Bank also has high-grade copper news… all the way from Jordan in the Middle East
Also making gains: MetalsTech, Western Yilgarn and Kingfisher Mining

Here are the biggest resources winners in early trade, Tuesday November 14.

Cooper Metals (ASX:CPM)

Cooper Metals raised the bat this morning after notching a ton in percentage gains on the back of very positive assay results from its Brumby Ridge and Raven copper-gold prospects at its Mt Isa East project in northwest Queensland.

The assay highlight in chief comes from the initial RC drill hole 23MERC024 at Brumby, which saw an interception of 50m at 1.32% Cu from 80m including 2m at 6.1% Cu and 0.23g/t Au.

Drilling at Brumby Ridge has also intercepted 72m at 1.5% Cu from 113m to end of hole, and mineralisation at the prospect is open in all directions, appearing to be improving with depth.

At Raven, meanwhile, the stats include: 15m at 1.0% Cu and 0.1 g/t Au from 35m within a wider intercept of 28m at 0.63% Cu & 0.061 g/t Au from 34m.

Further assay results from both prospects are due in December.

Source: Cooper Metals ASX announcement

Cooper Metals MD Ian Warland seems pretty stoked about it:

“To say we are pleased with the results of the initial scout drilling on five Cu-Au prospects is an understatement. The Brumby Ridge drill intercept is the single strongest mineralised intercept drilled by Cooper Metals in the last two years.

“Raven continues to expand with another great intercept into a home-grown conceptual target. These two prospects are now the Company’s main focus and are being followed up as we speak.”

CPM share price

Metal Bank (ASX:MBK)

Copper, gold and cobalt developer Metal Bank has some high-grade copper news from its Malaqa project all the way over in Jordan.

Rock chip analysis has confirmed up to 8.70% copper from the Malaqa NW area ~3km from the historic Um el Amad mine, and up to 2.51% copper in closer vicinity to said mine.

The company notes that its results come from similar host rocks as the Um el Amad mine, which support “a regional Cu blanket”, which sounds comforting.

Exploration work is ongoing, with further regional work planned in November and December.

High-grade #Copper results continue at Malaqa, Jordan

Rock chips return up to 8.70% Cu from new areas at Malaqa NW, 3km from Um el Amad mine

— Metal Bank Limited (ASX:MBK) (@MBKMinerals) November 13, 2023

Metal Bank’s chair Inés Scotland said:

“Our work completed to date clearly indicates the potential scale of copper mineralisation throughout the Malaqa area.

“Our work will now focus on identifying and expanding understanding of these mineralised units, both at surface and under shallow cover, to refine target areas for priority drill testing early next year.”

Hang on, the project’s in Jordan – which isn’t far from a certain major conflict currently playing out to devastating effect. Is this a concern for project operations?

Scotland, currently over there with his exploration team, noted: “I can report that the security situation here is consistent with the Australian and UK travel advisories as secure, and is not hindering MBK exploration activities.”

MBK share price

MetalsTech (ASX:MTC)

MetalsTech, a long-time gold project developer which joined the lithium hunt this year, is up on the release of a ‘robust’ scoping study regarding its Sturec gold mine in Slovakia.

According to MTC, the study, completed by independent consultant JP-Ant Geoconsulting, highlights “highly encouraging economics and technical viability” for the mine, emphasising its potential to become a low-cost gold and silver concentrate producer”.

The study determined that an underground mining operation “with a plant throughput of 2.3Mtpa and mine life of 9 years using tailings co-disposal in waste dumps” will be the highest value development option.

MetalsTech Director Gino D’Anna said: “Completion of Sturec’s updated Scoping Study marks a significant milestone achievement for the company and brings with it the rebirth of one of Slovakia’s historic mining operations.”

MTC share price

Western Yilgarn (ASX:WYX)

WA-focused junior critical minerals explorer Western Yilgarn is up more than 20% at the time of multi-tasking – coffee sipping and price checking. (Who said blokes can’t do it?)

But speaking of multi-tasking, WYX has a good handful of highly prospective projects across Western Australia, and its Julimar West PGE operation in today’s spotlight – thanks to the state government granting an exploration licence at the location.

This is big news because Julimar West is within spitting distance (if you can spit 2.5km) of the world-class Gonneville Ni-Cu-PGE discovery that belongs to Chalice Mining’s (ASX:CHN) Julimar project.

Chalice’s interpreted fault runs right into the Julimar West project area with mineralisation dipping towards the newly granted Julimar West licence.

#JulimarWest EL located adjacent to Chalice Mining’s (ASX: CHN) Julimar Ni-Cu-PGE Project in Western Australia has been granted. An airborne EM survey to commence, testing for extensions & repetitions of the Gonneville style of mineralisation.
Read: https://t.co/qOlPRzVskP $WYX pic.twitter.com/JvaVHL8ofy

— Western Yilgarn (@WesternYilgarn) November 13, 2023

The WA gov’s Department of Mines, Industry Regulation and Safety has granted the Julimar West Licence to Western Yilgarn for what’s a standard period – five years – and it will enable the company to kickstart its major exploration at the site, which will begin with a helicopter-borne electro-magnetic survey to define disseminated massive sulphide targets to over 500m vertical depth.

Western Yilgarn’s chairman, Peter Lewis, notes the licence has been highly anticipated, calling it a “pivotal moment in Western Yilgarn’s journey towards developing a successful exploration company”.

WYX share price

Kingfisher Mining (ASX:KFM)

Like a bunch of other ASX-listed explorers, Kingfisher is hunting minerals in WA’s highly prospective Gascoyne region. And why not – it’s worked out pretty well so far for big-mining-gun-attracting Delta Lithium (ASX:DLI).

KFM is moving nicely up and to the right today on the back of identifying additional carbonatites and REE mineralisation at its Mick Well prospect in the region.

Per this morning’s ASX release, highlights are as follows:

• Significant new strike lengths of REE mineralisation discovered from reconnaissance mapping close to recently identified gravity targets.

• Substantial REE system confirmed, with more than 13.5kmo f mineralisation mappeds o far within a 7km by 4km carbonatite complex.

• Assays from carbonatites and additional REE mineralisation expected in November, while fieldwork continues in the meantime.

Outcropping REE-bearing ferrocarbonatites and monazite-rich veins at Mick Well. Source: KFM ASX announcement.

Kingfisher boss James Farrell said:

“The latest discoveries confirm Mick Well is a very large and exciting REE system that extends over an area of mor ethan 7km by 4km.

“Our ongoing fieldwork has also identified outcropping ferro carbonatites together with monazite veining proximal to the recently identified carbonatite plug targets. These are the main ingredients for the world’s largest REE resources.”

KFM share price

At Stockhead we tell it like it is. While Western Yilgarn is a Stockhead advertiser at the time of writing, it did not sponsor this article.

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