Cooper Metals Ltd (ASX:CPM)'s Ian Warland discusses a binding agreement to acquire another gold-copper prospective tenement at the Mt Isa East Project in Queensland with Proactive.
The acquisition is a ‘bolt-on’ value addition, building on the Mt Isa Inlier that includes the Mary-Kathleen Domain, which hosts Carnaby Resources’ recent copper-gold discoveries at the Nil Desperandum and Lady Fanny prospects.
Cooper’s land holding in the area will be boosted to about 1,575 square kilometres once the acquisition has been finalised, providing a broad exposure to the local geological structures.
The company believes these areas are underexplored by modern techniques and may offer some cheap exploration wins and a strong copper-gold pipeline of targets.