Four Major Magnetic Anomaly Discoveries at Malakoff Prospect
Sydney, Mar 25, 2025 AEST (ABN Newswire) - Coppermoly Limited (
ASX:COY) is pleased to provide a summary of Ground Magnetic surveys and Gradient Array I.P Survey completed during Q1 2025 at COY's Malakoff prospect located in the Malakoff tenement EPM 28853, Northwest Queensland.
HIGHLIGHTS
- Completed 183 line kms of Ground Magnetic Survey at the Malakoff Prospect;
- Four large magnetic anomalies were mapped out;
- Completed nine I.P sounding lines, 6.1 line km at 100 line space with 40 m apart reading station, over A1 magnetic anomaly;
- Test drilling for Ernest Henry type of mineralisation is planned for the second quarter of 2025
Commenting on the discovery and survey results, Mark Burke, Managing Director; "To see results come through like this only a week after our 'Copper Valley' announcement, is another outstanding achievement and testament to the value of our world-class technical team and contract geophysicists, who braved the North QLD summer heat to rapidly implement Coppermoly's refreshed exploration strategy. Over the last 2 months we have already started the process of pre-approvals and preparation for drilling in the anticipation of good results. These efforts now put us in good stead for expediting test drilling and down-hole IP surveys planned for the month of April"
1. Ground Magnetic Survey at the Malakoff Project
Total 183.1 line Kms ground magnetic survey in an area of 8.914 km2 (total 9309 measure points at the 50m line space and 20m per station apart) has been completed. The TMI, RTP and 100m upwards continuation images are shown in Figures 3-5* respectively.
2. Preliminary Interpretation of the magnetic data
Three structure systems are interpreted at the surveyed area, namely the N-S trending, the NW-SE trending and the NE-SW trending structures. Four major magnetic complexes are revealed and marked as A1, A2, A3 and A4 respectively.
These magnetic anomalies are controlled by the NE-extending structure mainly and associated with the granite intrusive.
Based on the regional geological information, structurally the Malakoff prospect is very similar to the Ernest Henry Cu deposit, the NE-SW extending structure (possibly the shear zone) as the subsidiary structure of the N-S trending regional structure is the most important structure to host the Cu-Fe-Au mineralization. Situated in north-west Queensland, ~30km north-east of Cloncurry, The Ernest Henry discovery is a testament to the region's rich mineral wealth. Since its inception, Ernest Henry has emerged as one of the largest copper reserves in Australia and globally, originally boasting an estimated 167 million tonnes of ore, *2024 Mineral Resource estimate was 97.1 million tonnes at 1.30% copper and 0.76g/t gold for 1.3 million tonnes of contained copper and 2.4 million ounces of contained gold. (*Evolution Mining ASX announcement 14/2/2024)
3. I.P. Sounding Survey
Historical geophysical surveys in and around the Malakoff prospect reported that the area is characterised as a low resistivity feature. In 1995, Mr. Mark Webb, the senior geophysicist of WMC suggested that ground magnetic and I.P. surveys are of the best suitable geophysical tools to be applied for in area.
An IP Sounding survey using a time domain waveform were performed over the A1 magnetic anomaly at the Malakoff Prospect. Approximately six kilometres of data were measured along nine separate lines. The positions of the survey lines are shown on the Figure 6. Nine survey lines cover about the total area of 0.65 km2. The survey grid is 100 m line space and 40 m station apart with the total 153 stations have been recorded (Figure 6*). The distance of AB poles is 3000 m so it allows the I.P. sounding survey detect down to 600 m depth.
4. Preliminary interpretation of IP data
The IP Sounding survey recorded electric chargeability anomaly on all lines (Fig 7*). Overall, the chargeability anomaly zone is about 100 m thick, and dips to the east, with vertical shoots.
On the Line 9000 a chargeability anomaly zone (which is >25-40 mV/V) was recorded. This anomaly zone may be caused by copper mineralisation.
On a plane view, the chargeability anomaly is plunging to the south (Fig 8*).
Contouring was performed manually and using a computer-based interpolation routine that also included the combined complex conductivity data for further geological interpretation (Fig 8*).
5. Summary
Ground magnetic survey delineated four major magnetic anomalies at the Malakoff Prospect. Those magnetic anomalies are similar to that observed at Ernest Henry deposit.
Nine lines of IP sounding Survey over the A1 magnetic anomaly revealed the existence of an abroad electric chargeability anomaly zone at a depth from 100m to 400 m. This chargeability anomaly zone plunge to the south, and dip to the east. Preliminary interpretation suggested that the IP chargeability anomaly may be related to copper mineralisation zone, further modelling is warranted. Test drilling at the IP chargeability anomaly zone is planned for the second quarter of 2025.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/458TMS47
About Coppermoly Limited
Coppermoly Limited (ASX:COY) is a mineral exploration and resource development company rapidly advancing an exciting portfolio of copper/gold/molybdenum exploration projects in the resource rich Mount Isa Region of QLD. The newly refreshed management and geological team are focused on the accelerated exploration program and resource definition of their high value QLD targets. The Mt Isa Inlier is highly prospective for iron oxide copper gold (IOCG) and shear hosted Copper and Gold deposits.
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