en.Wedoany.com Reported - Australian mining company Coppermoly (ASX: COY) has initiated a new geophysical and geochemical exploration program at key targets in the Fox Creek and Wendy Hill projects in the Cloncurry region of northwest Queensland.
The work focuses on advancing multiple copper-gold-molybdenum targets south of Cloncurry, with ground magnetic surveys underway at four targets and geochemical sampling planned at a new copper target within the Wendy Hill project.
The company expects the current geophysical survey program to be completed by the end of July, with results anticipated to be released by the end of August 2026.
Within the Fox Creek project, ground magnetic surveys have begun targeting the Miss Lorna Hit and Williams prospects. The Williams target is following up on regional copper stream sediment and Geotem anomalies identified on both sides of the tongue-shaped Soxby Granite, which Coppermoly believes may be associated with Ernest Henry-type copper-gold mineralization. The Miss Lorna Hit copper prospect contains historical mining sites and correlates with aeromagnetic anomalies; the area lacks electromagnetic data, and the current ground magnetic survey is a crucial step in improving target delineation.
After completing work at Fox Creek, the survey team will move to the Wendy Hill project to test the Wendy Hill copper target and a new unnamed target. Geochemical sampling will also be conducted within the ground magnetic survey area of the unnamed target, which was selected for follow-up after historical rock chip sampling returned lead-zinc anomalies.
The Wendy Hill copper prospect, initially identified by CRA Exploration, hosts mineralized breccia within rhyodacite volcanic rocks of the Argylla Formation. Gossan zones associated with quartz veins occur near the Wendy Hill breccia, and the prospect is considered highly prospective for copper-gold and gold mineralization related to magnetite enrichment. This mineralization type is similar to that observed at the Ernest Henry and Osborne deposits, and the contact zone of the 1.5-billion-year-old Wimberu Granite is also considered prospective. Previous aeromagnetic surveys over parts of the tenement indicate that the Wendy Hill high-magnetic complex extends over 2 kilometers in a north-northeast direction, with previous work covering only a small portion of this complex.
Coppermoly also plans follow-up geophysical surveys at the Dynamite prospect and the Rennies Target 1 area. At Dynamite, ground magnetic surveys will test regional aeromagnetic anomalies aligned with major structures; at Rennies, the surveys will aim to identify the source of previously reported Geotem anomalies.
Coppermoly focuses on copper, gold, and molybdenum opportunities in the Mount Isa region of Queensland. The company's portfolio is prospective for iron oxide copper-gold and shear zone-hosted copper-gold deposits. Coppermoly has also expanded its footprint in Australia by acquiring four Western Australian tenements, complementing its five Queensland tenements, bringing the total project area to 1,805 square kilometers.
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