Coppermoly Limited (ASX: COY) Quarterly Activities Report
Exploration Activities at Mt Isa
Coppermoly Limited (ASX: COY) reported significant progress in its exploration initiatives at the Mt Isa prospects during the December 2024 quarter. A targeted drilling program at the Shuffleton prospect confirmed new high-potential targets, leading to further geophysical and geochemical surveys.
Key activities included the initiation of geochemical surveys and soil sampling at the Fox Creek and Mount Tracey tenements, as well as the commencement of ground magnetic geophysics surveys.
New Management Team
The quarter also saw noteworthy changes in Coppermoly’s management. Mark Burke was appointed as Managing Director, while Quinn Lee became Non-Executive Director and Chairperson. The previous Managing Director, Dr Wanfu Huang, transitioned to focus on geological management alongside newly appointed board member Dr Minlu Fu.
Advancements in Granting Tenements
Coppermoly’s tenement acquisition strategy continues to show promise with the granting of the Malakoff tenement, EPM 28853, in November 2024. Coppermoly is strategically expanding its exploration footprint, now comprising four granted and four applied tenements in the Mt Isa Region, all 100% owned.
Future Outlook
The company aims to leverage its new management structure to propel its exploration efforts. Upcoming geological assessments and exploration plans are set for Q1 2025, focusing on the expansive prospects in the Mount Isa area.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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