Copper Search Ltd (ASX: CUS) is pleased to announce the granting of two key tenements highly prospective for HMS at the Company’s Eromanga Basin HMS Project – South Australia. The Company is also pleased to announce further strategic ground staking, prospective for Heavy Minerals Sands (HMS). This follows the HMS potential recently identified at the Company’s existing ground near William Creek, SA, on EL 6195 “Anna Creek”. This included a pan concentrate grab sample consisting of 35% zircon, 20% Ilmenite, 20% leucoxene, and 5% Rutile, sample ID: CUSHM002, announced 26 May 2025.
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SUMMARY
- Strategic portfolio of HMS Exploration Licence Applications lodged in South Australia’s Eromanga Basin – further review ongoing
- Key application numbers ELA2025/017 and /019 granted as Exploration Licence EL7071 “Nilpinna” and EL7072 “Eddy” near William Creek
- Field work commencing next week to conduct mapping and sampling to prioritise drill targets
- Heritage survey planned for the last week of August with the Arabana Traditional Owners in preparation for the first HMS drill program
- 4,000m Air-core drill program planned at the Nilpinna, Anna Creek and Eddy Targets for Q3-4, subject to regulatory approvals
- Fully funded for the planned drilling program with the recent Placement and Rights Issue, combined $1.15m raised before costs.
Figure 1: Location Map of the Eromanga Basin Project
Building on the previously unrecognised exploration space, our team has quickly deployed machine learning tools, reviewed historical data sets, and added four prospective tenements by staking open ground. Further desktop review and low-cost boots-on-the-ground reconnaissance are highly effective in building a pipeline of prospective targets at the Company’s new Eromanga Basin HMS Project.
Work on our NSW Cu-Au Projects is ongoing with a small infill gravity survey on the Byrock Project due to be completed shortly to finalise high-priority drill targets.
We have also submitted grant applications for co-funding of drilling and geophysics costs to the NSW Government for both the Byrock and Theseus Projects. The NSW Government will announce its decisions on 30 September.
I am very pleased to see the back half of the year shaping up to be drill-ready on multiple targets for in-demand commodities Cu, Au, Ti and Zircon.
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