Cooper Metals has entered a binding asset swap agreement with AIC Mines to acquire 100 per cent of the Pyramid gold project in north Queensland, marking a strategic shift to strengthen its exploration portfolio.
Under the agreement, Cooper Metals will exchange its non-core Oorindi project for Pyramid, a move the company said will enhance its focus on high-quality gold and copper assets.
The Pyramid gold project is located in a prolific gold region – the Drummond Basin – with a total known endowment exceeding 5 million ounces and is near major historical deposits such as Pajingo and Mount Leyshon.
The project hosts an established high-grade gold system, with historical drilling at the Gettysberg prospect returning significant intercepts, including 35 metres at 6.1 grams per tonne (g/t) gold and 15 metres at 5.65 g/t.
An approximately 8-kilometre section known as the Gettysberg Fault corridor remains largely undrilled, presenting substantial upside potential for further discoveries both along strike and at depth.
Cooper Metals plans to begin field activities promptly after the transaction is finalised, with multiple priority drill targets already identified.
Cooper Metals non-executive director Tim Armstrong described the deal as “highly compelling”, noting it positions the company near some of north Queensland’s most significant historical gold mines and aligns with its broader growth strategy.
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