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CopperCorp is a copper exploration company with ~1,800 km² of tenure (about 2% of Tasmania) in two belts near the Mount Lyell district. The company plans to begin drilling at the Hydes prospect first; CEO Stephen Swatton said drilling was expected to start “this weekend.” Hydes is described as “completely permitted,” while at Jukes the company has secured access, applied for government permits, and notes one steep pad may require helicopter access. Jasper is scheduled for testing in the same program to target an EM conductor beneath historical high-grade copper samples. At Hydes, recent channel sampling reproduced historical BHP trench results (24 m at 0.74% Cu and 0.36 g/t Au) and aligns with gravity and magnetic anomalies; IP surveys are underway with plans for real-time interpretation during drilling.
TLTW
- 1) Hydes/Jukes drilling
CEO Stephen Swatton said, “We’re anticipating drilling will start this weekend,” beginning at Hydes, with Jukes as the follow-up if weather interferes. They “recently received drilling permission from Hydro Tasmania” and may run “two rigs on at the same time,” pending logistics. “Hydes is completely permitted” and “we’ve got all permits in place” to start immediately; at Jukes, they “secured access on the other side of the road” and have “applied for [government permits]… we haven’t been turned down for any permit,” noting one steep pad may require helicoptering equipment. - 2) Hydes channel sampling + geophysics
The company rediscovered an old trench at Hydes and “came up with the same numbers” reported by BHP in the 1960s (24 m at 0.74% Cu and 0.36 g/t Au) with the trench results aligning with modern gravity and magnetic anomalies; field geologists reported high sulfide content (5–10%) in sampled breccia, and early thin-section work indicates copper is in the matrix. IP surveys are underway, with “real-time IP interpretation” planned during drilling. - 3) Cash
Swatton said they had “about $1.6M before financing” and raised capital so as not to operate below ~$2M; insider participation included Swatton and Director Sam Garrett, with a “large position” taken by Doug Kerwin, and “more than 15” participants overall, where “Crescat was the largest, but only just marginally,” and Crescat “hadn’t sold one share” and sought to remain under 9.9%. The company “now holds nearly $4 million,” describing it as sufficient for current programs. - 4) Jasper target
Jasper is described as a new EM anomaly in a different rock unit and the site of an “old mine,” with historical “amazing grades of copper”; it “is going to be drilled during this program,” with a plan to test an EM target directly beneath high-grade material (“4–5% plus copper grades”), and is considered a potential base-metal target (possibly zinc or tin). Stephen characterizes Jasper as having “low-cost drill access.” - 5) Land position and external interest
Swatton described CopperCorp’s holding as a “very large land position… roughly 1,800 km² in two main mineral belts,” amounting to “2% of the land surface of Tasmania,” focused near the long-running Mount Lyell camp; he confirmed that a mid-tier company “has already made a second site visit,” noting interest from “midsize companies.”
CopperCorp CEO Interview With Stephen Swatton
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