Somerset Minerals (ASX:SMM) has released an investor presentation dated November 2026 outlining its Coppermine Project in Nunavut, Canada, highlighting two copper discoveries — Talisker and Jura — made within 18 months of first-pass drilling across a 1,677 km² land package containing more than 110 mapped copper occurrences.

Key Points

  • First holes drilled into the blind Talisker corridor returned 36.6m @ 1.62% Cu and 38.1m @ 1.27% Cu, with mineralisation confirmed over 2 km of strike
  • Maiden drilling at Jura North intersected 42.7m @ 2.69% Cu from 15.2m depth on a 7 km trend, with Jura Central (10.7m @ 2.55% Cu) remaining open
  • 2026 rock chip sampling returned 47 of 86 samples greater than 1% Cu and 19 samples greater than 10% Cu, with results up to 46.3% Cu at Skye
  • The company holds 1,604.6 million shares on issue, cash of $1.06 million as at 30 September 2026, and a market capitalisation of $8.02 million at an indicative $0.005 per share
  • The project is permitted for up to 100 holes and two camps; less than 10% of the 17 km Talisker anomaly has been drilled, with 20 analogous untested targets remaining

Talisker Corridor Drilling Results

According to the filing, the first holes ever drilled into the blind Talisker corridor returned intersections of 36.6 metres at 1.62% copper and 38.1 metres at 1.27% copper, with mineralisation now confirmed over 2 km of strike. The search space was reduced from 1,677 km² to a 3.4 km anomaly at Talisker, with 12 out of the first 14 scout holes intersecting mineralisation. The filing states that less than 10% of the 17 km Talisker anomaly has been drilled and that 20 analogous untested targets remain across the project area. The project is permitted for up to 100 holes and two camps.

Jura Discovery and Regional Rock Chip Sampling

The filing discloses that maiden drilling at Jura North intersected 42.7 metres at 2.69% copper from 15.2 metres depth on a 7 km trend, while Jura Central returned 10.7 metres at 2.55% copper and remains open. Regional rock chip sampling conducted in 2026 returned results from 86 samples, with 47 samples exceeding 1% copper and 19 samples exceeding 10% copper. The highest result recorded was 46.3% copper at the Skye prospect. The filing notes that the Coppermine Project contains more than 110 mapped copper occurrences and 21 coincident untested regional targets within the 1,677 km² land package.

Corporate Structure and Capital Position

The filing discloses that Somerset Minerals has 1,604.6 million shares on issue, with a market capitalisation of $8.02 million calculated at an indicative price of $0.005 per share. Cash held as at 30 September 2026 was $1.06 million, with an enterprise value of $6.96 million. The company has 510.2 million options on issue, including 225.3 million options at $0.02 expiring September 2029, issued in September 2026. The board comprises Non-Executive Chairman Mike Edwards, Managing Director Chris Hansen, Director and Company Secretary Melanie Ross, and Executive Technical Director Alex Vilela, who is named as the Competent Person for exploration results disclosed in the presentation.