Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Somerset Minerals has intersected multiple wide zones of visible copper sulphide mineralisation at Jura North in holes JURC005 and JURC006.

  • The true thickness of the mineralised envelope at Jura appears to increase with depth, pointing to the potential for a larger system.

  • Assay results from JURC005 and JURC006 are pending, with outcomes expected within approximately two weeks.

Somerset Minerals Limited (ASX:SMM) saw its shares rise 23.8% to close at AUD 0.013 during the trading session on 18 September 2025. The increase followed the company’s announcement of significant visible copper mineralisation at the Jura prospect, part of its flagship Coppermine Project in Nunavut, Canada.

Drilling Update at Jura

The company has completed two new drill holes, JURC005 and JURC006, designed to test the down-dip continuity of mineralisation from an earlier intercept in JURC001, which returned 42.7 metres at 2.69% copper from 15.2 metres.

Results from the latest program indicate multiple zones of intense visible sulphides across both holes.

  • JURC006 recorded mineralised intervals over 85.4 metres, including 7.6 metres from 83.8 metres, 10.7 metres from 94.5 metres, 25.9 metres from 112.8 metres, and 15.2 metres from 153.9 metres.

  • JURC005 intersected 56.4 metres of mineralisation, including 9.1 metres from 68.6 metres, 15.2 metres from 83.8 metres, 9.1 metres from 102.1 metres, and 10.7 metres from 114.3 metres.

Both holes demonstrated multiple stacked zones of copper mineralisation, predominantly chalcocite with minor native copper and chalcopyrite. When modelled in three dimensions, the true thickness of the mineralised envelope appears to increase at depth, suggesting potential for a larger system.

Assays for both holes have been dispatched and are expected within two weeks. Ground-based induced polarisation (IP) and electromagnetic (EM) surveys have also been completed to test the strike and depth continuity of the system, with results pending.

Exploration Program Objectives

The Jura North drilling forms part of Somerset’s Phase Two exploration program, targeting approximately 500 metres of strike with ten holes totalling around 1,500 metres. The program is designed to expand the known mineralised footprint and progress towards defining a maiden resource.

Mineralisation at Jura occurs along a 7-kilometre fault trend supported by historical drilling, geophysics, and high-grade surface sampling, which included assays of 19.10% copper and 21.1 g/t silver. The northern segment already hosts a historical resource.

Coppermine Project Overview

Somerset’s Coppermine Project spans 1,665 km², making the company the largest landholder in the region. The project includes 102 exploration licences and an exclusive exploration right with Nunavut Tunngavik Incorporated. More than 90% of the project area is underlain by the Copper Creek Formation basalts, which are known to host high-grade copper mineralisation.

The geology of the project is analogous to Michigan’s Keweenaw Peninsula deposits, which host native copper in flood basalts and sediments. Mineralisation within the project area occurs in three styles: fault-hosted copper (2%–45%), basalt flow top replacement copper (2%–15%), and sediment-hosted copper (0.25%–2%).