Somerset Minerals (ASX:SMM) said the first two of eight recently completed drill holes from its Coppermine project in Canada intersected wide zones of high-grade mineralization, according to a Tuesday Australian bourse filing.
The company encountered intercepts of 59.4 meters at 1.5% grade of copper from 83.8 meters, as well as 27.4 meters at 1.5% grade of copper from 83.8 meters, per the filing. It also completed induced polarization surveys across both the Jura North and Jura South areas.
Somerset Minerals' shares fell nearly 6% in recent trading on Tuesday.