A new layered iridate material, Cu2IrO3, has been fabricated. This material is isostructural with the much-studied Na2IrO3 and has a nearly ideal honeycomb structure that should exhibit magnetic frustration. While Na2IrO3 magnetically orders at 15 K, data taken down to 2 K indicate that no long range ordering takes place in Cu2IrO3, resulting in a frustration factor of over 40. Thus the material is a promising spin liquid candidate. We propose to study the ground state down to millikelvin temperatures to see if the material exhibits either long-ranged magnetic order, short-ranged magnetic order, or spin freezing, and to search for signatures of magnetic fluctuations.