Rich Copper And Gold Intercepts Show Strong Grade Improvement
Coda Minerals Limited (ASX: COD) in conjunction with joint venture partner Torrens Mining Limited, have received outstanding assay results in two wedge holes drilled that have confirmed IOCG-style copper-gold mineralisation at Emmie Bluff Deeps Project in South Australia.
Drill-holes DD21EB0018W1 and DD21EB0018W2, are “wedge” holes drilled from positions at approximately 500m depth down the parent hole DD21EB0018.
Assay results from copper sulphide mineralisation intersected by the parent hole included a best intersection of 28.1m at 1.21% Cu, 0.37g/t Au and 2.3g/t Ag from 810.8m, including 4.8m at 2.16% Cu, 0.63g/t Au and 4.3g/t Ag from 816.8m.
DD21EB0018, the first hole in the company’s deep IOCG drill programme, was drilled to test the Emmie Bluff Deeps IOCG target, which forms part of Coda’s broader Elizabeth Creek Project in the heart of the Olympic Copper Province in South Australia.
CEO, Chris Stevens, said Coda is the operator and majority owner of the Elizabeth Creek Project, holding a 70% interest. Torrens holds the remaining 30% interest. Summary of Results The two wedge holes encountered copper-gold sulphide mineralisation broadly consistent with the previously released geological logs.
The highest-grade wedge intersections are as follows:
o Wedge 1: 17.1m @ 1.2% Cu, 0.3 g/t Au, 1.3g/t Ag from 824m
o Wedge 2 Upper: 24.0m @ 2.2% Cu, 0.3 g/t Au, 8.9g/t Ag from 815m; Including: § 3.0m @ 4.2% Cu, 0.3 g/t Au, 10.5 g/t Ag from 830m
o Wedge 2 Lower: 12.9m @ 3.5% Cu, 0.6 g/t Au, 25.4 g/t Ag from 902m; Including: § 3.2m @ 4.9% Cu, 1.3 g/t Au, 41.8 g/t Ag from 905m and § 2.9m @ 4.8% Cu, 0.3 g/t Au, 33.8 g/t Ag from 911
“These exceptional results further refine and de-risk our exploration programme,” Mr Stevens said.
“Building on the previously released assays from our first diamond hole, they give us further encouragement that we are closing-in on a large-scale IOCG deposit at Emmie Bluff Deeps. Wedge 2, in particular, is significantly more intensely mineralised than the parent hole, validating our exploration model.
“These are also the best-ever assays received from the Emmie Bluff IOCG prospect over many years of drilling by previous explorers.
“Our geological hypothesis is that these wedge holes have intersected more of the ‘apron’ of relatively flat-lying mineralisation that we believe surrounds a sub-vertical mineralising structure located close to DD21EB0018.
“These new assays demonstrate directionality through increasing copper grade and together with recent drilling data, assist in vectoring us toward a main mineralising structure.
“Our job now is to follow that vector with the drill rig and, in conjunction with ongoing geophysical work, to narrow down our target envelope. Our goal is to locate what we believe is a large, brecciated structure hosting high grade copper-gold mineralisation across a substantial vertical thickness.
“ From that perspective, we are particularly excited by the lower borniterich zone encountered in Wedge 2. Around 90 vertical metres separates the top of the upper zone and the base of the lower zone in this hole.
“That width provides a strong indication that any mineralising structure that we encounter in the area will be at least that vertically extensive. “Multiple drilling rigs are operating at Emmie Bluff Deeps, with two new surface drill-holes in progress and already well advanced, we anticipate further news flow over the next two to three weeks.”
For further information please visit: https://www.codaminerals.com/