Coda Minerals Limited (ASX: COD) has received further significant preliminary results from the ongoing IOCG drilling programme at Emmie Bluff Deeps, part of its Elizabeth Creek Project in South Australia.
Work Completed at Emmie Bluff Deeps to Date
- On June 9, 2021, Coda announced that its first diamond drillhole at Emmie Bluff Deeps IOCG target, DD21EB0018, had intersected 200m of intense IOCG alteration including approximately 50m of copper sulphide mineralisation.
- In July 2021, the initial intersection was followed up by announcement of visual estimates from two wedge (daughter) holes drilled from the parent hole which demonstrated a significant intersection of high‐grade bornite dominant copper mineralisation in Wedge 2. Subsequent assaying results confirmed the intersection of two mineralised lodes, namely 24m at 2.2% Cu and 0.3g/t Au and 13m at 3.5% Cu and 0.6g/t Au.
- In October 2021, the results from five additional drill holes, (two parent and three wedge holes) demonstrated a material increase to the lateral extent of the mineralisation. Holes EBD2 (parent) and EBD2W1 (wedge) demonstrated a significant increase in the thickness and intensity of visual sulphides. EBD3W2 returned a 67m intersection of intermixed bornite and chalcopyrite copper mineralisation (assays pending).
- These two bornite‐dominant intersections demonstrated the presence of a higher grade bornite‐rich core within an overall laterally extensive chalcopyrite halo at Emmie Bluff Deeps.
- In early December 2021, the Company completed four new wedge holes, two wedges from parent hole EBD2 (wedges 2W2,and 2W3) and two from EBD3 (wedges 3W2A and 3W3B) materially extending the lateral scale of the deposit, especially within the core bornite dominant zone.
At the time of finalising this announcement, assay results from the five drill holes for which visual observations of mineralisation have been released to ASX – EBD2, EBD2W1, EBD3, EBD3W1 and EBD3W2 – remain outstanding due to delays at assay laboratories. The company expects to receive and release the majority of these results prior to Christmas 2021.
Latest results
At the time of reporting on the four new wedge holes announced on 6 December 2021, a fifth wedge hole, EBD2W4, was ongoing having intercepted an indeterminate thickness of copper sulphides from 861m.
Wedge hole EBD2W4 has now been materially completed. Both field logging and hand‐held XRF measurements have confirmed the presence of material amounts of copper‐bearing sulphides in EBD2W4 throughout the reported intervals. The company is preparing all mineralised intercepts for assay and will release results to market as quickly as possible.
“The results from EBD2W4 represent our thickest intercept to date with a total of 83m of copper-bearing sulphides logged in this hole. This is particularly encouraging, not only because of the sheer thickness of the intercept but also as it occurs towards the eastern side of previous drilling, materially extending the zone of interest across the south-east of the deposit,” Coda’s CEO, Chris Stevens, said.
“We now have a clear trend of increasing thickness and intensity of copper-bearing sulphide mineralisation logged towards the centre and south-east of the gravity anomaly. As noted in our announcement on 6 December, we are now following that trend and stepping out drilling with increasing distances.
“IOCG exploration can be challenging, often with long lead times to drill holes exacerbated by long assay turnaround timeframes. However, our systematic approach to exploring the Emmie Bluff Deeps IOCG prospect is continuing to pay dividends. We now have an unbroken run of 10 mineralised holes, and we are confident that we are undertaking high-impact exploration in the right place at the right time. With assays from the October holes pending and a Maiden Mineral Resource Estimate for the Emmie Bluff Copper Cobalt Deposit also expected prior to Christmas, we are expecting a strong end to what has already been an exceptional year at Elizabeth Creek.”
For further information please visit: https://www.codaminerals.com/
