Coda Minerals Validates IOCG Mineralisation at Emmie Bluff Deeps

THE DRILL SERGEANT: Coda Minerals (ASX: COD) reported assays from the first hole at Emmie Bluff Deeps IOCG target within the company’s Elizabeth Creek Joint Venture project in South Australia with Torrens Mining Limited (ASX: TRN).

Coda received assays from the first drill-hole in its deep IOCG drill program at Emmie Bluff Deeps that have confirmed IOCG-style copper-gold mineralisation at Emmie Bluff Deeps, with multiple zones intersected.

Results include:


4.69m at 1.01 per cent copper, 0.17 grams per tonne gold and 3.6g/t silver from 797.45m down-hole;
28.14m at 1.21 per cent copper, 0.37g/t gold and 2.3g/t silver from 810.79m down-hole, including 4.83m at 2.16 per cent copper, 0.63g/t gold and 4.3g/t silver from 816.8m; and
2.57m at 2.11 per cent copper, 0.30g/t gold and 13.2g/t silver from 842.03m down-hole, including 1.45m at 3.44 per cent copper, 0.42g/t gold and 22.1g/t silver from 842.77m.

“These results provide the first quantitative evidence of IOCG copper-gold mineralisation at Emmie Bluff Deeps,” Coda Minerals CEO Chris Stevens said in the company’s ASX announcement.

“These assays are consistent with what we would expect from chalcopyrite zones within a broader IOCG system.

“They also represent the best intersections yet known from the Emmie Bluff Deeps prospect, including across many years of exploration by earlier companies.

“Together, they significantly increase our confidence in the project and further de-risk the potential opportunity from Emmie Bluff Deeps.

“In terms of grade and thickness, the assays have come in well within the range that we were expecting based on our visual observations.

“The chalcocite and bornite zones have yielded strong grades, and we expect to see more of this sort of higher-grade mineralisation in the wedge holes to the east.

“Together with visual observations of the recently drilled wedge holes, this represents further validation of our exploration model and our interpretation of the local geology.

“Our interpretation suggests that this hole was drilled immediately to the west of a major mineralising structure and has most likely intersected a broad and relatively flat-lying ‘apron’ of mineralisation which surrounds it.

“An accelerated and aggressive exploration program is underway, focused on the area of highest prospectivity to the east and north-east of DD21EB0018 and, all going well, will confirm our hypothesis with results expected in the weeks ahead.”