Coda Minerals (ASX:COD) reports that it has received final assays following a phase one drilling operation at the Emmie IOCG prospect, as part of its Elizabeth Creek Project in South Australia.
The results, generated by over 23,000m of diamond drilling (DD), have identified the presence of three major conduits, including two geochemically and geologically distinct bornite zones.
The results also demonstrate the lateral continuity of the deposit, with classic IOCG sulphide zonation located beyond these zones and key results including:
- Hole EBD3W2: 42m @ 1.2% Cu and 27m @ 2.0% Cu for a total 69m of mineralisation
- Hole EBD18W2: 24m @ 2.2% Cu and 12.9m @ 3.5% Cu for a total of 36.9m of mineralisation
Commenting on the results, Coda Minerals CEO Chris Stevens, said: “Even among a group of deposits as eclectic as the Eastern Gawler IOCGs, Emmie IOCG stands out as something unique.
“even among a group of deposits as eclectic as the Eastern Gawler IOCGs, Emmie IOCG stands out as something unique”
While clearly a member of the Eastern Gawler family, it exhibits significant differences to the other IOCGs in the region – both the famous deposits that surround it such as Carrapateena, Olympic Dan and Oak Dam West, as well as some of the lesser-known deposits that have not yet progressed beyond exploration stage.”
Coda reports that although work to date is still at a very early stage, it is gaining an increasing understanding of the geology and structure of mineralisation at Emmie IOCG and remains strongly optimistic about its exploration potential.
The work that Coda has completed to date has demonstrated that a significant copper and gold system exists at Emmie IOCG that represents an outstanding exploration target, the company said.
All results so far suggest that Emmie IOCG was created by a near identical hydrothermal fluid as its more famous Eastern Gawler cousins, with the key difference seeming to be that it was emplaced at a lower pressure that was insufficient to fracture the rocks and create the hydrothermal breccias that are so typical of the better known Eastern Gawler deposits.
It is plausible that these pre-existing fractures acted like a local pressure release valve, allowing the fluid to flow before it built up excessive pressure, but the conduits discovered to date seem insufficient to explain the scale of the mineralised footprint.
Coda’s own drilling indicates the presence of a mineralised corridor of at least a kilometre long and half a kilometre wide, with historical drilling suggesting the mineralised system could potentially extend up to 3km from the discovery hole. This implies the presence of a much larger plumbing system, which we’re only just beginning to understand.
Although work to date is still at a very early stage, Coda is gaining an increasing understanding of the geology and structure of mineralisation at Emmie IOCG, and will remain ‘strongly optimistic’ about its exploration potential. The upcoming ANT survey will target new conduits and any associated mineralisation at Emmie IOCG, while also providing a fresh and detailed look at the numerous other geophysical targets in the immediate area.
Coda also notes that these results have ‘significantly’ enhanced the company’s understanding of the geological structure and controls on the mineralisation.
In addition, it is reported that Coda will initiate advanced geophysical surveys to follow-up on these results and to locate additional structures in order to provide further thickness and scale to the prospects geological model.
The Elizabeth Creek Project is located about 30km south-east of the township of Woomera in South Australia and lies within the Olympic Dam Copper Province with established access to electrical grid power and is accessed by established unsealed roads.
The project’s hosted Emmie Bluff deposit currently boasts a total JORC 2012 compliant Mineral Resource Estimate (MRE) of 43Mt tonnes @ 1.84% Cu-Eq, with 38Mt being in the Indicated category and 4.5Mt being in the Inferred category.
With the final assays from the recent phase one drill program returned, Coda Minerals announces it will move forward with plans to extend the bornite zone and associated mineralisation along strike at the three known major conduits.
Images: Coda Minerals Ltd
