Coda Minerals (ASX: COD) has confirmed multiple ‘significant’ mineralisation targets following recent IP surveys at its Cameron River Project near Mt Isa.
The company notes that the results include multiple ‘outstanding’ chargeability anomalies from within the project’s Rebound prospect.
In addition, a DDIP survey conducted near ‘highly anomalous’ surface sampling has returned a modelled chargeability anomaly peak of 48 msec, with the source thought to be less than 100m below surface.
Speaking on the results, Coda Minerals CEO Chris Stevens said: “We are extremely pleased by the quality of the data we received from the recent surveys, and excited by the potential it has revealed at Cameron River. In particular, the DDIP survey, which produced not only an extensive zone of anomalism, but also peaks of extraordinarily high intensity for the region.
“IP has been the key driver behind multiple recent major copper discoveries in the Mt Isa Region”
IP has been the key driver behind multiple recent major copper discoveries in the Mt Isa Region – this combined with high grade geochemical sampling at surface and field mapping strongly suggests the potential for an extensive, shallow copper-gold system.
Having now finalised this important step in the targeting work, we are looking forward to commencing our 30-hole maiden RC programme which is expected to commence in August this year subject to final phases of environmental approvals.”
The company also reports that Gradient Array IP results support the presence of a chargeability anomaly trend of approximately 1.2km in strike length, associated with the Rebound deposits’ geochemical anomalism.
In addition, a north trending high chargeability feature, known as the ‘Copper Weed Anomaly’, corresponds with both a magnetic high as well as the trend of the historic Copper Weed artisanal workings.
Cross section displaying DDIP chargeability inversion dataThe Cameron River Project is located in the highly prospective Mt Isa inlier in North Queensland, and covers 35km² footprint across two exploration tenements.
The project is situated near the old Mary Kathleen mine, and is well-served by infrastructure which provides easy access to major ports at Townsville.
Coda Minerals reports that it is in the process of securing environmental approvals for drilling while it awaits the expected commencement of RC drilling in August.
Images: Coda Minerals Limited
