Coda Minerals (ASX:COD) reports its recently completed Ambient Noise Tomography (ANT) survey data has uncovered ‘significant’ new exploration opportunities at the Emmie Bluff and Emmie IOCG deposits, within the Elizabeth Creek Copper Project in South Australia.
The company reports the data revealed a ‘large-scale’, north-south trending structure, which appears to control both the copper-gold mineralisation at Emmie IOCG and the deposition of the shallower, shale-hosted copper-cobalt mineralisation at Emmie Bluff.
Additionally, Coda states the data highlights an ‘exciting’ new avenue to pursue a Tier-1 IOCG discovery at Elizabeth Creek, demonstrating that the IOCG mineralisation drilled to date occurs in proximity to a previously unrecognised northeast/southwest trending fault and appears to remain open to the north and particularly to the south.
Coda reports further exploration for additional sediment-hosted copper-cobalt will initially focus on the southern and eastern anomalies, with a focus on coincident ANT and seismic or MT anomalism.
Additionally, the company has recently completed a tight-spaced gravity survey over the Emmie Bluff and IOCG prospects and will soon start a geologically constrained 3D inversion of the results, paired with the ANT data.
The resultant model will precisely delineate ‘major’ geological units, which allows for ‘exceptionally’ detailed IOCG drill targeting.
Hole planning for the next round of drilling at Emmie IOCG will begin following the receipt of the model. The company says this is anticipated to begin in Q2 2023.
Additionally, the company is currently preparing to begin its Prefeasibility Study (PFS) into the Elizabeth Creek Project and will conduct a geotechnical and metallurgical drill program at Emmie IOCG.
Coda is currently finalising plans to broaden that drill program in order to test the newly discovered targets.
“Through the ANT data, we have materially improved our understanding of the mineralising system controlling the copper-cobalt at our flagship Emmie Bluff deposit”
Commenting on the new discovery, Coda Minerals Chief Executive Officer (CEO), Chris Stevens says: “Through the ANT data, we have materially improved our understanding of the mineralising system controlling the copper-cobalt at our flagship Emmie Bluff deposit.
This new information helps us to explain the relationship between Emmie Bluff and the deeper IOCG copper-gold mineralisation beneath it. We now have new targets, backed by strong geophysical evidence, to test for extensions of the shallower copper-cobalt mineralisation.
At Emmie IOCG, the survey has helped our understanding of why we have so far only intersected high-grade, but small-scale conduits. The data appears to define a new structure to target where larger-scale mineralisation may have dropped out into a full-scale IOCG.
We are very pleased with the results of this recent work, which has given us exciting new target areas based on a materially improved understanding of the structural relationships that control our major deposits.”
The ANT survey program was conducted in January 2023 and consisted of 3 surveys which covered the broader Emmie System, including the basement-hosted IOCG deposit, the shale-hosted Emmie Bluff deposit, and 1 survey at the Elaine Prospect.
Coda Minerals is an exploration company, focused on the discovery and development of minerals that are leveraged to the global energy transformation through electrification and the adoption of renewable energy technologies.
The company’s flagship Elizabeth Creek Copper-Cobalt Project is located in the Olympic Copper Province in South Australia.
Images: Coda Minerals Ltd
