Coda Minerals Limited (ASX: COD) and partner Torrens Mining Limited (ASX: TRN) have announced that drilling has confirmed “high grade” IOCG-style copper-gold mineralisation at the Emmie Bluff Deeps within their Elizabeth Creek Project.
Key results from DD21EB0018 wedge holes include:
- Wedge 1: 17.1m @ 1.2% Cu, 0.3 g/t Au, and 1.3g/t Ag from 824m
- Wedge 2 Upper: 24.0m @ 2.2% Cu, 0.3 g/t Au, and 8.9g/t Ag from 815m; including:
- 3.0m @ 4.2% Cu, 0.3 g/t Au, 10.5 g/t Ag from 830m
- Wedge 2 Lower: 12.9m @ 3.5% Cu, 0.6 g/t Au, 25.4 g/t Ag from 902m; including:
- 3.2m @ 4.9% Cu, 1.3 g/t Au, 41.8 g/t Ag from 905m and
- 2.9m @ 4.8% Cu, 0.3 g/t Au, 33.8 g/t Ag from 911m
DD21EB0018 was the first hole drilled to test the Emmie Bluff Deeps IOCG target. The companies report that the grading of copper / gold intercepts encountered in the wedge holes, including a bornite-rich zone, are indicative of a high grade proximal mineralising structure.
Diamond drill core displaying purple blebby bornite sulphide mineralisation in wedge hole DD21EB0018W2 (from 824.64m)Elizabeth Creek Project
The 739 km² Elizabeth Creek Project is situated within the high-profile Olympic Dam Copper Province, ~35km south-east of Woomera in South Australia.
The project is operated by Coda, who holds a 70% interest, with partner Torrens Mining holding the 30% balance. It sits within 100km of BHP’s Olympic Dam copper-gold-uranium mine, and 50km from OZ Minerals’ Carrapateena copper-gold project.
The region is well-serviced by existing infrastructure, including the Stuart Highway, electrical grid, and scheme water.
“Multiple drilling rigs are operating at Emmie Bluff Deeps, with two new surface drill-holes in progress and already well advanced”
Management comments
Coda Minerals CEO Chris Stevens said: “These exceptional results further refine and de-risk our exploration program. Building on the previously released assays from our first diamond hole, they give us further encouragement that we are closing-in on a large-scale IOCG deposit at Emmie Bluff Deeps. Wedge 2, in particular, is significantly more intensely mineralised than the parent hole, validating our exploration model. These are also the best-ever assays received from the Emmie Bluff IOCG prospect over many years of drilling by previous explorers.
Multiple drilling rigs are operating at Emmie Bluff Deeps, with two new surface drill-holes in progress and already well advanced, we anticipate further news flow over the next two to three weeks.”
Images: Coda Minerals Limited
