Cohiba Minerals (ASX: CHK) has delivered a progress update on key follow-up hole HWDD05 at its Horse Well tenements in South Australia, with contractor Titeline Drilling reaching 797.5m (80.8° Dip and 54.9° Azimuth) as it seeks to confirm the presence of an iron oxide copper-gold (IOCG) system.
Horse Well is situated directly adjacent to BHP’s Oak Dam West project, which was the location of a substantial discovery in 2017 that delivered 425.7 m @ 3.04% Cu, 0.59 g/t Au, 346 ppm U & 6.03 g/t Ag; including 180 m @ 6.07% Cu, 0.92 g/t Au, 401 ppm U & 12.77 g/t Ag.
Drill targets at the tenements have been formulated from gravity, magnetics and magnetotellurics work, which confirmed the presence of a major feeder systen, believed to be associated with IOCG mineralisation.
HWDD05 drill core displaying typical Pandurra Formation from from 795mGovernment regulatory paperwork has already been completed for an additional 12 deep drill holes at Horse Well, and a heritage survey request has been submitted to local traditional owners the Kokatha People.
Following completion of HWDD05, Cohiba will begin long-awaited work at the Pernatty C tenement, with drilling set to test for a deeper IOCG target, along with Zambian Copperbelt-style mineralisation. The tenement sits 10km from the Mt Gunson copper-cobalt-silver resource, which was responsible for strong historical production including 150 Kt Cu (avg. grade 2.44%) plus 2.1 Moz Ag.
Cohiba reports that ‘significant’ copper has been intercepted from prior drilling in the Pernatty C, with exploration targeted at shallow, sedimentary-hosted copper.
Images: Cohiba Minerals Ltd
