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.
Government 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