Cohiba Minerals (ASX:CHK) reports that recent drilling at the company’s Horse Well prospect continues to point to iron oxide-copper-gold (IOCG) potential.
The company reports Horse Well drillhole HWDD08 followed-up Western Mining’s greenfields exploration hole (HWD1) and has ‘significantly’ expanded the copper anomaly and confirmed the Horse Well Fault as a high-value target.
Cohiba says the Horse Well Fault is interpreted to have caused the brecciation and been formed at the same time as copper mineralisation, making it a prime target for further IOCG exploration.
HWDD08 intersected the newly discovered major Horse Well Fault with an offset of over 600m where Cohiba encountered copper mineralisation (chalcopyrite) and varying degrees of brecciation in all basement rock units and the base of cover.
HWDD08 also encountered strong copper mineralisation (bornite) at the base of the paleo weathering zone.
Cohiba Minerals is now awaiting assay results from the lab which are expected early in the March 2023 quarter.
Commenting on the results, Cohiba’s CEO, Andrew Graham says: “The Horse Well Prospect continues to provide significant encouragement that we are exploring in exactly the right locations. With persistent low-level copper mineralisation, the presence of beneficial structural controls and evidence of desired fluid chemistry and mixing we are convinced that the Horse Well Prospect is a major IOCG target zone.
“The Horse Well Prospect continues to provide significant encouragement that we are exploring in exactly the right locations”
We remain committed to investigating it to the fullest extent possible and applying the best technical rigour to maximise the likelihood of exploration success.”
Cohiba Minerals’ primary focus is investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The company has projects located in South Australia, Western Australia and Queensland with a key focus on its Olympic Domain tenements located in South Australia.
Write to Adam Orlando at Mining.com.au
Images: Cohiba Minerals Ltd
