Cohiba Minerals (ASX:CHK) is starting fieldwork activities across its Canadian lithium assets after signing individual scope of work documents for 4 prospects.
The scope of work documents are for Gathering Lake, Ragers Creek, Ottertail, and Big Rock prospects, and the fieldwork has a projected start date of 20 September 2023.
Dahrouge Consulting will be carrying out the project execution, with the field investigations aimed at determining lithium and rare earth element (REE) prospectivity in the area.
Cohiba, which has a $6.63 million market capitalisation, says Dahrouge will conduct logistics, geological sampling and mapping, and a field report.
The company’s share price closed trade on the ASX 16.67% higher today (12 September 2023).
Fieldwork activities are expected to be completed on the final prospect around 10 October 2023, with the final deliverables expected within 2 weeks following the receipt of assay results.
Commenting on the fieldwork, Cohiba Minerals Chief Executive Officer (CEO) Andrew Graham says: “We are pleased to announce that we have received and endorsed a scope of work document for each of the Gathering Lake, Rogers Creek, Ottertail, and Big Rock lithium prospects in Ontario, Canada.
Dahrouge Consulting will conduct the fieldwork, which will start on 20 September 2023 on the Gathering Lake prospect, followed by Rogers Creek, Ottertail, and Big Rock. We are looking forward to building on the desktop study with a systematic field investigation aimed at determining lithium and rare earth element prospectivity at each of these sites.”
Cohiba Minerals is an ASX-listed minerals exploration company with a primary focus on investing in the resource sector through direct tenement acquisition, joint ventures, farm-in arrangements and new project generation.
As of 30 June 2023, the company had $1.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Cohiba Minerals
