Cohiba Minerals (ASX:CHK) reports drillhole HWDD06 and HWDD06W1 targeting magnetic and gravity anomalies have been completed at the Horse Well prospect part of its Olympic Domain Project located in South Australia.
Cohiba says the gain in geological understanding from HWDD06W1 and HWDD03 can now be used to refine the geophysical model in the search for unexplained anomalies that may be indicators for Iron Oxide-Copper-Gold (IOCG) style mineralisation.
The company reports HWDD06 was targeting a coincident magnetic and gravity anomaly 5km west of BHP’s (ASX:BHP) Oak Dam deposit, and Cohiba had previously tested the magnetic portion of this anomaly with drillhole HWDD03.
This hole intersected some strongly altered quartz-earthy hematite-K-feldspar-epidote-chlorite-muscovite rock which left open the potential for a ‘near-miss’ of an IOCG system, and as a result the company designed HWDD06 to test the gravity portion of the anomaly.
Cohiba says HWDD06W1 intersected mafic intrusions, Donington Granite, and a pre-Donington gneiss, which are the host rock to BHP’s Oak Dam and Oz Minerals’ (ASX:OZL) Carrapateena IOCG deposits.
Both drillholes were completed in July and HWDD06 had to be abandoned as the hole reached basement due to drilling conditions, but was successfully completed via wedge hole HWDD06W1.
Cohiba Minerals CEO Andrew Graham said the Horse Well Prospect represents a key IOCG target zone within the Gawler Craton, and the company is committed to investigating it to the fullest extent possible.
“HWDD06 is considered to have great potential and was earmarked for investigation following encouraging results from HWDD03, HWDD04, HWDD05 and HWDD05W1.
“Given the considerable target depth, we have ensured that all technical information at our disposal has been scrutinised in detail to maximise our potential for exploration success”
Given the considerable target depth, we have ensured that all technical information at our disposal has been scrutinised in detail to maximise our potential for exploration success.”
The company states alteration in HWDD06W1 is consistent with distal IOCG alteration, but not a ‘near-miss’ scenario, and a northwest-southeast mafic intrusive body intersected in the bottom of the hole potentially represents a major fault which Cohiba speculates the prospective area lies north of the fault.
Cohiba reports the gain in geological understanding from HWDD06W1 and HWDD03 can be used to refine the geophysical model in the search for unexplained anomalies that may be indicators for IOCG style mineralisation and drill core samples have been submitted to ALS Laboratories for analysis.
Cohiba is an Australian minerals exploration company focused on investing in the resource sector through tenement acquisitions, joint ventures, farm-in arrangements and new project generation.
Its projects include the Olympic Domain Copper-Gold Project in South Australia, the Pyramid Lake Gypsum Project in Western Australia and the Wee Macgregor Copper Project in Queensland.
Images: Cohiba Minerals Ltd
