Cohiba Minerals (ASX:CHK) is continuing to target Iron Ore Copper Gold (IOCG) and associated mineralisation styles at its Horse Well Fault Prospect in South Australia.
The company believes the broad elevated geochemistry encountered to date is consistent with ‘substantial’ mineralisation in the area.
Additionally, at the Horse Well Fault, which is part of the company’s Olympic Domain tenement package, inferred sub-parallel faults and cross-cutting structures present as sites for potential IOCG mineralisation and will be subject to ongoing investigation.
This announcement comes after Cohiba received additional assay results from the Horse Well Fault prospect.
Drillhole HWDD08 returned results including 1.5m @ 0.32% Cu, 0.18 parts per million (ppm) gold, and 2.99ppm silver from 1,162m; 1.4m @ 0.28% Cu from 1,256m; and 1m @ 0.12% Cu from 1,391m.
Commenting on the results and exploration activities, Cohiba Minerals Chief Executive Officer (CEO) Andrew Graham says: “The Horse Well Fault Prospect remains a key exploration target zone as supported by the persistent low-level copper, gold, and silver mineralisation in drillhole HWDD08.
“We remain steadfastly of the view that the Horse Well Fault prospect is an IOCG target area worthy of thorough investigation”
This is only the second hole drilled in the region since Western Minings HWD1 hole was drilled in 1982, and as such, significant work is being undertaken to assess every component of the drilling to determine the next site.
We remain steadfastly of the view that the Horse Well Fault prospect is an IOCG target area worthy of thorough investigation, and it remains on our agenda as a priority target.”
Cohiba Minerals is an ASX-listed company with a primary focus on investing in the resource sector through direct tenement acquisitions, joint ventures, farm-in arrangements, and new project generation.
The company’s projects are located in South Australia, Western Australia, and Queensland, with a key focus on its Olympic Domain tenements in South Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Cohiba Minerals Ltd
