Cohiba Minerals returns ‘significant’ assays from Horse Well Fault prospect in South Australia

Cohiba Minerals (ASX:CHK) has returned ‘significant’ assays from a diamond drilling (DD) program at the Horse Well Fault prospect in South Australia.

The results, generated by drillhole HWDD08, demonstrate elevated levels of copper (Cu), gold (Au), and silver (Ag) mineralisation, and support the belief that an iron ore copper-gold (IOCG) system could potentially exist at the prospect.

Cohiba says drillhole HWDD08 has contributed strongly to the understanding of this location, intersecting basement rocks of diorites and gneiss’ which are dissected by the ‘large-scale’ east-northeast and west-southwest striking Horse Well Fault, and into a down-faulted block of the Wallaroo Group sediments.

Key intercepts include HWDD08 with 111.6m @ 0.27% Cu, 0.05 parts per million (ppm) Au, and 0.35ppm Ag from 1043.2 to 1154.8m including 0.65m @ 2.52% Cu, 0.40ppm Au and 1.51ppm Ag from 1107.35-1108m.

Drilling was conducted to follow-up on low level but persistent copper mineralisation encountered within Gawler Range Volcanics (GRV) within the historic Western Mining Corporation drillhole HWD1, which was completed in June 1982.

Speaking on the results, Cohiba Minerals Chief Executive Officer (CEO) Andrew Graham says: “The Horse Well Prospect has delivered two key exploration target zones; the central eastern area where the Bluebush Fault has been traced in multiple holes and the central northern area where the Horse Well Fault has been identified.

Persistent low-level copper, gold and silver mineralisation in drill hole HWDD08, which is the only second hole drilled in the region since 1982, has confirmed that the Horse Well Fault Prospect is an IOCG target area worthy of thorough investigation.

“Persistent low-level copper, gold and silver mineralisation in drill hole HWDD08, which is the only second hole drilled in the region since 1982, has confirmed that the Horse Well Fault Prospect is an IOCG target area worthy of thorough investigation”

A thorough review of the Western Mining’s HWD1 hole drilled in 1982, coupled to the company’s own technical assessment of the geophysics and geology led us to prioritise this area as a standalone IOCG target.”

The company also notes these results confirm that the Horse Well Fault area is a high value target, and that the broad elevated geochemistry is ‘highly encouraging’ and consistent with ‘substantial’ mineralisation seen within the Bluebush Fault prospect, opening up potential for further exploration.

Adding on, Cohiba reports potential mineralisation could occur along the Horse Well Fault, along inferred faults parallel to this, or in structures intersecting or oblique to the Horse Well Fault.

With these results now in hand, Cohiba Minerals announces a further 356 assay results for the remainder of HWDD08 are yet to be received.

Cohiba Minerals is an ASX-listed mining company focused on direct tenements acquisition, joint ventures (JVs), farm-in arrangements, and new project generation in order to invest in the resource sector. The company currently has 3 exploration projects within its arsenal scattered across Australia, which include the Wee Macgregor Project in Queensland, the Pyramid Lake Project in Western Australia, and the Olympic Domain tenements in South Australia.

Images: Cohiba Minerals Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.