Cohiba Minerals (ASX:CHK) has returned ‘significant’ copper-gold-silver intersections following diamond drilling (DD) activities at the Horse Well Prospect, as part of its Olympic Domain Project in South Australia.
The results, generated by diamond hole HWDD07, have returned the presence of low level copper, gold, and silver mineralisation within the upper and lower Bluebush Fault, demonstrating that the Bluebush Fault dips about 60-70 degrees to the west.
The company adds that hole HWDD07 confirms that the Bluebush Fault is a mineralised structure that required further investigation, and leads to the belief that it extends for a further 2-4 kilometres in strike length, with potential mineralisation being present anywhere along the line.
Key assays returned from this hole include 14m @ 0.19% Cu, 0.21 parts per million (ppm) Au, and 2.16ppm Ag from 1,147-1,161m, including 1.1m @ 2.72% Cu, 0.54ppm Au, and 4.51ppm Ag from 1,375-1,376.1m.
Drilling was conducted to target the south extension of the Bluebush Fault, which was previously identified following previous drilling, in order to gain more confidence in the exact orientation of the fault and test the strike extension to the south in a region of magnetic low.
Speaking on the results, Cohiba Chief Executive Officer (CEO) Andrew Graham says: “The Horse Well Prospect remains a key IOCG target area within the Gawler Craton and we are committed to investigating it to the fullest extent possible. The Bluebush Fault is a significant dilational structure which coupled to the major NW-SE structural corridor and pervasive low-level copper mineralisation in multiple holes provides ample justification for ongoing exploration.
“The Bluebush Fault is a significant dilational structure which coupled to the major NW-SE structural corridor and pervasive low-level copper mineralisation in multiple holes provides ample justification for ongoing exploration”
The separate target zone around HWDD08 also confirms that this area is highly prospective for IOCG mineralisation. Cohiba is continuing to apply in-depth technical assessment on every drill hole with the aim of narrowing its search area and maximising its likelihood for exploration success.”
The company also notes a remobilisation and enrichment of silver and gold within a paleo-weathering zone over 300m strike length represents a positive indication of substantive mineralisation in the region, and is analogous to a ‘very strong’ soil anomaly at surface.
In addition, the ‘significantly’ elevated levels of copper, gold and silver identified throughout the drillhole also indicate the existence of a wider basement geochemical anomaly, and further extends the interpreted anomalous strike length to 500m.
Cohiba Minerals is an ASX-listed company focused on investing in the resource sector through direct tenement acquisition, joint ventures (JVs), farm-in arrangements, and new project generation. The company’s Olympic Domain project is located in South Australia’s Gawler Craton, and comprises 8 exploration licences that cover a total land holding of 831km-square, with Cohiba owning 80% of all associated tenements through a farm-in agreement.
Other assets included in the company’s portfolio include the Pyramid Lake Project in Western Australia, and the Wee Macgregor Project in Queensland.
Images: Cohiba Minerals Ltd
