20/05/2021 - 14:14

Coda fires up drill rigs in SA copper search

20/05/2021 - 14:14

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Coda Minerals has shifted exploration at the Elizabeth Creek copper project in South Australia into higher gear. A major drilling campaign is underway to convert an existing exploration target at the Emmie Bluff prospect, estimated at 46-77 million tonnes going at 0.5-2.3 per cent copper-equivalent, into a maiden resource. Priority regional targets are also to be tested.

Copper-cobalt drilling at Emmie Bluff. Credit: File

Coda Minerals has shifted its exploration efforts at the Elizabeth Creek copper project in South Australia into higher gear. A major drilling campaign has commenced looking to convert an existing exploration target at the Emmie Bluff prospect, estimated at 46-to-77 million tonnes at between 0.5-2.3 per cent copper-equivalent into a maiden resource. Priority regional targets are also to be tested.

Since listing on the ASX in October last year Coda has hardly paused for breath, recently completing a 17-hole diamond drilling program at Emmie Bluff.

The new drilling is part of a A$5.7 million 2021 program at 70%-owned Elizabeth Creek, where Coda and ASX-listed joint venture partner Torrens Mining have 739 square kilometres of prime real estate in an internationally recognised iron oxide copper gold, or IOCG province.

Emmie Bluff is within 20km of BHP’s exciting Oak Dam copper-gold discovery.

Elizabeth Creek is about 100km south of BHP’s giant Olympic Dam copper-gold-uranium-silver mine.

The recent diamond drilling at Emmie Bluff returned multiple stellar hits, with every hole reportedly encountering mineralisation across a 4.5km strike length.

Stand-out intercepts from the recent drilling included 3 metres going an eye-catching 2.85 per cent copper, 1,545 parts-per-million cobalt and 27 grams per tonne silver from 400m depth, and 2.24m at 1.82 per cent copper, 1,139 ppm cobalt and 24 g/t silver from 497m.

Another hole returned 2.13m at 2.08 per cent copper, 1,212 ppm cobalt and 28 g/t silver from 445m.

Elizabeth Creek JV operator Coda now has three rigs ready for a drilling blitz at Emmie Bluff and other priority targets.

The rods are already turning at Emmie Bluff Deeps where a 1,200m drill hole is testing an area of coincident high gravity anomalism and low magnetic anomalism said to be prospective for hosting a copper and haematite-rich IOCG style mineralised system.

Coda cites “geophysical consistencies” with OZ Minerals’ Prominent Hill, another Gawler Craton IOCG standout, in the signature being targeted at Emmie Bluff Deeps.

The company will drill 12 diamond holes for about 6000m to finish resource drilling at Emmie Bluff. The work is anticipated to take about two months, with results to start flowing early in July ahead of a maiden resource estimate going to the market in the September quarter.

Coda already has 280,000 tonnes of copper-equivalent resources in sedimentary deposits at Windabout and MG14 at Elizabeth Creek.

Key regional targets include Hannibal where up to six holes for 1,500m are due to be drilled into a magnetotelluric anomaly. The company believes Hannibal may reveal shallower Emmie Bluff-type mineralisation.

Further to the south up to 22 holes for about 1,200m are set to target the MG14 North prospect looking to follow-up on historical drill intercepts and potential extensions of existing resources totalling 1.83 million tonnes going 1.24 per cent copper, 0.03 per cent cobalt and 14 grams per tonne silver.

A further 14 holes are planned for the Powerline prospect targeting known mineralisation intercepted by historical drilling.

The Gawler Craton is one of Australia’s premier copper-gold production and discovery districts. With resources at Elizabeth Creek and plenty of strong exploration targets, Coda will keep the market tuned into what is a substantial drilling campaign in elephant copper country.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

 

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