Mineral exploration company, Coda Minerals has delivered more cracking copper hits at its exciting Emmie Bluff Deeps IOCG-style copper discovery in South Australia. New intercepts from one hole, 3W2, returned two mineralised intervals of 26.9 metres grading 1.95 per cent copper from 803.5m and 41.8m going 1.21 per cent copper from 911.5m to grow the high-grade bornite zone at the prospect.
Another hole struck 18.5m at 1.01 per cent copper from 889.8m.
A 13.3m intercept grading 1.00 per cent copper from 906.7m was also returned from the latest drilling at the discovery.
Coda lit up the market earlier this year when a maiden hole into a targeted gravity anomaly at Emmie Bluff Deeps hit 28m at 1.21 per cent copper to propel the company’s share price from about $0.35 in June to more than $1.70 in the same month.
A 13m strike going 3.46 per cent copper from 902m was also returned from drilling at that time.
The latest results come on the back of four subsequent diamond holes drilled at the discovery in October. Additional assays from less prospective parts of the holes are due soon.
Coda has so far defined a mineralised envelope at Emmie Bluff Deeps consisting of a higher grade bornite-rich core within an overall laterally extensive chalcopyrite halo.
According to the company, hole 3W2 returned grades going as high 9.48 per cent copper to support its exploration model where extensions of the high-grade bornite core are being targeted.
The rods continue to turn at the discovery with hole EBD4 currently testing for potential extensions of the bornite zone by about 250m. Hole EBD5 is also presently being drilled as Coda looks to keep growing the existing mineralised envelope.
Coda Minerals Chief Executive Officer, Chris Stevens said:“Hole 3W2 is our best assayed drill intercept at Emmie Bluff Deeps to date. The aggregate result of 68 metres of high-grade copper-gold mineralisation comprising two intervals of 26m at 1.95% Cu and 42m at 1.2% Cu confirm previously released visual results and highlight the presence of a high-grade bornite zone within the deposit.
Based on recent visual intercepts, we expect that drillhole 3W3B, currently pending assay results, will return a similarly positive and potentially thicker intercept of bornite in the higher-grade upper lode, confirming the increasing trend of thickness within this high-grade zone towards the south-east.”
Coda has recently been reporting its visual interpretation of drill core from holes for which assay results are pending, including hole 3W3B where 45m of bornite dominated mineralisation was identified.
Another recent hole, EBD2W4, returned the thickest copper interval so far recorded at Emmie Bluff Deeps with 83m of chalcopyrite dominated mineralisation intercepted from 861m.
The company believes Emmie Bluff Deeps hosts potential for an “enormous” increase in lateral extent.
Emmie Bluff Deeps is located at Coda’s 70 per cent owned Elizabeth Creek project where three separate JORC compliant copper resources have already been defined.
Earlier this week Coda delivered a maiden mineral resource estimate for its Emmie Bluff copper-cobalt deposit, located about 400m from Emmie Bluff Deeps in the northern part of its Elizabeth Creek tenure.
The new resource at Emmie Bluff clocked in at a cracking 43 million tonnes going 1.3 per cent copper, 470 parts per million cobalt and 11 gram per tonne silver.
It adds to two other JORC compliant resources at the Windabout and MG14 deposits in the southern part of Coda’s landholding.
At Windabout, 17.67 million tonnes going 0.77 per cent copper, 0.05 per cent cobalt and 8.0 g/t silver has been defined. Another 1.83 million tonnes at 1.24 per cent copper, 0.03 per cent cobalt and 14 g/t silver has also been delineated at MG14.
The three deposits combine for an eye-catching 1.1 million tonnes of contained copper equivalent.
Coda already has already defined plenty of copper at Elizabeth Creek and if the high quality mineralised strikes from Emmie Bluff Deeps keep rolling in, the Perth-based explorer could find itself with loads more.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
