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Coda Looks to Expand Emmie IOCG

12 January 2023 10:06
ASX: COD

Coda Minerals has taken its first steps towards uncovering the true extent of the Emmie Iron Ore-Copper-Gold discovery, having kicked off an extensive state-of-the-art Ambient Noise Tomography (ANT) survey over the Elizabeth Creek Project.

The ANT survey is designed to provide a highly detailed sub-surface map to assist in identifying structures that may host an extension of and/or thicker mineralised portions of the Emmie IOCG deposit.

This survey will allow the company to cover a wide area at a significantly lower cost than drilling would, allowing it to plan and refine the next stage of its exploration project at a relatively lower cost.

On top of finding extensions to the Emmie discovery, the cutting-edge survey is also designed to identify extensions of the Tapley Hill Fm Shale, which host the sedimentary copper-cobalt mineralisation at the neighbouring Emmie Bluff prospect.

This is the first of four planned surveys across Elizabeth Creek that will take approximately one month to complete with rapid data turnaround anticipated and preliminary data expected to be delivered before the surveys ends.

The Company said that the exploration of Emmie and Emmie Bluff demonstrates that it has discovered a vast copper-bearing system and it is excited to see what the next phase of exploration will uncover.

“Since the discovery of Emmie IOCG in June 2021 we have undertaken a large-scale drill campaign resulting in multiple high-grade intercepts at depth but, so far, the thickness and scale consistent with a world-class IOCG discovery have eluded us. This next phase of work is designed to give us a much better understanding, not only of what is happening at depth in and around the Emmie IOCG itself,” said Chief Executive Chris Stevens.

“The massive advantage of the ExoSphere system is that we are able to receive real-time images from the field and react quickly to the information. This allows us to add resolution to certain areas and to really start to build up a better understanding of what is happening at depth.”

Alongside the survey, Coda has maintained that the Emmie Bluff integrated study covering Coda’s three JORC-compliant mineral resources at the Elizabeth Creek Project is in its final stages and expected to be delivered by the end of the quarter.

COD’s Australian Stock Exchange-listed share price has risen 12.24 per cent today, currently selling at 27.5c (9:06 am UTC+ 8 hours).

 

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