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Coda Aim at Emmie IOCG

5 April 2023 10:28

After shoring up the Project’s copper-cobalt mining potential, Coda Minerals are now shifting its eyes towards Elizabeth Creeks IOCG promise, having finished up a major Gravity Survey over the Emmie prospect and the surrounding prospects to assist in the generation of IOCG drill targets.

The gravity took place over a 65 square kilometre area that encompasses the Emmie IOCG prospect, Emmie Bluff Mineral Resource and surrounding IOCG and sediment-hosted prospects, with over 3,600 gravity stations being collected across the area to a spacing of 125 metres.

The improved resolution provided by this survey when combined with current drill data and the results of the recent ANT survey conducted across the Project will allow the Company to generate a very detailed 3D model of the entire Emmie IOCG system which will be critical to the Project’s next drilling campaign.

On top of assisting in the upcoming IOCG drill campaign, the model will also provide the Company insights into potentially extending the Emmie Bluff Copper-Cobalt deposit which already has shown the potential to hit a per annum production rate of approximately 25,000tpa copper and 1,000tpa cobalt.

Covering 701 square kilometres of Australia’s most productive copper belt, Olympic Dam Copper, Elizabeth Creek has quickly risen to be one of the region’s most exciting junior projects, being located just 100km south of mining giant BHP Billiton’s Olympic Dam copper-gold-uranium mine and 50 km west of OZ Minerals’ Carrapateena Copper-Gold Project.

The Company said it remains focused on building its two key strategic pillars, advancing its copper-cobalt assets towards development and continuing to build on the exciting Emmie IOCG copper-gold mineralisation.

“We have continued to advance the IOCG exploration with these recently completed geophysical programmes. The interpretation and modelling efforts now underway will form the basis for the next round of IOCG exploration and give us the tools to precisely target the most prospective parts of the system,” Chief Executive Chris Stevens said.

“With only four major IOCGs on the Gawler Craton all in the hands of the majors and the requirement to explore deep undercover, I believe we have hit something very special in Emmie IOCG which has returned multiple intercepts over 2% and 3% copper.”

The Company has now detailed QA/QC and levelling underway at the Project with final results expected in six weeks, with further results from the recent Ant Survey expected in two weeks.

COD’s Australian Stock Exchange-listed share price has risen 0.94 per cent today, currently selling at 26.7c (9:57 am UTC+ 8 hours).

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