Join our daily newsletter At The Bell to receive exclusive market insights
- Coda Minerals (COD) has completed its phase two diamond drilling program at the Emmie Bluff copper prospect on time and on budget
- Under this phase two program, 17 holes were drilled to undertake exploration and mineral resource definition
- The diamond core is currently on route to Adelaide where it will be cut, and samples will be sent for assay with results expected in late April
- Additionally, a further six infill holes have been planned for the June quarter to support a maiden mineral resource estimate
- Coda has ended the day 4.65 per cent in the red with shares trading at 41 cents
Coda Minerals (COD) has completed its phase two diamond drilling program at the Emmie Bluff copper prospect on time and on budget.
Emmie Bluff is part of Coda’s Elizabeth Creek Copper Project, which lies in the eastern Gawler Craton of South Australia.
Under this phase two program, 17 holes were drilled to undertake exploration and mineral resource definition.
The diamond core is currently on route to Adelaide where it will be cut and samples will be sent for assay.
Subject to the laboratory processing time, results are expected in late April.
Additionally, a further six infill holes have been planned for the June quarter to support a maiden JORC 2012 mineral resource estimate.
“With a successful drill program at Emmie Bluff under our belts — and that prospect moving into an exciting new phase of resource definition — we’ve never been more enthusiastic about the opportunities for growth at Elizabeth Creek,” CEO Chris Stevens said.
“The next few months have the potential to be transformational for Coda as well drill our high-priority iron-oxide copper-gold (IOCG) and Zambian-style copper targets and advance Emmie Bluff rapidly towards a maiden JORC mineral resource,” he added.
Coda has ended the day 4.65 per cent in the red with shares trading at 41 cents in a $36.77 million market cap.
