- Cohiba Minerals’ (CHK) drill contractor, Titeline Drilling, has mobilised a rig to the Horse Well Project to commence drilling
- CHK will drill one deep hole at the South Australia-based project to follow up on mineralisation in a previously drilled hole
- Cohiba will also begin drilling two holes at the Pernatty C prospect next month to target a shallow conductivity anomaly trend and a magnetic anomaly target
- Company shares are up 8.82 per cent to trade at 1.9 cents at 1:18 pm AEST
Cohiba Minerals (CHK) has announced that drill contractor Titeline Drilling’s rig has arrived at the Horse Well Project to commence drilling.
The company is drilling an additional deep hole at the South Australia-based project to follow up on mineralisation in a previously-drilled hole.
This follow-up hole will be drilled in the same location as the original hole at a declination of 80° to basement and then progressively shallow to around 65° by 1200 metres, with a planned total hole length of around 1600 metres.
CEO Andrew Graham said he was pleased to have secured Titeline Drilling for this strategic hole.
“After several delays out of the company’s control we are pleased to have secured a quality drilling company in Titeline Drilling to undertake this strategic drill hole at Horse Well to further test the presence of mineralisation encountered in hole HWDD_04,” Mr Graham said.
Mr Graham also inked plans to start drilling at the Pernatty C prospect next month.
“In addition we will commence drilling at Pernatty C in early September with two angled holes that will target both a shallow conductivity anomaly trend identified from the induced polarisation survey and an iron oxide copper-gold magnetic target associated with a magnetic anomaly trend,” he said.
Additionally, Cohiba Minerals is completing a heritage survey to drill 12 deep holes at Horse Well.
Company shares were up 8.82 per cent to trade at 1.9 cents at 1:18 pm AEST.