- Coda Minerals (COD) gears up for the first round of drilling at the Cameron River project in North Queensland
- Following six months of exploration work, the company has delineated a number of geochemical and induced polarisation targets to be tested with shallow drilling
- With all environmental approvals received, the 30-hole reverse circulation drill campaign is scheduled to begin on August 23
- Drilling and earthworks contractors have been secured and given the style of drilling, COD expects to receive the first results by September
- Shares last traded at 36.5 cents on August 5
Coda Minerals (COD) is gearing up for the first round of drilling at the Cameron River project in North Queensland.
In March last year, COD entered in to a binding farm-in and joint venture agreement giving it the right to acquire up to an 80 per cent ownership in the project.
Now, the company has received all required environmental approvals to kick off a 30-hole reverse circulation drilling campaign on August 23.
According to Coda, the project comprises around 35 square kilometres of prospective copper and gold exploration tenure.
The team completed exploration using targeted geophysics, geochemical sampling and litho-structural mapping to delineate prospective geochemical and induced polarisation targets.
CEO Chris Stevens said following six months of hard work, the company is “thrilled” to have received the final approvals to begin drilling a number of “exciting” targets.
Commenting on the shallow drilling program, Mr Stevens said this style of drilling typically lends itself to rapid results and is highly amenable to initial sampling using portable XRF technology.
Drilling and earthworks contractors have been secured and the company expects to receive the first lot of results by September.
At the same time, Coda Minerals is progressing exploration and scoping work at its flagship asset, the Elizabeth Creek copper project in South Australia.
The company has engaged Fleet Space to undertake a pivotal real-time seismic survey, which it believes will help unlock the full potential of the Emmie iron-oxide-copper-gold discovery.
Shares last traded at 36.5 cents on August 5.