- Coda Minerals (COD) and joint venture partner Torrens Mining (TRN) release a maiden mineral resource estimate for the Emmie Bluff copper-cobalt deposit in South Australia
- The mineral resources reads 43 million tonnes at 1.3 per cent copper, 470 parts per million cobalt, 0.15 per cent zinc and 31g/t silver
- Coda now expects to complete all fieldwork required to advance Emmie Bluff through scoping and early feasibility studies
- Additionally, further drilling is planned to extend the mineral resource and improve confidence
- Shares in Coda are down 3.59 per cent on the market and are trading at 94 cents
Coda Minerals (COD) and joint venture partner Torrens Mining (TRN) have released a maiden mineral resource estimate for the Emmie Bluff copper-cobalt deposit.
Emmie Bluff is part of the Elizabeth Creek Copper Project, which lies in South Australia’s Olympic iron-oxide copper-gold (IOCG) province.
The combined indicated and inferred mineral resource reads 43 million tonnes at 1.3 per cent copper, 470 parts per million (ppm) cobalt, 0.15 per cent zinc and 31 grams per tonne (g/t) silver.
Of this, 39 million tonnes is classified in the indicated category with the remainder in the inferred category.
CEO Chris Stevens is pleased with the release of the mineral resource estimate.
“The maiden JORC 2012 mineral resource unveiled today demonstrates the sheer scale of Emmie Bluff in terms of contained copper and cobalt tonnages and the size and quality of the Mineral Resource highlights its clear potential as a near-term development opportunity for the Company,” Mr Stevens said.
“With a combined tonnage across the three deposits of approximately 1.1 million tonnes of contained copper equivalent, the Elizabeth Creek joint venture now has a substantial copper and cobalt inventory.”
Coda has a land access and native title agreement in place and expects to wrap up an ongoing Exploration Program for Environment and Protection and Rehabilitation arrangement with the South Australian Government.
These will allow Coda to complete all fieldwork required to advance Emmie Bluff through scoping and early feasibility studies.
Additionally, further drilling is planned to extend the mineral resource and improve confidence.
Finally, Coda will undertake an airborne magnetotelluric survey at the Emmie Bluff and Emmie Bluff Deeps prospects to confirm a low-resistivity anomalism.
Shares in Coda were down 3.59 per cent on the market and were trading at 94 cents at 1:38 pm AEDT.