- Cohiba Minerals (CHK) completes the latest drill hole at its Horse Well project in South Australia, with the drilling of a subsequent wedge hole now underway
- The company says the drill core from the initial hole has been sent off for analysis, but a visual analysis of the core showed showed “encouraging” stratigraphy and mineralogy
- Cohiba CEO Andrew Graham says the company is focussing on the eastern part of the Horse Well project as a key iron oxide copper-gold (IOGC) exploration area
- Looking ahead, Cohiba plans to begin drilling at the nearby Pernatty C zone in the Olympic Domain tenement as soon as the Horse Well wedge hole is complete
- Shares in Cohiba Minerals are trading grey at 1.9 cents each at 10:57 am AEDT
Junior explorer Cohiba Minerals (CHK) has completed the latest drill hole at its Horse Well project in South Australia, with the drilling of a subsequent wedge hole now underway.
The company said the latest hole, dubbed HWDD05, was officially completed on September 29 after being drilled to a vertical depth of roughly 1399 metres.
Cohiba has sent the drill core off to Adelaide for analysis and detailed logging but said a visual analysis of the core showed “encouraging” stratigraphy and mineralogy.
As such, based on its visual analysis of the drill core, Cohiba made the call to drill a wedge hole off the initial hole to further investigate the mineralisation in the Horse Well area.
As of the start of this week, the wedge hole was at a vertical depth of roughly 990 metres.
Horse Well forms part of Cohiba’s Olympic Domain tenement holding and is prospective for iron oxide copper-gold (IOCG) mineralisation.
CEO Andrew Graham said the company was focussing on the eastern part of the project as a key IOCG exploration area.
“The company’s subject matter experts have continued to provide exceptional technical feedback to inform ongoing exploration decisions including the decision to undertake the wedge hole off HWDD05,” Mr Graham said.
“Ongoing petrological and mineralogical work will continue to provide significant insights for enhanced exploration decision making.”
Looking ahead, Cohiba plans to begin drilling at the nearby Pernatty C zone in the Olympic Domain tenement as soon as the HWDD05 wedge hole is completed.
Cohiba will drill two holes at Pernatty C: one to roughly 900 metres, with the depth of the second to be determined based on observations made during the drilling process.
Meanwhile, Cohiba said it had almost completed necessary environmental program for environment protection and rehabilitation (EPEPR) documentation for the Warriner Creek zone, which means it will be able to drill test two shallow IOCG targets in this area.
As for Cohiba’s tenement holdings, the company today said it had successfully renewed each of its Lake Torrens tenements and applied to renewed the exploration licence home to Horse Well and Pernatty C for another five-year term.
Shares in Cohiba Minerals were trading grey at 1.9 cents each at 10:57 am AEDT.