- Cohiba Minerals (CHK) receives encouraging assays from an exploration wedge drill hole at its Horse well project in South Australia
- The company the drill results confirm persistence of mineralisation
- The longest intersection was 70 metres at 0.3 per cent copper, 0.36 g/t gold and 1.84 g/t silver from 962 metres
- CEO Andrew Graham says Cohiba’s ongoing focus on petrology, mineralogy, alteration styles and structures will optimise its potential for future exploration success at Horse Well
- CHK shares steady at 1.5 cents
Cohiba Minerals (CHK) has received further encouraging assay results from deep diamond drilling at its Horse well copper-gold project on the eastern margin of the Gawler Craton in South Australia.
The company said its “wedge” drill hole, HWDD05W1, encountered a combined length of 200.75 metres of mineralised core containing some high-grade copper, gold and silver values.
The longest intersection was 70 metres grading 0.3 per cent copper, 0.36 grams per tonne gold and 1.84 g/t silver from 962 metres.
Cohiba said the hole returned a peak copper grade of up to 5.07 per cent copper, 3.5 g/t of gold and 14.5 g/t silver.
HWDD05W1, an angled or curved hole drilled from the company’s previous diamond hole HWDD05, commenced at a depth of 747.10 metres for a total hole length of 1,335.7 metres.
As with HWDD05, the wedge hole reveals mineralisation, brecciation and alteration styles in some of the mafic units that are typical of an iron oxide copper gold (IOCG) deposit, according to Cohiba.
“With our ongoing focus on the petrology, mineralogy, alteration styles and structures, which are critically important to understanding IOCG deposits, we will optimise our potential for exploration success in the Horse well area,” CEO Andrew Graham said said.
CHK shares were steady at 1.5 cents at 11:10 am AEDT.