- Cohiba Minerals (CHK) reports “significant” zinc results in assay data returned from drilling at the Pernatty C project in South Australia
- The company drilled two drill holes at the project from December 2021 to March 2022 which were co-funded by the Department for Energy and Mining SA
- Assay results from this drilling work include intersections of up to 8.6 per cent zinc. 1.9 per cent lead and 40.1 grams per tonne (g/t) silver
- Cohiba says it now intends to develop an exploration model demonstrating the potential economic viability and feasibility to exploit the project
- Shares in Cohiba are trading grey at 0.9 cents at 10:05 am AEST
Cohiba Minerals (CHK) has reported “significant” zinc results in assay data returned from drilling at the Pernatty C project in South Australia.
The company drilled two drill holes at the project from December 2021 to March 2022 to test the Tapley Hill Formation for Zambian Copper Belt (ZCB) sediment-hosted mineralisation and to continue to drill to the Wallaroo Group basement for copper skarn or distal iron ore copper gold (IOCG) mineralisation.
The drilling work was co-funded by the Department for Energy and Mining SA as part of the Accelerated Discovery Initiative (ADI) program.
Cohiba’s best intersections from the drilling included 0.95 metres at 2.2 per cent zinc from 735.2m, 0.8m at 8.6 per cent zinc, 1.9 per cent lead and 40.1 grams per tonne (g/t) silver from 865m and 1.3m at 5.9 per cent zinc from 876.5m.
The company said it now intended to develop an exploration model demonstrating potential economic viability and feasibility to exploit the project.
The Pernatty C project lies in an area of current and historical mineralisation 40 kilometres south of Oz Mineral’s Carrapateena IOCG copper mine and 13km south-east of the historic Mt Gunson copper mine.
Shares in Cohiba Minerals were trading grey at 0.9 cents at 10:05 am AEST.