Drilling Resumes at Horse Well Prospect
Melbourne, May 27, 2022 AEST (ABN Newswire) - Cohiba Minerals Limited (
ASX:CHK) (CHKMF:OTCMKTS) is pleased to announce that drilling has recommenced at the Horse Well Prospect (Figure 1*) with drill hole HWDD06 (Figure 2*) underway.
Cohiba's CEO, Andrew Graham says, "We are excited to be back at Horse Well armed with considerable additional insights into the geology and structure of the area and trust that this will translate into exploration success. We remain confident that the Horse Well Prospect represents a key IOCG target zone within the Gawler Craton and are committed to investigating it to the fullest extent possible."
The Horse Well Prospect is immediately adjacent to BHP's advanced exploration play at Oak Dam West which has reported significant intersections such as AD-23 with 425.7m at 3.04% Cu, 0.59 g/t Au, 346 ppm U and 6.03 g/t Ag from 1,063m including 180m @ 6.07% Cu, 0.92 g/t Au, 401 ppm U and 12.77 g/t Ag from 1,070m (BHP News Release, 27 November 2018).
Cohiba has received regulatory and landholder approval for up to 12 drill holes at the Horse Well Prospect and is targeting coincident gravity and magnetic anomalies, but with a focus on some of the subtler gravity responses where technical reviews of previous drilling have suggested a possible masking of the target areas due to more complex geology than that seen at Oak Dam West.
HWDD06 is designed to drill across one such residual gravity feature, leveraging insights gained from nearby drill hole COHWDD03 (Figure 3*) that this area exhibits strong haematite and sericite alteration in the host granite (Donington Granite) which also hosts the Oak Dam and Carrapateena deposits.
Haematite and sericite alteration associated with strong brecciation fabrics and persistent low-level copper mineralisation in a number of the Horse Well drill holes are clear signs of the potential for IOCG mineralisation.
The current plan is to commence HWDD06 has commenced at a dip of 70deg and the current plan is to progressively shallow the hole to a final dip of 60deg (Table 1*) to gain a better cross-sectional result. It is expected that the basement will be encountered at a downhole depth of 990m.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/24OFEHD2
About Cohiba Minerals Limited
Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.
The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.
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