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Cohiba Minerals gets skates on for exploration
Mining
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Cohiba Minerals is moving full steam ahead with its exploration strategy targeting minerals essential for the clean energy transition in Australia and Canada.
The company is in discussions with major service providers to make the most of the summer field season at its newly acquired Maple Minerals projects in Ontario.
The four projects cover 148km2 of prospective lithium and potential rare earth ground in known lithium terranes and were bought by Cohiba Minerals (ASX:CHK) in May with the support of sophisticated investors.
Major bushfires have halted the season in parts of Canada, but the current situation in Ontario should now allow reconnaissance work to go ahead.
In Queensland, Cohiba has developed a comprehensive program for its Wee MacGregor copper project with the aim of significantly increasing the resource. In more promising news for the company, it has also received a registration of interest for a direct investment into the project and is in discussions about this opportunity.
At its better known Olympic Domain copper and zinc prospects, all assay results from recent drilling have been received and are being reviewed with the aim to start up the drills again in the near future.
A key target for these efforts is Horse Well Prospect, which is only 5km from BHP’s Oak Dam as well as the $1B+ Carrapateena copper mine, and in the same neighbourhood as Olympic Dam.
It’s also where Cohiba has discovered the Horse Well Fault which is interpreted to have formed during regional (Iron Ore Copper Gold) IOCG deposit formation.
Cohiba’s CEO, Andrew Graham says, “We are currently in discussions with major service providers in Canada, with expertise in the lithium space, regarding reconnaissance work on our lithium projects in Ontario.
“We want to optimise the summer field work season in Canada and are working to finalise the necessary components to enable this to happen as quickly as possible.
“We are also developing a comprehensive program of work for our Wee MacGregor copper project in Queensland and are in discussions with an overseas group regarding direct investment into that project.
“Whilst these are exciting new developments we remain committed to the Olympic Domain projects which have returned some significant and highly encouraging results.
“We have focussed intently on gaining a solid understanding of the technical characteristics at each Olympic Domain prospect as we believe this will greatly enhance exploration success.
“We are continuing to review and refine our models with the intent of undertaking additional drilling in the near future.”
This article was developed in collaboration with Cohiba Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
