Pic: Getty Images
Cohiba strikes more zinc
Mining
share
In-fill drilling at Cohiba Minerals’ Pernatty C project has unearthed more significant zinc-silver results that will help the company develop an exploration model for the project in the mineral-rich Gawler Craton.
The assays follow significant zinc results released in July and include including 1.0m at 5.28% zinc and 2.3ppm silver from 788m.
Cohiba Minerals (ASX:CHK) drilled the earlier holes at the tenement with support from the South Australian Department for Energy and Mining as part of its Accelerated Discovery Initiative program.
Executive Director and CEO, Mr Andrew Graham said: “Given this set of very encouraging results we will continue to build our understanding of the geology and structure of this area with the intention of targeting further zinc-lead-silver mineralisation through a follow up program of work.”
Cohiba is also revving up the drills at its copper projects near BHP’s (ASX:BHP) Olympic Dam and Oak Dam, plus OZ Minerals’ (ASX:OZL) $1 billion Carrapateena copper mine that attracted the Big Australian’s takeover bid.
The emerging miner is upping its exploration efforts with the help of a share purchase plan targeting $2 million. The closing date for eligible shareholders is this Friday, with results to be announced next Wednesday.
A metal for all seasons
Zinc is already the fourth most widely consumed base metal across the globe, with about 13.8 million tonnes mined last year according to Statista.
The bluish-silver metal is commonly used in traditional industrial sectors such as construction and die-casting for cars, electrical and hardware products. It’s also used in nickel, silver, brass and bronze alloys.
However the metal is attracting renewed investor interest due to its use in clean energy, such as zinc-based batteries for electric vehicles.
It’s also essential to low-carbon technologies such as zinc coatings to prevent rust in solar panels and wind turbines.
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.
