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Results keep Cohiba’s eye on IOCG prize
Mining
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Cohiba Minerals’ hopes that it could be close to an IOCG (Iron Ore Copper Gold) system have been given a shot in the arm by latest assays from the Horse Well Prospect, less than a month after a key acquisition by the company.
The results are consistent with other results from the project in the prolific Gawler Craton and place Horse Well firmly in Cohiba Minerals’ (ASX:CHK) sights for further exploration.
Significantly, the drill hole has boosted the company’s understanding of the location, including the discovery of what the emerging critical minerals company named the Horse Well Fault. This fault is interpreted to have formed during regional IOCG deposit formation in a world-class minerals hot spot.
Only 5km from BHP’s Oak Dam as well as the $1B+ Carrapateena copper mine, and in the same neighbourhood as Olympic Dam, Horse Well has yielded hits including 1.5m at 0.32% copper, 0.18ppm gold and 2.99ppm silver from 1162 – 1163.5m.
Cohiba’s CEO, Andrew Graham said: “The Horse Well Fault Prospect remains as a key exploration target zone as supported by the persistent low-level copper, gold and silver mineralisation in drill hole HWDD08.
“This is only the second hole drilled in the region since Western Mining’s HWD1 hole was drilled in 1982 and as such significant work is being undertaken to assess every component of the drilling to determine the next site.
“We remain steadfastly of the view that the Horse Well Fault Prospect is an IOCG target area worthy of thorough investigation and it remains on our agenda as a priority target.”
Spreading critical minerals wings
The latest news from Cohiba comes in hot after its potentially game-changing acquisition of Canadian lithium projects, which also have rare earths potential.
The four projects are a combined 148km2 within known lithium terranes hosting major resources of the critical mineral.
It’s a move that has broadened Cohiba’s exposure to metals essential to the clean energy transition and has been backed by sophisticated investors to the tune of $1,750,000 in a placement.
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.
