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Calling

Emmie’s

bluff

t has taken determination to get Coda Min- type potential across the area starting with
Ierals Ltd to where it is today but there is an exploration target of 46-77mt @ 0.34-
still plenty to do before it reaches its next 1.5% copper, 0.02-0.1% cobalt and 5-19 g/t
milestone. silver for a copper equivalent range of 0.5-
“Relentless forward progress driven 2.3% at Emmie Bluff.
by real work and results is what we want Recent drilling results confirmed the ex-
to be about. We are fortunate so far that tension of mineralisation by up to 830m
every hole that we have physically put into in three directions, including new copper
the existing exploration target area has hit equivalent intercepts of 2.05m @ 4.09%
mineralisation,” Coda chief executive Chris and 3.49m @ 2.49%.
Stevens (above) told Paydirt. All holes within the Emmie Bluff explora-
“What that is telling us is that we have tion target have encountered mineralisa-
good confidence in the exploration target, tion, with a lateral extent of the exploration
it is not an aspirational target; it is reason- target over 4.5sq km and remains open in
ably realistic, subject to additional work we several directions, the company reported.
need to do. The latest drilling information caught the
“We are almost certainly going to have attention of the market with Coda appreci-
do drill a few more holes, probably less than ating from 30c/share to 46c/share, as the
we were expecting which is good because company remained above 40c/share at the
of the continuity we see happening. All the time of print.
holes having mineralisation in that existing Stevens believes some of the most excit-
area bodes well for getting into a resource ing drillholes, from an expansion and explo-
[definition] reasonably quickly.” ration point of view, remain ahead of Coda.
Stevens was referring to Emmie Bluff at Nevertheless, the latest drilling has deliv-
the Coda/Torrens Mining Ltd (70:30 JV) ered on what it was designed to do; improve Coda appears to have a prime position in
Elizabeth Creek copper project South Aus- confidence and coverage within the bounds SA’s IOCG belt
tralia. of the exploration target.
Coda is one of the new faces on ASX “We deliberately took some big swings, The Emmie Bluff exploration target already
block, however, its history is deep (it was placing holes hundreds of metres away covers an area over 4.5sq km, larger than
spun out of Gindalbie Metals), and its from known mineralisation, and we got the King’s Park in Perth and it has considerable
launch pad into SA’s exploration scene ma- results we wanted, extending the miner- scope to expand.
ture enough that the potential for a maiden alisation in multiple directions. The market “That is our focus now and we have to
resource in mid-Q3 at Emmie Buff is very saw that and rewarded us for it because demonstrate to the market that we can take
real. they saw that we were serious,” Stevens prospects into resources. We have other
Over $7 million has been invested on said. targets on the tenure and other prospects;
metallurgical, geotechnical and processing “Assays from this round of drilling, as it is really about building resources. Anyone
work on the existing MG14 and Windabout well as from historical drilling intersections, can put out prospective-type announce-
resources of 280,000t copper equivalent at confirm that the Emmie Bluff mineralisa- ments, but it is results that are important.”
Elizabeth Creek. With another $11.8 million tion occurs in flat-lying beds, typically 2-6m
in the bank (at December 31), Coda is well in thickness. The key to the Emmie Bluff – Mark Andrews
placed to chase Zambian-style and IOCG copper-cobalt deposit is its lateral scale.

aUSTRaLIa’S PaYDIRT aPRIL 2021 Page 29