Coda Minerals Limited in conjunction with joint venture partner Torrens Mining Limited reported significant new developments with the ongoing IOCG drilling programme at Emmie Bluff Deeps. The drilling programme continues to make excellent progress, providing further clarity on the nature of the emerging IOCG discovery at Emmie Bluff Deeps, which was first highlighted by parent hole DD21EB0018. This hole intersected 35m of mineralisation grading in excess of 1% copper with peak grades of 5.39% Cu within the higher grade bornite zones and 1.19g/t Au in the main chalcopyrite zone. In its most recent major update on 23 August 2021, Coda announced assay results for recently completed wedge holes (17.1m @ 1.2% Cu, 0.3 g/t Au from 824m in DD21EB0018W1, 24.0m @ 2.2% Cu, 0.3 g/t Au from 815m and 12.9m @ 3.5% Cu, 0.6 g/t Au from 902m in DD21EB0018W2). Since that release, the Company has completed two additional surface diamond drill holes (DD21EBD0002 and DD21EBD0003), and a total of three wedge holes reported below. The drilling of additional wedge holes is ongoing to further
define the system. IOCG style mineralisation of varying thickness and tenor (as identified by visual logging of copper bearing sulphides, supported by handheld XRF) has now been intersected over a significant area, and the Company's exploration model has evolved along with the results. Recent drilling by Coda has now demonstrated the presence of mineralisation throughout an area of at least 300m east west by 200m north south. The mineralisation is essentially open in all directions except directly to the north of DD21EB0018, and historical drill results provide strong evidence that lateral extension does occur beyond the bounds of recent drilling, potentially as far as 800m to historical drill hole SAE 4 or beyond.