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CBH - Coolabah Metals

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Coolabah Metals Limited is a minerals exploration company that was incorporated on 28 July 2021 for the purpose of identifying, acquiring and developing prospective copper, gold and base metal assets throughout Australia. The Company has acquired, or entered into agreements to acquire (subject to satisfaction of certain conditions precedent), a 100% legal and beneficial interest in a number of tenements comprising three separate projects in New South Wales and Queensland:

(a) the Nymagee Project (NSW) which comprises three granted exploration licenses covering 533.3km2 centred approximately 5km East of Nymagee township in the Lachlan Fold Belt (NSW) and is within close proximity to known high-grade polymetallic Cobar Style Deposits;

(b) the Coolabah Project (NSW) which comprises four granted exploration licenses covering an area of 1,177km2 centred around the Coolabah township in the Lachlan
Fold Belt (NSW), with previous geochemistry highlighting significant copper anomalism coincident with magnetic anomalies akin to the nearby
Girilambone-Tritton-Constellation Copper Deposits; and

(c) the Gunpowder Creek Project (QLD) which comprises one exploration licence covering 119km2 north-west of the Mount Isa Copper-Lead-Zinc deposits, with a previous 5km strike length of historic gold working with high grade rock chip samples up to 32g/t gold,

(together, the Projects)

The Company is currently the registered holder of three granted exploration licences which form part of the Coolabah Project and has entered into a binding tenement sale agreement with Bacchus Resources Pty Ltd dated 23 August 2021, pursuant to which the Company will acquire (subject to satisfaction of the conditions precedent) a 100% legal and beneficial interest in the remaining tenements making up the Projects.

It is anticipated that CBH will list on the ASX during June 2022.

 
Listing date22 June 2022 11:00 AM AEST ##
Contact details Ph: +61 8 9481 0389
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeCBH
Capital to be Raised$6,000,000
Expected offer close date06 June 2022
UnderwriterNot underwritten. Barclay Pearce Capital Pty Ltd and CPS Capital Group Pty Ltd (Joint Lead Managers)
 
like many floats, in on a wing and a prayer. Looms like they've discarded one and pick up another project (Canadian Lithium).
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Highlights for June Quarter 2023
• Approval to acquire the Hampden Lithium Project in Canada granted at the Coolabah Metals Limited General Meeting
• Maiden drilling programs conducted at the Coolabah Project and at Bradbury’s Prospect within the Nymagee Project

HAMPDEN PROJECT
• The well-timed acquisition of the Hampden Project, leading into the Canadian field work season, allowing the commencement of exploration of identified targets
• Coolabah acquired 113km2
of lithium exploration claims located within 20km of Patriot Battery Metals’ Corvette property in the James Bay region of Quebec
• Coolabah acquired an additional 70km2 property in North-western Ontario; the project named McCoy Lake, is located 75km east of the Frontier Lithium properties
• The Carmoy Project targets interpreted dyke structures identified from aerial photography, 15km along strike to the north-west of Patriot Battery Metals’ Corvette Project, which has recently announced spectacular drilling results of 156.9m @ 2.12% Li2O including 25m @ 5.04% Li2O


NYMAGEE PROJECT
• Drilling targeted the source of the large 2km long magnetic anomaly; interpreted to be pyrrhotite, an iron sulphide commonly associated with Cobar-Nymagee Style mineralisation
• The drilling encouragingly intersected significant amounts of sulphides, including pyrrhotite, supporting the interpretation
• The volume of magnetic pyrrhotite intersected however, was not enough to explain the magnetic anomaly, suggesting the targeted main body of the anomaly is located deeper than anticipated
• Follow-up geophysical modelling using the drillhole data, indicated that two parallel anomalies remain untested


COOLABAH PROJECT
• The maiden RC drilling program at EL9287 targeted the two modelled EM conductors associated with the magnetic high
• The processing and interpretation of EM data obtained from the HeliTEM²
survey, highlighted eight anomalies which were delineated from the results
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still $3.5 million in the tuckerbag.
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since listing
Screenshot_20231015-134413_CommSec.jpg
 
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