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COD - Coda Minerals (1 Viewer)

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Coda Minerals is a mineral exploration company established from the Demerger Scheme undertaken by Gindalbie Metals for the purpose of exploring for and discovering high grade Copper-Cobalt and IOCG Mineral Resources located at its Elizabeth Creek Project situated on the Stuart Shelf within the Gawler Craton in South Australia.

Coda is in the process of earning up to 75% of the Elizabeth Creek Project by way of a staged farm-in, with a pathway to increasing its ownership interest in the project via the expenditure step in agreement in the Joint Venture. The Company was attracted to this project due to its highly prospective geological setting within proven mineralised mining areas, and the lack of modern exploration or processing techniques across the extensive tenement package.

The Company has already commenced exploration activities, including by spending $5.6 million on exploration activities at the Elizabeth Creek tenements as at the Prospectus Date. It currently holds a 51% interest in the project, but is anticipating completing the final farm-in stage to acquire a 70% interest in the first quarter of 2021. It also holds an option to increase its interest in the project to 75%.

It is anticipated that COD will list on the ASX during October 2020.

 

Dona Ferentes

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Came to market in early Oct, 2020. Shares issued at 30c.

Some 85 million shares out there, and a market cap of $26million. Top 20 hold 56%

COD is focused on the exploration and evaluation of the Elizabeth Creek Project located in the highly prospective Olympic copper belt in South Australia. Elizabeth Creek tenure host multiple exploration targets for resource expansion including Zambian-style shale hosted copper resources and IOCG prospects.

In another development, Torrens Mining will list on the ASX, under code TRN. Coda, its funding partner in Elizabeth Creek, have now earned a 51% interest and "remain fully committed to the Elizabeth Creek Copper-Cobalt and IOCG Project, on which Torrens was founded."

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Dona Ferentes

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and COD Carry On Drilling

Assay Results Confirm Huge Lateral Extent of Emmie Bluff Copper – Cobalt Mineralisation

Highlights

• Drilling defines major extensions of Emmie Bluff copper-cobalt mineralisation
• Enormous lateral extent of over 4.5km² confirmed; open in several directions
• Mineralisation extent extended by up to 830m in three directions, including new intercepts of 2.05m at 4.09% CuEq and 3.49m at 2.49% CuEq
• All holes collared within Emmie Bluff Exploration Target to date have encountered mineralisation
• Maiden JORC 2012 Compliant Mineral Resource estimate process to commence shortly

since IPO listing:
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Commenting on the results, Coda CEO Chris Stevens said: “Our programme was designed to improve confidence and coverage within the bounds of the Exploration Target itself, and we have achieved that goal. We deliberately took some big swings, placing holes hundreds of metres away from known mineralisation, and we got the results we wanted, extending the mineralisation in multiple directions.”

“Assays from this round of drilling, as well as from historical drilling intersections, confirm that the Emmie Bluff mineralisation occurs in flat-lying beds, typically 2-6m in thickness. The key to the Emmie Bluff copper-cobalt deposit is its lateral scale. The Emmie Bluff Exploration Target already covers an area over 4.5km², larger than King’s Park in Perth and it has considerable scope to expand. On that scale, mineralisation of this great lateral extent adds up to an impressive whole.

“Although rarely seen in Australia, these large, laterally-extensive copper deposits commonly occur in other parts of the world. Indeed, the Kupferschiefer, one of the world’s greatest copper deposits rarely exceeds 60cm in thickness but has incredible lateral extent. Although clearly there are some differences, we believe that Kupfershiefer, located in Northern Europe, is an excellent analogue, both chemically and genetically, for Emmie Bluff.”
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