Exploration Update - Horse Well, Pernatty C and Warriner Creek
Melbourne, June 14, 2022 AEST (ABN Newswire) - Cohiba Minerals Limited (
ASX:CHK) (CHKMF:OTCMKTS) is pleased to provide a brief update to the market in relation to the current drilling at the Horse Well Prospect (Figure 1*) and the status of samples from the Pernatty C and Warriner Creek drilling programs.
Highlights:
- HWDD06 is targeting coincident gravity and magnetic anomalies within a target zone extending from brecciation and strong haematite and sericite alteration intersected in drill hole COHWDDH03 (Figures 1 and 2*).
- Geophysical targets less than 5 kilometres west of BHP's Oak Dam project
- HWDD06 has progressed to a depth of 780m on its way to a basement target zone of 990m (which should be encountered on or around June 13).
- HWDD06 is expected to be completed on or around June 30.
- The samples from the Pernatty C drilling are currently being processed by ALS Laboratories.
- The samples from the Warriner Creek drilling are currently being processed by ALS Laboratories and will include a full suite of rare earth elements (REE).
Cohiba's CEO, Andrew Graham says, "The Horse Well Prospect represents a key IOCG target zone within the Gawler Craton and we are committed to investigating it to the fullest extent possible. HWDD06 is considered to have great potential and was earmarked for investigation following encouraging results from HWDD03, HWDD04, HWDD05 and HWDD05W. Given the considerable target depth, we have ensured that all technical information at our disposal has been scrutinised in detail to maximise our potential for exploration success.
The Pernatty C and Warriner Creek projects also represent strategic exploration target zones and we eagerly await the assay results which will greatly assist in our future exploration strategy."
Cohiba has received regulatory and landholder approval for up to 12 drill holes at the Horse Well Prospect and is targeting coincident gravity and magnetic anomalies, but with a focus on some of the subtler gravity responses where technical reviews of previous drilling have suggested a possible masking of the target areas due to more complex geology than that seen at Oak Dam West.
HWDD06 commenced at a dip of 70deg and the current plan is to progressively shallow the hole to a final dip of 60deg (Table 1*) to gain a better cross-sectional result. It is expected that the basement will be encountered at a downhole depth of 990m.
The Pernatty C and Warriner Creek drill core samples are currently being processed at ALS Laboratories and will be subject to a full suite analysis including gold and rare earth elements (REE). Detailed logging of the drill core is being undertaken to provide much greater insight into the mineralogy, structures and alteration styles present at these prospects.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/0QF8C4IW
About Cohiba Minerals Limited
Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.
The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.
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