Significant Assays at new Horse Well Fault Prospect
Melbourne, Jan 31, 2023 AEST (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) (CHKMF:OTCMKTS) is pleased to provide an update to the market in relation to significant assays results from drilling at the Horse Well Fault Prospect (Figure 1*).
Cohiba's CEO, Andrew Graham says, "The Horse Well Prospect has delivered two key exploration target zones; the central eastern area where the Bluebush Fault has been traced in multiple holes and the central northern area where the Horse Well Fault has been identified. Persistent low-level copper, gold and silver mineralisation in drill hole HWDD08, which is only the second hole drilled in the region since 1982, has confirmed that the Horse Well Fault Prospect is an IOCG target area worthy of thorough investigation. A thorough review of the Western Mining's HWD1 hole drilled in 1982, coupled to the Company's own technical assessment of the geophysics and geology led us to prioritise this area as a standalone IOCG target."
HWDD08 was completed to 1509.9m on 12 October 2022. The hole was designed to follow up on low level but persistent copper mineralisation encountered in Gawler Range Volcanics (GRV) in the historic WMC (Western Mining Corporation) hole, HWD1, drilled in June 1982.
The follow-up drilling substantially improved the knowledge of this location, intersecting basement rocks of diorites and gneiss' which are dissected by the large scale ENE-WSW striking Horse Well Fault, and into a down-faulted block of Wallaroo Group sediments, which underlie the Gawler Range Volcanics the original HWD1 hole ended in. The Horse Well Fault has caused brecciation and is associated with mineralisation radiating away from the fault into all rock units. The gneiss units in the hanging wall of the fault have fractured brittlely making them ideal hosts for mineralisation, which is demonstrated by the significant intersections outlined in this announcement.
Cohiba is targeting IOCG (Iron Ore Copper Gold) and associated mineralisation styles at its Horse Well Project.
Minor intervals of IOCG style mineralisation have been intersected in hole HWDD05 at the Bluebush Fault prospect, which is another highly prospective target area. The broad elevated geochemistry is highly encouraging and consistent with substantial mineralisation in the area, opening up the potential of the greenfields Horse Well prospect for further exploration. Potential mineralisation could occur along the Horse Well Fault, along inferred faults parallel to this, or in structures intersecting or oblique to the Horse Well Fault.
The analytical results for drill hole HWDD08 were completed by ALS Laboratories and have been assessed by the Company and its technical consultants. The assay results have been weighted based on the sample length and all reported intervals are continuous sample lengths. The results are summarised below:
o 111.6m @ 0.27% Cu & 0.05ppm Au & 0.35ppm Ag from 1043.2-1154.8m
o 0.8m @ 1.17% Cu & 0.34ppm Au & 0.83ppm Ag from 1068.2-1069m
o 0.65m @ 2.52% Cu & 0.4ppm Au & 1.51ppm Ag from 1107.35-1108m
o 1m @ 2.03% Cu & 0.21ppm Au & 1.51ppm Ag from 1122-1123m
o 1m @ 2.07% Cu & 0.23ppm Au & 1.88ppm Ag from 1135-1136m
*To view tables and figures, please visit:
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.
Cohiba Minerals Limited