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supported the Company throughout this program. Their shared commitment to the highest standards of safety, heritage and
environmental custodianship is greatly valued by Coda.
Remaining diamond drill core is currently being transported to Adelaide, where it will be cut and relevant sections of the
target Tapley Hill Formation shale will be submitted for assay. Final assay results are expected in late April 2021 subject to
laboratory processing times.
The Company is focused on converting a substantial proportion of the previously announced Exploration Target1 for Emmie
Bluff into a maiden JORC 2012 Compliant Mineral Resource Estimate as the basis for a significant uplift in its mineral resource
base at Elizabeth Creek. In parallel, drilling of a number of Tier-1 IOCG targets in the adjacent exploration corridor is scheduled
to commence next month, subject to receipt of final approvals.
Resource Definition and Future Work
The Company isincreasingly confident, based both on previously released assays and preliminary assessment of more recently
drilled holes, that the Exploration Target represents an accurate first-pass approximation of the vast scale and lateral extent
of the main mineralised Emmie Bluff embayment. The Emmie Bluff copper-cobalt mineralisation remains open, especially to
the south-east where strong potential for sub-basins and associated satellite deposits has been identified, work to fully
evaluate this area is ongoing.
Given these results, Coda is committed to its previously announced work program at Emmie Bluff (see Figure 1, below), with
a program of additional in-fill drilling expected to comprise 4-6 diamond holes scheduled to commence in the June 2021
Quarter.
This drilling is designed to provide the Company with sufficient data to support an Inferred Mineral Resource classification at
Emmie Bluff, based on a significant portion of the previously announced Exploration Target in the same area2
. The maiden
Mineral Resource Estimate is expected to be completed in Q3 2021
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