Cohiba Minerals Limited
COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED
DATE: 30 August 2018
STRONG COPPER-COBALT-GOLD GRADES FROM WEE
MACGREGOR DRILLING
Highlights:
Hole GC5:
8-10m
10-12m
Hole WM03: 2-4m
4-6m
1.2% Cu
1.38% Cu
2.15% Cu, 0.063% Co, 1.1ppm Au
1.49% Cu, 0.066% Co, 1.3ppm Au
Cohiba Minerals Limited (ASX: CHK) (“Cohiba” or “Company”) is pleased
to advise that it has received results from the first phase of drilling.
Although very early in the program, results have been encouraging and
have demonstrated the presence of subsurface copper mineralisation in
the previously untested Great Central area.
ISSUED CAPITAL
557,947,574 fully paid shares
414,635,367 CHKO listed options
In 2018 we had 1 bln shares, thanks to following MD we have 3,+ bln
We had such a great drilling results but MD's had no intentions to continue...No wander geologists first thing turned to Wee MacGregor...We have so many briliant projects but searching luck over the oceans for something unknown wasting years, at the time we are sitting on treasure and doing nothing.The Wee Macgregor group comprises three granted mining licences, ML 2504, ML 2773 and ML 90098. These licences are located approximately 60km southeast of Mr Isa with access via the sealed Barkly Highway and the unsealed Fountain Springs Road. The Wee Macgregor project (licence ML 2504) has an existing JORC 2012 estimated Inferred Resource of 1.65Mt @ 1.6% Copper and an exploration target of between 1.0 – 1.5Mt @ 2.3 – 3.7% Copper as determined by the previous tenement operator.
The line to Mount Isa opened in May 1929. Large reserves of copper were discovered at Mount Isa in 1941.[129] By the end of 1965, the Black Rock open cut (1957) had yielded more copper than all the mines of the Cloncurry field had yielded in their entire history.
Anything above 1% is considered high grade copper
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