Had a Geologist do a bit of digging over the last few days and...

Had a Geologist do a bit of digging over the last few days and he came back to me with this info (not advice) and thought it would be worth sharing. Some may be able to add further comments.

"This is the hole that has intersected significant copper mineralisation and is encouraging from multiple angles:
1. Figure 6 shows clear evidence of massive sulphide mineralisation (albeit perhaps only over narrow intervals). Looking at the photographs it is difficult to distinguish the relative proportions of copper and pyrite - both are shiny yellow minerals. But is likely these intervals will generate locally high grade copper results (likely >2 % Cu, possibly several % Cu), but probably only narrow lengths.
2. The presence of massive sulphides indicates there is potential for a much larger mineralising system, so will likely require follow up drilling.
3. We have bornite as well as chalcopyrite (Figure 7). Bornite is a bonus - it contains double the amount of copper as chalcopyrite. Expect some good results here - again over narrow intervals, but possibly several % Cu.
4. The host granite is foliated (Figure 6, right hand side), which may indicate proximity of a fault of feeder structure. The veins shown in Figure 7 is also a very positive sign, indicating the mineralising fluids were sufficiently pressurised to break the rock apart.

There are some very encouraging signs in HWDD04 as the chalcopyrite and bornite mineralisation shown in Hole 4 is worth talking about, and is real. It will return solid number numbers, and it will be great to see what happens with any follow up drilling. Hole 4 was drilled deeper than originally planned due to the presence of mineralisation. The Dec quarterly describes "varying degrees" of mineralisation until 1396 m. This means there is a possibility the assays will return a broad (i.e. large interval) intersection. This could be 10's of metres but lower Cu grade.
Cohiba don't really discuss the geophysics much in their quarterly reports (they present images in their April 2019 investor presentation, but opt out in the November 2020 version). Gravity and magnetics are critical tools in targeting under cover and any major IOCG deposit should be accompanied by a gravity anomaly."

Delays are frustrating, but if I was a betting man I'd bet a large amount that the 80% agreement has a lot to do with it.