Follow on: 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
COD Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
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