COD coda minerals ltd

2.67%

7.7¢

Discovery hole Prominent Hill gravity high (mag low) margin, 30m...

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Seth Davis

9,070 Posts.

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19/06/21

13:13

Post #: 53941475
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Originally posted by cjames1: ↑

Finally have time to reply @Xav117...

"So with the knowledge that MGD69 exists you have the following situation- MGD 55 is to the east of DD21EB0018 by ~500m with 80m at 0.4% Cu- MGD 69 is to the NW of DD21EB0018 by ~850m with 12m at 0.39% CuSo basically COD have to hope thata) The grades at DD21EB0018 are incredibleb) The mineralisation holds for a few 100m to the NW/NE/E to create a sizeable resource before it decreases in thickness at MGD69/55."

I hear what you're saying but it's very easy to miss these things within even 100-200m (even though they are generally very large systems), the fact they hit mineralisation in holes so far apart to me is a big positive. Look at the discovery of Carrapateena below, you've drilled a hole with essentially barren rock, stepped out a few hundred meters and drilled an absolute stonking hole into the deposit:

Now look at the discovery of Prominent Hill - same thing, they missed by a few hundred meters:

Compare this to Emmie Bluff Deeps, the previous drill holes were much wider apart YET they hit significant mineralisation in the holes to the east (as in wide, low grade copper mineralisation). There is A LOT of space there to fit a sizeable deposit, they almost certainly haven't hit the best stuff yet and are on the periphery IMO. There should be a higher grade, sub-vertical breccia core or feeder structure:

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Discovery hole Prominent Hill gravity high (mag low) margin, 30m @ 2.72% Cu 0.45g/t Au.

COD Price at posting: $1.39 Sentiment: Buy Disclosure: Held
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