Chairman Keith Jones said: “We have long known we are exploring...

Chairman Keith Jones said: “We have long known we are exploring in elephant country – a view backed up not only by the world class projects which surround us, but also by historical and geophysical evidence of an IOCG system in the northern part of our tenure. Given that we knew the enormous potential of our tenure, it is still tremendously exciting for our first deep exploration hole at Elizabeth Creek to have intersected evidence of a major IOCG system existing on our ground. This is the first drill-backed evidence obtained by Coda to support our IOCG exploration model. We are lookingforward to exploring the significant potential of this mineralised system.”

CEO Chris Stevens said: “This is a very exciting and significant result for the very first deep IOCG exploration hole to be drilled at our Elizabeth Creek Project since we listed on the ASX, and it represents the culmination of significant geological and geophysical targeting work undertaken prior to listing. Although assays are pending and we cannot confirm the tenor or extent of the mineralisation we have encountered, preliminary geological logging and field observations by Coda’s experienced technical team suggest that the hypothesis which drove the design of this hole has been validated.Regardless of the final assays, it is clear based on geological data alone we have intersected an IOCG alteration system of significant scale.