HIGHLIGHTS
• Transformational quarter for Coda Minerals with the commencement of a multi-pronged exploration program at the Elizabeth Creek Project in South Australia.
• The program included drilling of a 1,200m hole to test a Tier-1 IOCG target at Emmie Bluff Deeps, located 16km south-west of the world-class Oak Dam Discovery (BHP).
• The first deep IOCG hole intersected a sequence of approximately 200m of intensely haematitic and altered sediments and granites, including approximately 50m of moderate to intense copper sulphide mineralisation, including chalcocite, chalcopyrite and bornite.
• Subsequent to quarter-end, assays were reported from this first hole increasing confidence in the opportunity and providing strong confirmation of IOCG-style coppergold mineralisation within multiple zones.
• In aggregate, the hole intersected more than 35m of mineralisation grading in excess of 1% Cu with peak grades of 5.39% Cu.
• Two follow-up wedge holes have been drilled with a third in progress. These have demonstrated increasing intensity of mineralisation to the east and have increased the Company’s understanding of the mineralisation and exploration model.
• Second diamond rig mobilised at Emmie Bluffs Copper-Cobalt Deposit to accelerate Mineral Resource Estimate, due for completion in December Quarter
• Results of sampling at Cameron River in North Queensland returned multiple samples anomalous for copper, gold and nickel with follow up work continuing.
• The Company raised $14.4 million before costs at $1.20 per share.
• Strong financial position, with $21.8 million cash on hand as at 30 June 2021, allowing the
• Company to continue to progress an aggressive exploration campaign at Elizabeth Creek
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