Where did CODA aquire this tenement from?The explorer is able to...

Where did CODA aquire this tenement from?

The explorer is able to earn a 75 per cent interest in the Elizabeth Creek project by way of a staged farm-in, with its equity interest rising in line with exploration spending.Already, $5.6m has been spent by the company on exploration at Elizabeth Creek in which it currently has a 51 per cent interest.Coda Minerals can increase its stake to 70 per cent on spending a total of $6.6m on exploration for the project.Elizabeth Creek is located 135km north of Port Augusta and 100km south of BHP’s big Olympic Dam mine.The project is host to different styles of copper mineralisation, including iron oxide copper-gold deposits typical of the Eastern Gawler Craton.Elizabeth Creek has a JORC-compliant resource of 159,000 tonnes of copper and 9,400 tonnes of cobalt on an indicated basis.The company is targeting a resource of 1 million tonnes of copper by 2021.The Gawler Craton is host to a number of high-profile mining operations, including BHP’s Olympic Dam copper-uranium mine, and OZ Minerals’ (ASX:OZL) Carrapateena and Prominent Hill projects.

Could be an alternative buy in