Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Cohiba Minerals Limited    CHK   AU000000CHK3

COHIBA MINERALS LIMITED

(CHK)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Cohiba Minerals Limited (ASX:CHK) Strategic drill holes for Horse Well & Pernatty C Approved

share with twitter share with LinkedIn share with facebook
07/15/2020 | 05:47pm EDT

Melbourne, Australia, July 16, 2020 - (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) is pleased to announce that the Heritage Survey for the planned drilling programs at both Pernatty C and Horse Well was completed with strategic drill holes being approved in the key target areas.

The Kokatha Aboriginal Corporation (KAC), accompanied by Australian Heritage Services and Euro Exploration completed the survey which saw the total number of approved holes reduced, primarily due to the dune systems, but allowed strategic holes for testing the primary targets to be included.

Cohiba is making the final adjustments to the Exploration Program for Environment Protection and Rehabilitation (E-PEPR) to reflect the revised program and will then deploy the drillers to site.

The Horse Well drill holes will target deeper (~1,000m) Iron Oxide-Copper-Gold (IOCG) mineralisation similar to that at BHP's nearby Oak Dam West deposit. Previous work at Horse Well identified two major potential "feeder" zones with strong lateral and depth continuity which supports the theory of a deep basement conductive zone associated with IOCG mineralisation (Figure 1*).

The Pernatty C drill holes will target shallower (~300m) sedimentary-hosted Mt Gunson-style copper-cobalt-silver mineralisation which has been favourably compared to the Zambian Copper Belt (ZCB) deposits. Historical production from the Mt Gunson copper-cobalt-silver resource 10 kms to the west was 150 Kt Cu and 2.1 Moz Ag at an average Cu grade of 2.44% (Source: R.A. Creelman, Gateway Mining Ltd - Pernatty Lagoon-Mt Gunson Cu Deposits, South Australia, CRC LEME, 2005). Significant copper has been identified from drilling around the Pernatty C area which represents a compelling target for shallow, sedimentary hosted copper (Figure 2*).

Assay results from a geochemical soil survey conducted in early 2020 showed anomalous values of copperzinc-lead which correlate to historic soil sampling within the historic Mt Gunson copper mining district mines and deposits. There was also a strong correlation with path-finder elements Ca, Mg, Fe, Mn, Cr, Co, Ni, As, Bi, Th, U, Ag and Au.

A resistivity/IP survey was conducted over part of the southern Pernatty C area coincident with magnetic and gravity highs and anomalous geochemistry. A number of inferred faults were identified, and an exploration target defined within a sandstone layer above the Tapley Hill Formation. The drilling program will test this target area and others within the Pernatty C area (Figure 3*).
Cohiba's CEO, Andrew Graham says, "After 2 years of hard work it gives me great pleasure to announce that we have met all the requirements and have the necessary permits in place to move forward with drill testing our multiple targets at Horse Well and Pernatty C. I wish to congratulate the Cohiba team, consultants and service providers that have worked tirelessly to get us to this critical milestone.

We are looking forward to commencing drilling in our key target areas at Horse Well and Pernatty C. The Horse Well drill holes will be targeting deeper IOCG mineralisation, such as that found at BHP's Oak Dam West deposit and OZ Mineral's Carrapateena Mine, while the Pernatty C drill holes will be targeting sedimentary-hosted Mt Gunson-style mineralisation, which has been favourably compared to Zambian Copper Belt mineralisation.

Our extensive geophysical and geochemical programs over the past two years have provided us with solid technical justification behind our drilling strategy and we are highly optimistic that we will achieve significant outcomes from this next stage of work."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/48RNIVJA


About Cohiba Minerals Limited:

Cohiba Minerals Limited (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.

The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.

Contact:

Andrew Graham
CEO
admin@cohibaminerals.com.au

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English

share with twitter share with LinkedIn share with facebook
Latest news on COHIBA MINERALS LIMITED
07/27COHIBA MINERALS LIMITED (ASX : CHK) June 2020 Quarterly Report
AQ
07/20Cohiba Minerals Limited Drilling Contractors Secured and Pyramid Lake Update
AW
07/15COHIBA MINERALS LIMITED (ASX : CHK) Strategic drill holes for Horse Well & Perna..
AQ
07/01COHIBA MINERALS LIMITED (ASX : CHK) Pernatty C & Horse Well Drilling program & S..
AQ
06/17COHIBA MINERALS LIMITED (ASX : CHK) Board changes and Corporate Update
AQ
05/26COHIBA MINERALS LIMITED (ASX : CHK) Horse Well Geophysics Modelling Update
AQ
05/20Cohiba Minerals Limited Pernatty C Update - RC Drilling Program
AW
2017COHIBA MINERALS LTD : RIGHTS ISSUE: 1 new share @ 0.013 AUD for 6 existing share..
FA
2016COHIBA MINERALS LTD : RIGHTS ISSUE: 1 new share @ 0.015 AUD for 2.5 existing sha..
FA
2015COHIBA MINERALS LTD : RIGHTS ISSUE: 1 new share @ 0.015 AUD for 2 existing share..
FA
More news
Financials
Sales 2019 - - -
Net income 2019 -1,10 M -0,79 M -0,79 M
Net cash 2019 1,48 M 1,06 M 1,06 M
P/E ratio 2019 -6,11x
Yield 2019 -
Capitalization 9,80 M 7,02 M 7,02 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 99,2%
Chart COHIBA MINERALS LIMITED
Duration : Period :
Cohiba Minerals Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers
NameTitle
Andrew Graham Chief Executive Officer & Executive Director
Mordechai Benedikt Executive Chairman
Nachum Labowski Non-Executive Director
Justin Mouchacca Joint Secretary
Romy Hersham Joint Secretary
Sector and Competitors
1st jan.Capitalization (M$)
COHIBA MINERALS LIMITED-8.33%8
ANGLO AMERICAN PLATINUM LIMITED-2.57%19 091
SIBANYE STILLWATER LIMITED36.92%7 507
IMPALA PLATINUM HOLDINGS LIMITED10.42%7 082
ALROSA-17.40%6 879
PAN AMERICAN SILVER CORP.38.85%6 748