Coda Minerals Ltd. advised that an Ambient Noise Tomography (ANT) survey has commenced over the Emmie Bluff IOCG discovery and Emmie Bluff copper-cobalt deposits at its 100%-owned Elizabeth Creek Copper Project in South Australia, with placement of the initial geodes now well advanced. The deployment of Fleet Space Technologies' "ExoSphere" ANT survey represents a pivotal new phase of exploration aimed at unlocking the broader potential of the Emmie Bluff Project and following up on the discovery of the Emmie IOCG copper-gold deposit in June 2021. The survey is designed to provide a highly detailed sub-surface velocity map to assist in identifying structures that may host extensions of and/or thicker mineralized portions of the Emmie IOCG deposit.

While the Company has completed over 23,000m of diamond drilling at Emmie IOCG, the area covered by the drilling is laterally small, leaving vast areas of the anomaly untested by drilling and not yet covered by geophysical surveys capable of identifying mineralizing structures. The ANT survey will give Coda the ability to cover a much greater area at significantly lower cost than drilling, allowing it to refine and update the next stage of its exploration work programmes. In addition to assisting with exploration for IOCG-style mineralization, the ANT survey is also expected to assist in the identification of any additional areas of Tapley Hill Fm shale, which is the host rock for the shallower copper-cobalt deposits that occur across its tenure.

Subject to time and progress, the survey will also be deployed across the Central Elaine Zone Area, which hosts compelling evidence of IOCG mineralization and remains highly prospective.