Coda Minerals Limited (ASX: COD) has commenced drilling at its highly prospective Cameron River Project, located in the heart of the world-class Mt Isa mineral province in North Queensland.
Cameron River comprises 35 sq. km of prospective copper and gold exploration tenure immediately north of the historical Mary Kathleen Uranium Mine.
In March 2021, the company entered in a binding Farm-In and Joint Venture Agreement giving it the right to acquire up to an 80% ownership in the Cameron River Project.
The initial programme will consist of a total of approximately 30 drill holes for an estimated 3,000m of Reverse Circulation (RC) drilling.
Targets for the first round of drilling include some of the most prospective sites on the tenure, including the Bluey, Bingo, Copper Weed, Rebound and Clifford prospects, with drill targeting based on a combination of mapping and geochemistry, Dipole-Dipole and Gradient Array IP (DDIP and GAIP) and historical helicopter-borne electromagnetic surveys (VTEM).
“The programme commenced on August 23 with earthworks and ground preparations,” CEO Chris Stevens said/
“After a short delay due to rig availability and adverse weather, drilling commenced on Monday 5 September at the Copper Weed prospect.
“Although drilling commenced slightly later than planned, the rig will now be run on a double-shift basis which means the programme is expected to be completed earlier than previously scheduled.
“This Phase 1 programme, which will comprise approximately 30 holes for 3,000m of RC drilling, is expected to take three weeks to complete.
“We are also making great progress on the Emmie Bluff Integrated Scoping Study at Elizabeth Creek in South Australia with the updated mining study now entering its final stages. We expect to have all material inputs to the study completed by late September with public release of the study expected in mid-to-late October 2022.”
About Cameron River
Cameron River consists of 35 sq. km of copper and gold exploration tenure spanning two Exploration Permits (EPMs 27042 and 27053). The tenure is located approximately halfway between Mt Isa and Cloncurry, and immediately north of the historic Mary Kathleen Uranium Mine.
In March 2021, Coda entered into a binding Farm-in and Joint Venture Agreement with Wilgus Investments Pty Ltd giving it the right to acquire up to an 80% ownership in the Cameron River project by spending up to $2 million on exploration in stages over a three-year period.
For further information please visit: https://www.codaminerals.com/
