Coda Minerals Ltd (ASX: COD) has obtained a positive Scoping Study completed on the sedimentary copper-cobalt mineralization at its 100%-owned Elizabeth Creek Copper-Cobalt Project in South Australia.
The Study has delivered compelling financial metrics and technical outcomes, and the Coda Minerals Board has approved the commencement of next-stage Pre-Feasibility Study (PFS) work.
The Elizabeth Creek Project comprises three granted Exploration Licences covering an area of 701sq. km in the Olympic Dam Copper Province, Australia’s most productive copper belt.
The project lies in the heart of an active mining region, being located 100km south of BHP Billiton’s Olympic Dam copper- gold-uranium mine and 50km west of OZ Minerals’ Carrapateena copper-gold project, with access to high-quality infrastructure. It is located 35km south-east of the town of Woomera and 135km north-west of Port Augusta in South Australia.
Coda’s primary focus at Elizabeth Creek is on the development of the sedimentary copper-cobalt mineralization (which forms the subject of this Study) as the basis for a sustainable long-term mining and processing operation.
In parallel, the company is also continuing to explore for deeper iron-oxide copper-gold (IOCG) mineralization following the discovery of the Emmie IOCG copper-gold deposit in June 2021
The Study confirms the potential for a globally competitive, long-life mine based on the copper-cobalt mineralization contained within the MG14, Windabout and Emmie Bluff deposits. The Study is based on low-risk, conventional open pit and underground mining techniques with processing using conventional flotation and downstream processing common to copper-cobalt projects globally.
The project is well supported for infrastructure and boasts excellent ESG credentials, being located in a stable, tier-1 mining jurisdiction with access to the nation’s most renewable power grid.
“The Scoping Study results contained within this announcement mark the culmination of just over 15 months of intense and highly focused work since the publication of the Emmie Bluff Copper-Cobalt Resource in December 2021,” Chairman, Keith Jones, said.
“During that time, the Coda team has delivered a robust metallurgical process for the project, identified the optimal mining method and defined a detailed mine plan. Through this work, we have demonstrated a means to produce mineral products that are in high demand and integral to a decarbonized future.
“I congratulate the team for their hard work and dedication in completing this study and would like to thank all of the consultants who have been instrumental in achieving this result. I would also like to extend my appreciation to the Kokatha People for their help during the Study process and for the strong working relationship we have built.
“We look forward to continuing this strong relationship through further studies and into project development.”
For further information please visit: https://www.codaminerals.com/
