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Cohiba Minerals Limited (CHK.AX) Commences Drilling Activities Exploration Update

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Cohiba Minerals Limited (ASX:CHK)
Cohiba Minerals Limited (ASX:CHK)

Cohiba Minerals Limited (CHK.AX) Commences Drilling Activities & Exploration Update

Melbourne, Australia, July 7, 2021 - (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) is pleased to provide an update in relation to the current status of exploration activities being carried out.

Drill Core Investigations (Mineralogy and Petrology)

Cohiba has secured the services of subject matter experts in Iron Oxide - Copper - Gold (IOCG) systems to conduct extensive mineralogical and petrological investigations of the drill core from the Horse Well area. These investigations are of paramount importance to understanding where we are situated in the stratigraphic sequence and what this means in terms of potential proximity to mineralisation. These investigations have directly assisted Cohiba in determining the location of future drill holes and particularly in the decision to drill another hole at the same collar location as HWDD04. This work will continue to be fully supported by Cohiba as a key component of its exploration strategy.

Horse Well Drilling

A contract has been signed with Durock Drilling to undertake a "wedge" hole from the same collar location as HWDD04. The drill rig is in transit from New South Wales under essential personnel status to address current border closure issues. The decision to undertake this hole has been based on the excellent drill core investigations conducted by the Company's subject matter experts following the recent high grade copper results intersected earlier this year.

An EPEPR (Exploration Program for Environment Protection and Rehabilitation) has been completed for the Horse Well area, covering 12 additional drill holes for up to 16,800m of drilling. The drill hole locations have been based on the extensive work by the subject matter experts which also included a re-interpretation of some of the key geophysical data.

Pernatty C

Cohiba has finally secured a drilling contractor for the Pernatty C drilling and is currently working out the logistics in relation to drill pads and sumps for this drilling to be undertaken at the earliest possible time.

Whilst IOCG mineralisation is a target in the region, Cohiba will primarily focus on the shallower, Zambian Copperbelt (ZCB) style mineralisation which is evidence by strong copper - cobalt - silver mineralisation in the Mt Gunson area.

Cohiba is also in the process of defining additional target areas within the Pernatty C area with the intention of lodging an additional EPEPR for further drilling.

Pyramid Lake Gypsum (Western Australia)

Cohiba has submitted a renewal application and all the supporting documentation to DMIRS WA for a further five (5) years over the Pyramid Lake tenement (E74/594). Cohiba is still committed to the establishment of a Mining Lease over the premium and high-grade gypsum resources that have been identified and is working with a local consulting firm to finalise the necessary documentation.

Work, Health and Safety (WHS)

The Company engaged the services of Euro Exploration to build on and complete the WHS system that the Company is required to maintain for all activities and especially those in the field. The WHS system will provide the necessary framework and procedures to ensure that all personnel, within and outside the Company, are kept safe and well.

Cohiba's CEO, Andrew Graham says, "Whilst the Company has experienced some significant delays in its ongoing program of work, it has maintained a strong focus on gathering as much supporting data as possible in relation to its key assets in the Gawler Craton. The effectiveness of our subject matter experts (SME) cannot be underestimated as they have provided extensive insights into the mineralogy, petrology, stratigraphy and structure of the areas we are actively exploring. Their work has enabled Cohiba to define more accurately those areas of interest for follow-up work and has been the main driver behind an additional drill hole at HWDD04. Cohiba continues to maintain an exceptional portfolio of tenements within the Gawler Craton and is committed to fully exploring their potential."

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.


Andrew Graham

Cohiba Minerals Limited

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