Cohiba Minerals Limited (CHK.AX) Horse Well Drilling Update
Melbourne, Australia, Oct 6, 2020 - (ABN Newswire) - Cohiba Minerals Limited (ASX:CHK) is pleased to announce that drilling on its first hole (HWDD02) at the Horse Well prospect is complete and the second drill hole (HDWW03) has passed the 1,000m mark.
HWDD02 was completed at 1,013m and the drill core has been sent back to Adelaide for further technical review and assaying. HWDD02 encountered black shales from 684 - 890m which showed evidence of sulphide mineralisation and will be analysed in 1 metre intervals for copper, lead, zinc and gold (Figure 2*). The remainder of the hole was drilled in porphyritic, coarse-grained granite with variable degrees of HWDD03 is currently underway and despite delays from localised flooding has passed the 1,000m mark and is progressing well. HWDD03 encountered coarsely crystalline (3-150mm) basement material from 890m which is strongly altered quartz-earthy hematite-K-feldspar-epidote-chlorite-(muscovite) rock. An open space pyrite vein was encountered at 990m (Figure 4*).
In the sediments directly overlying the basement material there were a number of small veins of native copper (Figure 5*).
At the end of the last shift the HWDD03 had reached 1,040m where it encountered a 2 m wide zone (fault zone?) of red earthy, hematitic ironstone with disseminated sulphide mineralisation (Figure 6*).
Cohiba's CEO, Andrew Graham said, "We are excited about what we have seen to date and are looking forward to reporting definitive results to the market as they are received. We will continue drilling at HWDD03 and in light of the current progress will complete the drilling at Horse Well, which comprises an additional 2 holes, prior to commencing drilling at Pernatty Lagoon. In addition, we have identified another key target area and will be seeking approval to drill test that target in the future."
*To view tables and figures, please visit:
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.
Cohiba Minerals Limited
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