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Cohiba Minerals Ltd.
Summary
| Project: | Wee MacGregor | |
|---|---|---|
| Deposit: | MacGregor | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Cobalt | |
| Date: | 8/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-8-2018: Cohiba Minerals Ltd. announces an Exploration/Drilling Update report for its MacGregor deposit at the Wee MacGregor project. Drilling results incl. 2m @ 2.15% Cu, 0.063% Co, 1.1ppm Au from 2m. Cohiba Minerals Limited (ASX: CHK) (“Cohiba” or “Co | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Olaf Frederickson (Independent) | |
| ABSTRACT: | Cohiba Minerals Limited (ASX: CHK) (“Cohiba” or “Company”) is pleased to advise that it has received results from the first phase of drilling. Although very early in the program, results have been encouraging and have demonstrated the presence of subsurface copper mineralisation in the previously untested Great Central area. In addition Hole VWM03 demonstrates the presence of accessory mineralisation for gold and cobalt coincident with the copper mineralisation in the Wee MacGregor mine area, refer Figure 1 for drill hole locations. The significance of this is that the coincident cobalt and gold results in the Wee MacGregor mine area indicate the potential to substantially increase the value of the deposit when based on copper values alone (assuming current commodity prices). Initial assays have been done on two metre composite samples in order to reduce costs. Any of the composite samples returning elevated grades will be re assayed on one metre intervals as required, refer Tables 1 and 2 for hole locations and assay results received to date. The aim of the drilling program was to quantify the anecdotal evidence of the presence of gold and cobalt in the Wee MacGregor area indicated by surface rock chip samples and to establish the existence of and controls on untested mineralisation in the Great Central area. Any new mineralisation found in this area will not have been included in any resource estimate or exploration target previously established and may add to potentially exploitable material. | |
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