Projects

ELIZABETH CREEK COPPER PROJECT

The Elizabeth Creek Copper Project is centred approximately 35 km south-east of Woomera and 135 km north-west of Port Augusta in South Australia.

The project currently covers 739 km2 in the Olympic Dam Copper Province, Australia’s most productive copper belt. The project is located 100 km south of BHP Billiton’s Olympic Dam copper-gold-uranium mine and 50 km west of OZ Minerals’ Carrapateena copper-gold project.

The project mining centre lies 10 km off the sealed Stuart Highway and is accessed by established unsealed roads. Established access to electrical grid power and scheme water is available in the area. The Adelaide to Perth/Darwin railway runs parallel to the Stuart Highway. Additionally, regular air services are available at Roxby Downs and Port Augusta, and a serviceable airstrip for light aircraft is located on site. Accommodation is available at Woomera.

GEOLOGY

The Elizabeth Creek Copper project hosts or is prospective for multiple styles of copper mineralisation, including Iron Oxide Copper-Gold (IOCG) deposits typical of the Eastern Gawler craton such as the nearby Carrapateena and Oak Dam West deposits and sandstone breccia hosted copper deposits such as the Cattlegrid deposit which have historically yielded the vast majority of copper mined in the area.

Coda’s primary focus is on stratabound, shale hosted Cu-Co-Ag deposits, examples of which include the MG14 and Windabout resources and the Emmie Bluff deposit. At Elizabeth Creek, these deposits are hosted by the flat-lying undeformed sedimentary rocks of Late Proterozoic Age which make up the Stuart Shelf. These platform sediments are referred to as the ‘Cover Sequence’ and unconformably overlie complexly deformed and metamorphosed igneous rocks of the eastern margin of the Archaean Gawler Craton.

Mineralogically, these deposits are composed of shale-hosted fine-grained sulphides, comparable to deposits found all over the world, including in central Africa (Zambian style) or central Europe (kupferschiefer-type). Copper is primarily hosted in chalcopyrite, with accessory chalcocite and bornite, with Cobalt is primarily in the form of carrolite.

The main mineralisation occurs as well-defined stratabound zones at the upper and lower contacts of the dolomitic shales and arenites of the host Tapley Hill Formation (THF). The THF appears to have been deposited in shallow basin-like structures elongated along a north-west to south-east trend. Elevated base metal values (copper, lead and zinc) occur throughout the unit, but large-scale economic deposits are rare outside of the Elizabeth Creek area.

RESOURCES AND RESERVES

The MG14 deposit is a concealed, flat lying body of disseminated copper sulphide mineralisation at 25m depth. It is oriented east-west and is approximately 1,400 m long by 400 m wide with a varying thickness between 3 to 8 m. A JORC 2012 compliant resource was estimated by T. Callaghan in January 2018 with a cut-off grade of 0.5% Cu equivalent.

The Windabout deposit is similar in style to MG14 with copper sulphide mineralisation dipping approximately 5° to the north-east and varying in depth from 55m to 80m. The deposit is elongated east-west and is approximately 2,000 m long by 1,000m wide with varying thickness between 3 to 8 metres. A JORC 2012 compliant resource was estimated by T. Callaghan in January 2018 with a cut-off grade of 0.5% Cu equivalent.

MG14 deposit has a JORC 2012 compliant indicated resource estimate as follows [1]

CuEq > 0.5% cut off CuEq > 1.0% cut-off
Mt Cu % Co ppm Ag g/t CuEq% Mt Cu % Co ppm Ag g/t CuEq%
1.83 1.24 334 14 1.67 1.59 1.33 360 15 1.8

The Windabout deposit has a JORC 2012 compliant indicated resource estimate as follows [2]

CuEq > 0.5% cut off CuEq > 1.0% cut-off
Mt Cu % Co ppm Ag g/t CuEq% Mt Cu % Co ppm Ag g/t CuEq%
17.67 0.77 492 8 1.41 11.86 0.95 599 10 1.73

The currently contemplated mining strategy for MG14 and Windabout mineral deposits is based on the shallow depth, free dig overburden, and their sheet-like and sub-horizontal structure. The MG14 orebody would likely be mined first due to its higher grades and shallow depth while Windabout, with a lower head grade, longer life, and higher stripping ratio would likely be mined subsequently.

EXPLORATION TARGET

In June of 2019, an Exploration Target was defined at the Emmie Bluff prospect in the north of the Elizabeth Creek Copper Project area. Comprised of the same style of Tapley hosted Cu-Co-Ag mineralisation style as is found at MG14 and Windabout, Emmie Bluff is an underground target, with the top of mineralisation sitting at approximately 400m.

Much like the other deposits, the host rock is largely flat lying, extending over an area of roughly 3km by 2km, with mineralisation split into an upper and lower lode at the Tapley Hill’s contact horizons. The initial Exploration Target was estimated as follows[3]:

 

Tonnage Range (Mt) Cu Range (%) Co Range (%) Ag Range (g/t) Cu EQ. Range1
Tapley Hill Formation Upper Layer 26.8 – 44.6 0.935 – 1.558 0.038 – 0.064 11.3 – 18.9 1.391 – 2.326
Tapley Hill Formation Lower Layer 16.2 – 27 0.336 – 0.56 0.016 – 0.027 5 – 18.4 0.528 – 0.884
Total 43 – 71.6 0.336 – 1.558 0.016 – 0.064 5 – 18.9 0.528 – 2.326

The Company notes that the potential quantity and grade of the Exploration Target is conceptual in nature, and that there has been insufficient exploration to estimate a Mineral Resource. It is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Competent Person Statement for JORC 2012 Mineral Resource

This report was prepared in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) by Tim Callaghan, who is a Member of the Australian Institute of Mining and Metallurgy (“AusIMM”), has a minimum of five years’ experience in the estimation and assessment and evaluation of Mineral Resources of this style and is the competent Person as defined in the JORC Code. This announcement accurately summarises and fairly reports his estimations and he has consented to the resource report in the form and context it appears.

The MG14 and Windabout Mineral Resource at the Elizabeth Creek Copper Project has been estimated by Mr Tim Callaghan, an external consultant, and is reported under the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves (see Gindalbie Metals ASX announcement 19 January 2018 titled: Mt Gunson Copper-Cobalt Project Update).

Competent Person Statement for JORC 2012 Exploration Target

Information relating to the Exploration Target and Exploration Results for Emmie Bluff is based on, and fairly represents, information and supporting documentation compiled by Craig Went, a Senior Associate Geologist of Mining & Process Solutions Pty. Ltd. Mr Went is a Member of the Australasian Institute of Mining and Metallurgy (“AusIMM”), and has a minimum of five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (”JORC Code”). Mr Went consents to the inclusion of the matters based in this ASX Release on his information in the form and context in which it appears.

References

[1] For full details, see Gindalbie Metals ASX announcement 19 January 2018, “Mt Gunson Copper-Cobalt Project Update

[2] For full details, see Gindalbie Metals ASX announcement 19 January 2018, “Mt Gunson Copper-Cobalt Project Update”

[3] For full details, see Gindalbie Metals ASX announcement 19 June 2019, “Initial Exploration Target at Emmie Bluff

BACK TO TOP