Olympic Domain

Olympic Domain Tenements – South Australia
(51% moving to 80% under Farm-In Agreement)
Cohiba holds a highly strategic tenement package in the world-class Gawler Craton comprising eight (8) exploration licences covering 831 km2 in the Pernatty B (Horse Well), Pernatty C and Andamooka-Peninsula (Lake Torrens) areas.

 

Horse Well (Pernatty B)

Cohiba’s Horse Well tenements directly border BHP’s Oak Dam West project where drilling in 2017 encountered 425.7 m @ 3.04% Cu, 0.59 g/t Au, 346 ppm U & 6.03 g/t Ag including 180 m @ 6.07% Cu, 0.92 g/t Au, 401 ppm U & 12.77 g/t Ag (Source: BHP News Release, November 27, 2017 – BHP copper exploration program update).

Multiple programs of work comprising gravity, magnetics and magnetotellurics have been undertaken and show the presence of a major “feeder” system which is believed to be associated with Iron Oxide- Copper-Gold (IOCG) mineralisation.

Pernatty C

Cohiba’s Pernatty C tenement is situated in a known copper producing area (Mt Gunson) which has been favourably compared to the Zambian Copper Belt (ZCB) deposits. Historical production from the Mt Gunson copper-cobalt-silver resource 10 kms to the west was 150 Kt Cu and 2.1 Moz Ag at an average Cu grade of 2.44% (Source: R.A. Creelman, Gateway Mining Ltd – Pernatty Lagoon-Mt Gunson Cu Deposits, South Australia, CRC LEME, 2005). Significant copper has been identified from drilling around the Pernatty C area which represents a compelling target for shallow, sedimentary hosted copper.

Assay results from a geochemical soil conducted in early 2020 showed anomalous values of copper-zinc-lead which are analogous to historic soil sampling within the historic Mt Gunson copper mining district mines and deposits. There was also a strong correlation with path-finder elements Ca, Mg, Fe, Mn, Cr, Co, Ni, As, Bi, Th, U, Ag and Au.

Regional geological interpretation of the Pernatty C area showing position of EL5970 and gravity low (from DGO Gold ASX Announcement 19 November 2019)
Coincident Cu-Pb-Zn anomalies (white circles) overlain on magnetic (TMI) and gravity images. Targets areas where there is low gravity are indicative of the Whyalla Sandstone as previously indicated (see Cohiba ASX announcement dated 10 February 2020).

A resistivity/IP survey was also conducted over part of the southern Pernatty C area coincident with magnetic and gravity highs and anomalous geochemistry. A number of inferred faults were identified, and an exploration target defined within a sandstone layer above the Tapley Hill Formation. A drilling program will be conducted to test this target and others within the Pernatty C area.

Scenic landscape at Pernatty C

 

 

 

Andamooka-Peninsula (Lake Torrens)

The Andamooka-Peninsula area is highly prospective for both Iron Oxide-Copper-Gold (IOCG) mineralisation as well as shallower base metal mineralisation associated with the Andamooka Limestone. Detailed geochemistry over part of the northern area, coincident with a magnetic anomaly, returned anomalous copper values.

Coincident copper anomaly and magnetic high within EL6121 (Andamooka-Peninsula)