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CODA MINERALS LTD Capital/Financing Update 2021

Dec 21, 2021

64682_rns_2021-12-21_8e4fb071-9ffc-4e7e-96a6-475ac3a4543e.pdf

Capital/Financing Update

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IOCG Assays Extend Bornite Zone at Emmie Bluff Deeps

ASX RELEASE 22 December 2021 ASX Code: COD

Highlights

  • The next round of assays for the Emmie Bluff Deeps IOCG project have been received from the assay lab, with exceptional intersections from drillhole EBD3W2 in particular.

  • Highlights include:

  • Hole 3W2 has returned a mineralised intercept of 68m, comprising:

    • 26.9m @ 1.95% Cu, 0.29 g/t Au from 803.5m, including 8m @ 3.55% Cu, 0.2 g/t Au from 816m and;

    • 41.8m @ 1.21% Cu and 0.28 g/t Au from 911.5m

  • Hole 2W1: 18.5m @ 1.01% Cu, 0.24 g/t Au from 889.8m

  • • Hole 3: 13.3m @ 1.00% Cu, 0.23 g/t Au from 906.7m

  • Peak grades of 9.48% Cu in 3W2 support the company’s exploration model seeking extensions of this high grade bornite core, which is targeted for extension by drillhole EBD4 (currently being drilled).

  • Drilling will continue in the New Year as Coda continues to search for horizontal and vertical extensions of this high grade and potentially vast IOCG system.

  • Coda’s cash balance remains above $14 million at the date of this announcement.

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EBD2
EBD5
EBD2W1
EBD3
EBD3W2
EBD4
6 Altona Street E: [email protected]
West Perth
Western Australia, 6005 ABN 49 625 763 957
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Coda Minerals Limited (ASX: COD, “Coda”, or “the Company”), in conjunction with joint venture partner Torrens Mining Limited (ASX: TRN), a listed gold and copper company (“Torrens”), is pleased to report the next round of assay results from drilling at its Emmie Bluff Deeps IOCG prospect.

Coda is the operator and majority owner of the Elizabeth Creek Project, holding a 70% interest alongside Torrens, which holds a 30% interest. Coda has an irrevocable option to acquire an additional 5% of the Elizabeth Creek Copper Project by paying $ 1.5 million to Torrens at any point from the current time up to 60 days from a decision to mine.

Assay results have been received for four holes for which visual estimates were released in October 2021; two parent holes DD21EBD0002 (EBD2) , DD21EBD0003 (EBD3) and two wedge holes DD21EBD0002W1 (2W1) and DD21EBD0003W2 (3W2) . Sections of diamond drill core which were considered to be most prospective were prioritised for rapid turnaround of processing and assaying. Additional assays from less prospective parts of the holes, as well as from the thick, low‐intensity disseminated and blebby chalcopyrite zones in the basement granite from holes 2W1 and 2W2 are expected in coming weeks. Further holes are either still being processed or are pending results from the assay lab (see table 2 below).

The most significant results came from 3W2, a wedge hole drilled to the northeast from EBD3, which was collared approximately 300m due south of the Emmie Bluff Deeps discovery hole, DD21EB0018. This hole encountered a significant structure from approximately 794 to 810.5m, before entering into a 26m zone of bornite mineralisation from 804m to 830m. This was then followed by a second intersection of a 42m within the lower lode dominated by chalcopyrite from 911 to 953m[1] .

Commenting on the assays, Coda’s CEO Chris Stevens said: “Hole 3W2 is our best assayed drill intercept at Emmie Bluff Deeps to date. The aggregate result of 68 metres of high-grade copper-gold mineralisation comprising two intervals of 26m at 1.95% Cu and 42m at 1.2% Cu confirm previously released visual results and highlight the presence of a high-grade bornite zone within the deposit.

“Based on recent visual intercepts, we expect that drillhole 3W3B, currently pending assay results, will return a similarly positive and potentially thicker intercept of bornite in the higher-grade upper lode, confirming the increasing trend of thickness within this high-grade zone towards the south-east.

“Beyond hole 3W2, we are continuing to demonstrate the classic IOCG sulphide zonation within the deposit – with a bornite zone now confirmed by assays from holes EB18W2 and EBD3W2 and the broader chalcopyrite halo intercepted by multiple mineralised holes. With these assays, we have now confirmed the expected transition to a pyrite dominated suite in EBD2, which would typically signal the edge of the mineralisation in an IOCG deposit. However, thanks to recent drill successes from drillholes 2W3 and 2W4, we know, based on visuals, that some of our thickest chalcopyrite dominated copper mineralisation comes back to the east and the north of hole 2, and very likely to the south as well.

“It will be a major priority to follow up on these encouraging signs and the potential for an enormous increase in lateral extent around EBD2. We are also very excited about our new parent hole EBD4, which is targeting the most prospective area to date – the interpreted thickening trend of the high-grade bornite zone to the south-east of EBD3W3.

“As of Monday this week, our field crews have now demobilised for a brief but well-earned Christmas and New Year’s break. I would like to take this opportunity to thank all of the contractors, consultants and employees who have worked so hard for us this year and look forward to recommencing fieldwork in the first week of January as we progress this exciting and growing IOCG discovery.”

1 Includes minor internal dilution.

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E: [email protected] ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

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Assays for these intervals are as follows:

Table 1 Material assays from drillholes EBD2, EBD3, EBD2W1 and EBD3W2.

HoleID From To Thickness Cu % Au g/t Ag g/t Mo ppm
DD21EBD0002 876 878 2 0.85% 0.02 5.8 9
884.2 886.8 2.6 0.28% 0.09 0.3 114
896.4 897.2 0.8 0.47% 0.1 0.4 78
923.1 923.8 0.7 0.78% 0.18 1.0 167
924.6 926.7 2.1 0.52% 0.06 0.5 5
930.4 931.8 1.4 0.79% 0.03 6.1 63
DD21EBD0002W1 867.6 869.7 2.1 1.59% 0.53 12.3 7
880 880.7 0.7 0.57% 0.02 1.0 6
884.6 884.9 0.3 1.41% 0.3 0.8 76
887.5 888.1 0.6 0.71% 0.16 0.6 7
889.8 908.3 18.5 1.01% 0.24 1.8 136
DD21EBD0003W2 803.5 830.4 26.9 1.95% 0.29 12.8 198
Incl.
816 824 8 3.50% 0.22 21.7 212
833.6 836 2.4 0.73% 0.005 2.9 15.9
911.5 931.1 19.6 0.95% 0.28 2.5 219
933.1 953.3 20.2 1.57% 0.31 10.7 308
Within a broader
anomalous zone of:		 911.5 953.3 41.8 1.21% 0.28 6.4 264
DD21EBD0003 903.1 904.1 1 1.53% 0.61 5.6 60
906.7 916.2 9.5 1.24% 0.18 11.6 59
918.2 920 1.8 0.77% 0.59 4.7 21
Within a broader
anomalous zone of:		 906.7 920 13.3 1.00% 0.23 9.4 47
DD21EB0003 Au/Ag
anomalous zone:		 896 934.1 38.1 0.27 5.2

Planned and Ongoing Work

Coda is currently progressing with two new parent holes, seeking an extension to the bornite dominated mineralisation encountered in drillholes 18W2, 3W2 and 3W3B and an understanding of the western extent of the chalcopyrite mineralisation which surrounds it.

EBD4: Located approximately 330m due east of EBD3, and drilled to the southwest, this hole is designed to continue to extend the mineralisation encountered in EBD3W2 and EBD3W3B. If successful, this will add an additional approximately 250m of strike to the known bornite mineralisation. Additional wedge holes EBD4W1 and EBD4W2 are also anticipated. Decision to drill these wedges will be dependent on results from parent hole EBD4.

EBD5: Located approximately 340m northwest of DD21EB0018, and drilled to the south, this hole is designed test the continuity of mineralisation encountered in 18W1 to the west, and attempt to extent that mineralisation to the edge of the gravity anomaly associated with Emmie Bluff Deeps. The anticipated pierce point for the mineralisation is just over 200m due west of 18W1, and will represent a material increase in the known mineralised envelope. An additional wedge hole, drilled to the southeast, is also anticipated.

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E: [email protected]

6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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Figure 1 Emmie Bluff Deeps schematic long section, looking northeast. The parallel stacked lodes are open to the north and to the south east, where the major fault structure associated so far with bornite mineralisation is expected to continue. Potential for lateral extension to the east and west remains, but is not expressed on this section. Geology has been simplified and partially compressed into viewing plane for dispay purposes.

Label
HoleID		 From(m) To(m) Int.(m)
AssayResults		 Int.(m)
AssayResults
A DD21EB0018W1 824 839 17
1.18% Cu,0.31g/t Au and 1.34g/t Ag
B DD21EB0018 811 839 28
1.21% Cu,0.37g/t Au and 2.3g/t Ag
C DD21EB0018W2 815 839 24
2.17% Cu,0.29g/t Au and 8.9g/t Ag
D DD21EB0018W2 902 914.5 12.5
3.46% Cu,0.64g/t Au and 25.4g/t Ag
E DD21EBD0003 906.7 920 13.3 1.00% Cu,0.23g/t Au and 9.4g/t Ag
F DD21EBD0003W2
803.5		 830.4 26.91.95% Cu,0.29g/t Au and 12.8g/t Ag
G DD21EBD0003W2
911.5		 953.3 41.8
1.21% Cu,0.28g/t Au and 6.4g/t Ag
H DD21EBD0002W1
889.8		 908.3 18.5
1.01% Cu,0.24g/t Au and 1.8g/t Ag

E: [email protected]

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6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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Table 2 Emmie Bluff Deeps assay status summary.

HoleID Assays
Received		 Mineralisation Est.
Width		 Best Assay Results
4.5m @
1.01% Cu, 0.17g/t Au from 797.45m
DD21EB0018 Yes CHALCOPYRITE DOMINATED 45m 28m @
1.21% Cu, 0.37g/t Au from 810.79m
2.5m @
2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1 Yes CHALCOPYRITE DOMINATED 20m 2m
17m		 @
@
1.76% Cu, 1.09 g/t Au from 820.56m

1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2 Yes BORNITE DOMINATED
BORNITE DOMINATED		 24m
13m		 24m
13m		 @
@
2.17% Cu, 0.29 g/t Au from 815m

3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002 Yes PYRITE/CHALCOPYRITE
DOMINATED		 55m 2m
0.7m
1.4m		 @
@
@
0.85% Cu, 0.02 g/t Au from 876m

0.78% Cu, 0.18 g/t Au from 923.1

0.79% Cu, 0.03 g/t Au from 930.4m
DD21EBD0002W12 Yes CHALCOPYRITE DOMINATED
CHALCOPYRITE DOMINATED		 27m 2.1m
18.5m		 @
@
1.59% Cu. 0.53 g/t Au from 867.6m

1.01% Cu, 0.24 g/t Au from 889.8m
DD21EBD0002W2 BORNITE DOMINATED 25m Assays Pending
DD21EBD0002W3 CHALCOPYRITE DOMINATED 56m Assays Pending
DD21EBD0002W4 CHALCOPYRITE DOMINATED 63m Assays Pending
DD21EBD0003 Yes BORNITE DOMINATED 13m 13m @
1% Cu, 0.23 g/t Au from 906.7m
DD21EBD0003W1 CHALCOPYRITE DOMINATED 50m Assays Pending
DD21EBD0003W2 Yes BORNITE DOMINATED
CHALCOPYRITE DOMINATED		 67m 27m
42m		 @
@
1.98% Cu, 0.29 g/t Au

1.21% Cu, 0.28 g/t Au from 911.5m
DD21EBD0003W2A CHALCOPYRITE DOMINATED 40m Assays Pending
DD21EBD0003W3B BORNITE DOMINATED 45m Assays Pending
DD21EBD0004 Drilling Ongoing
DD21EBD0005 DrillingOngoing

Assay Results in Detail

The assay results released here correlate well with the previously announced visually observed mineralised zones. The overall interpretation of the deposit by Coda’s technical team remains a laterally zoned sediment‐hosted expression of an otherwise typical Gawler Craton IOCG‐type fluid, with mineralisation controlled by structural upgrading of a primary low Cu magnetite deposit and (likely) the sedimentary properties (particularly permeability and porosity) of the host rocks.

Mineralisation within EBD2 is dominated by pyrite, with minor disseminated chalcopyrite making up anomalous copper zones which stretch from 876m to 932m (averaging approximately 0.17% Cu and 0,03 g/t Au). Bands of higher‐grade chalcopyrite dominated mineralisation result in narrow reportable (i.e. >0.3% Cu) zones, typically <2m thick and spread throughout the anomalous interval.

This contrasts with hole EBD2W1 , which was drilled to the west‐southwest of EBD2. Anomalous copper results and chalcopyrite dominated mineralisation were encountered higher up the hole than in the parent hole but were largely restricted to narrow bands (which may be stratigraphically equivalent to similar mineralised bands at similar RLs in the parent hole).

At the main mineralised zone (19.46m @ 1.06% Cu from 889.78m), the hole achieved a separation from the parent hole of only approximately 50m, but the tenor and mineralogy of the mineralisation changed markedly, with significantly more chalcopyrite and less pyrite, and an overall higher Cu grade. Immediately below this mineralisation, mafic intrusives were noted which were not present in the parent hole. These intrusives may have overprinted or prevented the formation of a second mineralised horizon, which was observed from approximately 922m in the parent hole and 930m in wedge hole EBD2W2[3] (35m further west, not yet assayed)

2 Granitic basement assays still pending.

3 See “Emmie Bluff Deeps IOCG Mineralisation Materially Extended”, released on 6 December 2021 and available at https://www.codaminerals.com/download/emmie‐bluff‐deeps‐iocg‐mineralisation‐materially‐extended/?wpdmdl=3511 for full details

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E: [email protected]

6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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Both EBD2 and EBD2W1 should be considered in the context of the recently announced EBD2W4, which was drilled to the east‐southeast of the parent hole and encountered a thick sequence of chalcopyrite and patches of highly anomalous molybdenite[4] . Interpreted together, these holes suggest that EBD2 may represent something of a local nadir in mineralisation intensity, being too far from the major north‐northwest trending structure encountered in drillholes EDB3W2 and EBD3W3B for significant influence, as well as from the source of the mineralisation in 2W4, which is presumed to be a fault or splay further to the east. It is anticipated that further drilling in the area around EBD2W4 may identify this inferred structure along with additional associated mineralisation.

The assays in EBD3W2 were largely as expected, with strong copper grades over two stacked lodes for a combined total of approximately 68.5 mineralised metres. Stronger copper grades in the upper lode reflect the dominance of bornite in that lode vs chalcopyrite in the lower. Similarly, assays in EBD3 largely met expectations, though interestingly, while the copper mineralisation was largely restricted to an approximate 17m band of bornite dominated mineralisation from approximately 903 to 920m, gold anomalism extended considerably further above and below that band, expressed as an approximately 38m thick band from 896m at an average gold grade of 0.27 g/t (comparable to other mineralised intersections at Emmie Bluff Deeps). This is intriguing, as it strongly suggests that gold bearing fluids at least passed through the sedimentary host rock in considerable volumes, but either these fluids were not copper bearing (which fits with petrological evidence for multiple fluid flow events with different chemistries) or that conditions were highly variable on a local scale and promoted the precipitation of copper sulphides in some parts but not others.

Radionuclides at Emmie Bluff continue to assay low compared to other IOCG deposits in the Gawler craton. Molybdenum (Mo) grades continue to be anomalous having been first identified as such via portable XRF logging in the field.

Molybdenum is weakly correlated with copper, and recent results (not yet assayed) from drillhole 2W4 strongly suggest the mineralisation has a molybdenum rich component, at least in parts of the deposit. The Company will continue to monitor and report Mo grades in future drilling and remains optimistic about the potential for further exploration for molybdenum.

4 ‐ See “Thickest Yet Copper Drill Intercept at Emmie Bluff Deeps”, released on 9 December 2021 and available at https://www.codaminerals.com/wp content/uploads/2021/12/20211209_Coda_ASX‐ANN_Thickest‐Yet‐Copper‐Intercept‐at‐Emmie‐Bluff‐Deeps_RELEASE.pdf for full details

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E: [email protected] ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

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—

This announcement has been authorised for release by the Board of Coda Minerals Ltd

Further Information:

Chris Stevens Steve Shedden Chief Executive Officer Managing Director Coda Minerals Limited Torrens Mining Limited [email protected] [email protected]

Media:

Nicholas Read Read Corporate [email protected]

About Coda Minerals

Coda Minerals Limited (ASX: COD) is a minerals exploration company focused on the discovery, and development of base metals, precious metals, and battery minerals.

Coda is primed to unlock the value of its highly prospective Elizabeth Creek Copper Project, which is located in the heart of the Olympic Copper, Province Australia’s most productive copper belt.

The Elizabeth Creek Copper Project is centred 100km south of BHP’s Olympic Dam mine 15km from BHP’s Oak Dam West Project and 50 km west of OZ Minerals’ Carrapateena copper‐gold project. The project includes JORC 2012‐compliant Indicated Mineral Resources at the Windabout and MG14 deposits, which together host a combined 159,000 tonnes of contained copper and 9,500 tonnes of contained cobalt. The project also includes Coda’s recently estimated flagship Emmie Bluff Resource, which includes Indicated and Inferred components.

Coda has already commenced extensive exploration activities at Elizabeth Creek, which has earned the Company a majority interest in the project (70%). Coda holds the rights and interests to earn up to 75% interest in the project in Joint Venture with Torrens Mining Limited (ASX:TRN).

Coda has a dual strategy for success at Elizabeth Creek. Firstly, it is working to further define and extend known Zambian‐ style copper‐cobalt resources across multiple prospects, including Emmie Bluff, Powerline, MG14 North and Hannibal. Secondly, it is implementing a substantial drill programme at Emmie Bluff Deeps to evaluate the potential rapidly and efficiently for a Tier‐1 IOCG system following a major mineralised intercept in June 2021.

The company listed on the ASX in October 2020 after a successful, heavily oversubscribed IPO which is funding an aggressive exploration campaign across the Elizabeth Creek project tenure. Further information may be found at www.codaminerals.com

About Torrens Mining

Torrens Mining Limited (ASX: TRN) is an Australian company exploring for gold, copper and cobalt and other metals. Torrens is positioned for value growth through its diversified portfolio of prime gold exploration assets in the Victorian Goldfields, its 30% stake in the advanced and active Elizabeth Creek Copper‐Cobalt and IOCG Project in South Australia in joint venture with Coda Minerals Limited and, pending the grant of exploration licences, at the formerly producing high‐grade copper‐gold Laloki Project in Papua New Guinea (PNG). Further information may be found at www.torrensmining.com

E: [email protected]

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6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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Forward Looking Statements

This announcement contains ‘forward‐looking information’ that is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. This forward‐looking information includes, among other things, statements with respect to the Company’s business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward‐looking information can be identified by the use of forward‐looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘potential’, ‘likely’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘would’, ‘could’, ‘should’, ‘scheduled’, ‘will’, ‘plan’, ‘forecast’, ‘evolve’ and similar expressions. Persons reading this announcement are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different. Forward‐looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward‐looking information.

Competent Person’s Statement

The information in this report which relates to exploration results is based on information compiled by Mr. Matthew Weber, who is an employee of the company. Mr Weber is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Weber consents to the inclusion in this report of the matters based on the information compiled by him, in the form and context in which it appears.

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E: [email protected] ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

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Appendix 1: Assay Results Previously Disclosed

No new assays have been disclosed in this report. Assay results from earlier drilling in this programme were reported in previous announcements on 28 July 2021 and 23 August 2021[5] . These are presented in Table 41, below, using a 0.3% Cu cut‐off grade as per the recent announcements.

All elements which Coda believes have the potential to be economically relevant are included in the table below. Aggregated results may include internal dilution of no more than 1m of contiguous material below the 0.3% Cu cut‐off grade.

Table 3 Material assays from wedge drillholes DD21EB0018W1 and DD21EB0018W2.

Hole ID From To Interval Cu% Au g/t Ag g/t Mo ppm
DD21EB0018W1 820.56 822.60 2.04 1.76 1.09 5.40 1030
DD21EB0018W1 824.07 839.16 17.13 1.18 0.31 1.34 555
DD21EB0018W2 815 839 24.00 2.17 0.29 8.85 225
Including:
830.06 833.05 2.99 4.24 0.28 10.47 135
838.36 839.00 0.64 7.75 0.48 9.89 112
DD21EB0018W2 896.96 897.96 1.00 0.73 0.09 3.20 24
DD21EB0018W2 902.15 914.43 12.88 3.46 0.64 25.38 457
Including:
904.56 907.77 3.21 4.94 1.28 41.75 569
911.49 914.43 2.94 4.84 0.30 33.78 580

5 For full details including JORC Table 1, see ASX announcements “Assays Validate IOCG Mineralisation at Emmie Bluff Deeps”, https://www.codaminerals.com/wp‐content/uploads/2021/07/20210728_Coda_ASX‐ANN_Assays‐Validate‐ IOCG‐Mineralisation‐at‐Emmie‐Bluff‐Deeps_RELEASE.pdf and “High‐Grade Assays Confirm Bornite Zone at Emmie Bluff Deeps”, https://www.codaminerals.com/wp‐content/uploads/2021/08/20210823_Coda_ASX‐ANN_High‐Grade‐Assays‐ Confirm‐Bornite‐Zone‐at‐Emmie‐Bluff‐Deeps_RELEASE.pdf.

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E: [email protected] ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

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Appendix 2: Detailed Technical Information and JORC Table 1

Table 4 Completed and ongoing drillholes at Emmie Bluff Deeps at the time of publication.

HQ3 NQ Collar Collar EOH EOH
HoleID Easting Northing PQ Dip Azi EOH(DD) Dip Azi Comments
DD21EB0018 703586 6555453 160 501 1041.6 -90 000 1041.6 -89 192 Results received
DD21EB0018W1 703586 6555453 501 945.6 -90 000 945.6 -82 277 Results received
DD21EB0018W2 703586 6555453 495 983.9 -90 000 983.9 -74 120 Results received
DD21EB0018W3 703586 6555453 487.6 1048.6 -90 000 1048.6 -77 77 Results Pending
DD21EBD0001 703578 6555923 154.5 374.6 988.1 -80 160 988.1 -83 158 Results Pending
DD21EBD0002 703876 6555356 200.9 400.1 1039.2 -90 000 1039.2 -89 233 Results received
DD21EBD0002W1 703876 6555356 489.3 1492 -90 000 1492 -75 275 Results received
DD21EBD0002W2 703876 6555356 486.1 1300 -90 000 1300 -76 294 Results Pending
DD21EBD0002W3 703876 6555356 496.6 1186 -90 000 1186 -73 348 Results Pending
DD21EBD0002W4 703876 6555356 468.1 1223.3 -90 000 1223.3 -64 118 Results Pending
DD21EBD0003 703638 6555153 200 500.6 1029.1 -80 000 1029.1 -80 19 Results received
DD21EBD0003W1 703638 6555153 498.4 996.2 -80 000 996.2 -74 319 Results Pending
DD21EBD0003W2 703638 6555153 492.1 1088.6 -80 000 1088.6 -74 61 Results received
DD21EBD0003W2A 703638 6555153 524.1 1310.4 -80 000 1310.4 -71 64 Results Pending
DD21EBD0003W3 703638 6555153 471.9 763.5 -80 000 763.5 -69 107 Results Pending
DD21EBD0003W3B 703638 6555153 561.4 1195.4 -80 000 1195.4 -70 111 Results Pending
DD21EBD0004 703977 6555105 54.5 Ongoing -80 225 Ongoing Ongoing Ongoing DrillingOngoing
DD21EBD0005 703333 6555676 Ongoing -70 180 Ongoing Ongoing Ongoing DrillingOngoing

Table 5 Referenced Historic drillholes at Emmie Bluff Deeps

HoleID Easting Northing Dip Azi EOH
IHAD2 705450 6557500 ‐90 0 1158.8
IHAD5 705119 6557882 ‐90 0 1152.8
IHAD6 704806 6558260 ‐90 0 1116.7
MGD 55 704100 6555500 ‐90 0 1107.3
MGD 57 705350 6556700 ‐90 0 1242.9
MGD 68 705002 6554502 ‐90 0 1043.6
MGD 69 703012 6556018 ‐90 0 1076.1
SAE 1 701879 6554852 ‐90 0 818
SAE 3 704379 6555352 ‐90 0 1221
SAE 4 704179 6556172 ‐90 0 1172.5
SAE 5 706029 6557322 ‐90 0 914.4
SAE 6 705029 6556222 ‐90 0 1200
SAE 7 701779 6554402 ‐90 0 1221.7

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E: [email protected] ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

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Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary Commentary
Sampling • Nature and quality of sampling (e.g. cut channels, • Core was logged in the field and approximate metal content was measured at
techniques random chips, or specific specialised industry regular intervals with a portable XRF device at measurement intervals of
standard measurement tools appropriate to the between 1 and 0.5m. Sampling intervals were selected by field geologists
minerals under investigation, such as down hole based on logging and XRF results.
• gamma sondes, or handheld XRF instruments,
etc). These examples should not be taken as
limiting the broad meaning of sampling.
Include reference to measures taken to ensure		 •
•		 Understanding of the mineralising system based on both historical drilling and
previous drilling by Coda, as well as the XRF results, allowed large parts of the
holes to remain unsampled. Typically, sampling is restricted to areas of strong
hydrothermal alteration, particularly haematisation.
The holes have been selectively sampled in order to rapidly send the parts of
sample representivity and the appropriate the hole with the most potential for copper mineralisation to the assay lab for
calibration of any measurement tools or systems rapid turnaround. Additional samples are being prepared for sample
used. submission or have assays pending. These samples cover areas of low
• Aspects of the determination of mineralisation prospectivity (i.e. no logged sulphides or pXRF anomalism) or the granitic
that are Material to the Public Report. basement.
• In cases where ‘industry standard’ work has been • Handheld XRF instruments are extremely susceptible to sampling location bias,
done this would be relatively simple (e.g. ‘reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as where there		 • which can introduce considerable error. For this reason, Coda treats the results
from the handheld XRF as indicative of the presence of metals only and has
chosen not to release the results as they are not considered sufficiently
accurate and may mislead as to the true nature of the intersected material.
Coda’s field personnel prepared the core from all assayed holes for transport
to Adelaide, where it was cut and sampled for assay by Challenger Geological
is coarse gold that has inherent sampling Services.
problems. Unusual commodities or mineralisation • Portable XRF readings were taken in the field using an Olympus Vanta M tool
types (e.g. submarine nodules) may warrant applied directly to the core at either single or half metre intervals, depending
disclosure of detailed information. on prior results or visual identification of potential grade by the field geologist.
The sample was not prepared except by standard cleaning of core by driller’s
offsiders. XRF readings were taken at ambient winter/spring daytime
temperature for Woomera in South Australia, between 10 and 30 degrees
Celsius.

6 Altona Street West Perth Western Australia, 6005

E: [email protected]

==> picture [78 x 78] intentionally omitted <==

ABN 49 625 763 957

==> picture [842 x 84] intentionally omitted <==

  • Criteria JORC Code explanation Commentary • The device was used in 3‐beam mode, scanning for a total of 30, 30 and 20 seconds for the two 40 KV beams and the final 50KV beam respectively. The device is designed to minimise drift over time, and is less than 12 months old, and so has not been calibrated since leaving the factory. The results have not been corrected or otherwise adjusted.

  • • Minor QA/QC is performed during reading, including duplicates and a series of standards and blanks taken at the start of each recording cycle.

  • • Sampled intervals for which assays have been received to date are as follows: HoleID From (m) To (m) Interval (m)

  • DD21EBD0002 872.34 935.93 63.59 DD21EBD0002W1 841 909.57 68.57 DD21EBD0003W2 796.85 864 67.15 DD21EBD0003W2 909.57 955 45.43 DD21EBD0003 894.08 946.03 51.95

  • Drilling • Drill type (e.g. core, reverse circulation, open‐hole • Parent holes were drilled from surface to approximately 160m using PQ techniques hammer, rotary air blast, auger, Bangka, sonic, diamond bits, reducing to HQ3 to approximately 500m, and continued to end etc) and details (e.g. core diameter, triple or of hole using NQ (See Table 52). standard tube, depth of diamond tails, face‐ • Wedge holes were wedged from their parent hole using a casing wedge and sampling bit or other type, whether core is drilled with navigational and standard NQ diamond drilling until appropriate oriented and if so, by what method, etc). dip deviation was achieved, at which point drilling reverted completely to NQ

  • Wedge holes were wedged from their parent hole using a casing wedge and drilled with navigational and standard NQ diamond drilling until appropriate dip deviation was achieved, at which point drilling reverted completely to NQ diamond until EOH. Flexibarrels were used to attempt to increase deviation in some cases.

  • The holes achieved EOH Dips and azimuths as per Table 52 in the main body of the announcement.

  • Core was oriented using an EziMark core orientation tool.

E: [email protected]

==> picture [78 x 78] intentionally omitted <==

6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

==> picture [842 x 84] intentionally omitted <==

Criteria JORC Code explanation Commentary Commentary
Drill sample • Method of recording and assessing core and chip • Recovery of diamond tails while coring was generally excellent, with minimal
recovery sample recoveries and results assessed. core loss, except where navigation drilling was undertaken or wen major
• Measures taken to maximise sample recovery and structures were encountered, wherein minor core loss occurred.
ensure representative nature of the samples. • Core recovery is not possible when navigational drilling is undertaken.
• Whether a relationship exists between sample Navigational drilling was restricted to the Pandurra Formation sediments,
recovery and grade and whether sample bias may which significantly postdate the mineralised basement and are not considered
have occurred due to preferential loss/gain of relevant to the IOCG mineralising system.
fine/coarse material. • No relationship is believed to exist between sample recovery and grade.
Logging • Whether core and chip samples have been • Detailed qualitative geological logging of all diamond core has been carried out
geologically and geotechnically logged to a level of by appropriately trained and experienced field geologists. Quantitative logging
detail to support appropriate Mineral Resource by means of portable XRF has been undertaken on an as needed basis in areas
estimation, mining studies and metallurgical of prospectivity, typically utilising a 1m interval with interval reduction down
studies. to 0.5m in areas of suspected mineralisation.
• Whether logging is qualitative or quantitative in • For the purposes of describing mineral (particularly sulphide) abundance, the
nature.
Core
(or
costean,
channel,		 etc) following descriptors have been used:
photography. Trace:Logged occasionally by field geologists within the logged interval, but
• The total length and percentage of the relevant not sufficient to estimate a percentage. Typically, <0.5% mineral abundance.
intersections logged. Minor:Logged regularly by field geologists but does not make up a
significant amount of the rock volume. Typically <5% mineral abundance.
Moderate:Easily noted and logged by field geologists, makes up a significant
amount of rock volume but is not a dominant component. Estimated to fall
within a range of 5‐15% mineral abundance.
Intense:Very easily noted by field geologists, makes up a significant
percentage of the rock volume and is a dominant component (15 – 50%
mineral abundance).
Volumes beyond 50% would be better represented as massive or near‐total
replacement of host rock rather than expressed as an intensity of alteration
or sulphidation.

6 Altona Street West Perth Western Australia, 6005

==> picture [78 x 78] intentionally omitted <==

E: [email protected] ABN 49 625 763 957

==> picture [842 x 84] intentionally omitted <==

Sub-sampling
techniques
and
sample
preparation
•
If core, whether cut or sawn and whether quarter,
half or all core taken.
•
If non‐core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
•
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
•
Quality control procedures adopted for all sub‐
sampling stages to maximise representivity of
samples.
•
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including
for
instance
results
for
field
duplicate/second‐half sampling.
•
Whether sample sizes are appropriate to the grain
size of the material being sampled.		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123		 •
Sample intervals were defined by field geologists based on portable XRF results
and detailed geological logging.
•
Core was then transported by road to Challenger Geological Services in
Adelaide where the core was cut by means of an Almonte core saw (where
competent enough to do so), or by brick saw where it was not.
•
The results reported in this release relate solely to the portion of the two holes
that was preferentially sampled and fast‐tracked to assay. A total of 385
samples were submitted across both holes, including field duplicates and
standards, which were inserted at a 1:20 and a 1:10 ratio respectively (19 field
duplicates, 39 standards), leaving a total of 327 samples.
•
Core was cut on a sample‐by‐sample basis according to need in the following
manner:
o
Where a field duplicate was not required:½ core for assay, ½ core for
retention by Coda onsite for future review.
o
Where a field duplicatewas required:¼ core for assay, ¼ core for
duplicate assay, ½ core retention by Coda on site for future review.
•
Samples varied in length from 0.2m to 2.14m, with an average of 1.0m per
sample.
•
Field duplicates were taken based on sample numbers ensuring random
selection of mineralised and unmineralised material.
Hole ID
SampleID
From
To
Interval
Cu
Co
Au
Ag
Mo
DD21EBD0002
D21G1279
884.13
885.5 1.37
0.16
29
0.03
-0.2
5
DD21EBD0002
D21G1281
884.13
885.5 1.37
0.14
29
0.02
-0.2
8
DD21EBD0002
D21G1299
903.03
904.14 1.11
0.09
18
0.06
-0.2
6.5
DD21EBD0002
D21G1301
903.03
904.14 1.11
0.04
17
0.01
-0.2
9.5
DD21EBD0002
D21G1319
924.6
925.43 0.83
0.44
90
0.1
0.4
4.5
DD21EBD0002
D21G1321
924.6
925.43 0.83
0.33
79
0.04
0.4
3.5
DD21EBD0002W1
D21G1515
859
859.9 0.9
0.01
63
0.05
0.6
4
DD21EBD0002W1
D21G1517
859
859.9 0.9
0.01
66
0.02
0.6
6.5
DD21EBD0002W1
D21G1535
870.51
870.85 0.34
0.05
12
0.03
0.8
11
DD21EBD0002W1
D21G1537
870.51
870.85 0.34
0.03
12
0.03
1.2
15
DD21EBD0002W1
D21G1555
884.62
884.92 0.3
1.41
21
0.3
0.8
75.5
DD21EBD0002W1
D21G1557
884.62
884.92 0.3
1.31
22
0.3
0.8
123
Hole ID SampleID From To Interval Cu Co Au Ag Mo
DD21EBD0002 D21G1279 884.13 885.5 1.37 0.16 29 0.03 -0.2 5
DD21EBD0002 D21G1281 884.13 885.5 1.37 0.14 29 0.02 -0.2 8
DD21EBD0002 D21G1299 903.03 904.14 1.11 0.09 18 0.06 -0.2 6.5
DD21EBD0002 D21G1301 903.03 904.14 1.11 0.04 17 0.01 -0.2 9.5
DD21EBD0002 D21G1319 924.6 925.43 0.83 0.44 90 0.1 0.4 4.5
DD21EBD0002 D21G1321 924.6 925.43 0.83 0.33 79 0.04 0.4 3.5
DD21EBD0002W1 D21G1515 859 859.9 0.9 0.01 63 0.05 0.6 4
DD21EBD0002W1 D21G1517 859 859.9 0.9 0.01 66 0.02 0.6 6.5
DD21EBD0002W1 D21G1535 870.51 870.85 0.34 0.05 12 0.03 0.8 11
DD21EBD0002W1 D21G1537 870.51 870.85 0.34 0.03 12 0.03 1.2 15
DD21EBD0002W1 D21G1555 884.62 884.92 0.3 1.41 21 0.3 0.8 75.5
DD21EBD0002W1 D21G1557 884.62 884.92 0.3 1.31 22 0.3 0.8 123

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6 Altona Street E: [email protected] West Perth Western Australia, 6005 ABN 49 625 763 957

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Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary
DD21EBD0002W1 D21G1575 897.52 898 0.48 0.82 58 0.22 2.4 115
DD21EBD0002W1 D21G1577 897.52 898 0.48 1.14 57 0.21 2.6 126
DD21EBD0002W1 D21G1595 912.34 913.04 0.7 0.01 43 -0.01 0.2 5.5
DD21EBD0002W1 D21G1597 912.34 913.04 0.7 0.01 41 -0.01 -0.2 8.5
DD21EBD0002W1 D21G1615 926.43 927.65 1.22 0.02 155 0.03 0.6 3
DD21EBD0002W1 D21G1617 926.43 927.65 1.22 0.03 145 0.03 0.4 5
DD21EBD0002W1 D21G1635 940.48 941.4 0.92 0.01 49 -0.01 0.4 1
DD21EBD0002W1 D21G1637 940.48 941.4 0.92 0.01 59 -0.01 -0.2 3.5
DD21EBD0003 D21G1221 905.27 906.63 1.36 0.01 108 0.12 3.6 36
DD21EBD0003 D21G1223 905.27 906.63 1.36 0.01 104 0.12 5 33.5
DD21EBD0003 D21G1241 922.08 923.99 1.91 0.02 121 0.46 1.2 8.5
DD21EBD0003 D21G1243 922.08 923.99 1.91 0.01 81 0.39 0.8 6.5
DD21EBD0003 D21G1261 941.78 942.69 0.91 0 110 -0.01 -0.2 3.5
DD21EBD0003 D21G1263 941.78 942.69 0.91 0 118 0.01 -0.2 6.5
DD21EBD0003W2 D21G2272 796 796.85 0.85 0.01 72 -0.01 0.4 7
DD21EBD0003W2 D21G2274 796 796.85 0.85 0.01 93 -0.01 0.2 8.5
DD21EBD0003W2 D21G2292 811.3 812.3 1 0.78 16 0.19 4 50
DD21EBD0003W2 D21G2294 811.3 812.3 1 0.67 14 0.17 3.6 46.5
DD21EBD0003W2 D21G2312 827 828 1 1.23 17 0.48 25.6 376
DD21EBD0003W2 D21G2314 827 828 1 1.31 19 0.52 16 653
DD21EBD0003W2 D21G2332 843 843.48 0.48 0.01 71 0.18 0.6 14.5
DD21EBD0003W2 D21G2334 843 843.48 0.48 0.01 73 0.15 0.6 22.5
DD21EBD0003W2 D21G2432 923.16 924.15 0.99 2.02 40 0.88 2 145
DD21EBD0003W2 D21G2434 923.16 924.15 0.99 2.24 40 0.61 1.6 127
DD21EBD0003W2 D21G2452 940.07 941 0.93 2.05 47 0.52 3.4 69
DD21EBD0003W2 D21G2454 940.07 941 0.93 1.97 39 0.34 3.4 67

E: [email protected]

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6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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Criteria JORC Code explanation Commentary Commentary
Quality of • The nature, quality and appropriateness of the • Assays of drill core from all holes were undertaken by Bureau Veritas in
assay data and assaying and laboratory procedures used and Adelaide SA.
laboratory
tests		 whether the technique is considered partial or
total.		 • Halved core was crushed, split and pulverised before being digested and
refluxed with a mixture of nitric, perchloric, hydrofluoric and hydrochloric
• For geophysical tools, spectrometers, handheld acids. This extended digest approximates a total digest in most samples.
XRF instruments, etc, the parameters used in • Most elements were determined by ICP‐OES and ICP‐MS, depending on
determining the analysis including instrument accuracy required. The exception was Au, which was determined by fire assay.
make and model, reading times, calibrations • These techniques were determined in consultation with the assay laboratory
factors applied and their derivation, etc. and are consider appropriate for the deposit type.
• Nature of quality control procedures adopted (e.g. • Field duplicates and standards were inserted at a 1:20 and a 1:10 ratio
standards, blanks, duplicates, external laboratory respectively (19 field duplicates and 39 standards over 385 total samples).
checks) and whether acceptable levels of accuracy • Average absolute error for target elements was 152.0 ppm Cu, 8.2 ppm Co,
(i.e. lack of bias) and precision have been 0.013 ppm Au, 0.216 ppm Ag, and 5.34 ppm Mo..
established.
Verification of • The verification of significant intersections by • Significant intersections have been verified against geological logging, portable
sampling and either independent or alternative company XRF results, and have been distributed to field geologists for further review.
assaying personnel. • None of the drillholes reported in this announcement have been twinned in
• The use of twinned holes. the traditional sense, but several are wedges from their parent hole. The
• Documentation of primary data, data entry variation in visual appearance of alteration, mineralisation thickness and
procedures, data verification, data storage intensity between the three holes means that the wedges cannot be used for
(physical and electronic) protocols. verification purposes, except of gross stratigraphy, which is broadly consistent
• Discuss any adjustment to assay data. across
the
holes.
DD21EBD0002W2
was
partially
twinned
by
DD21EBD0003W2A, but assays for that hole have not yet been received.
• Primary drill data was collected digitally by the field geologist using logging
templates in Excel, before being transferred a master Excel database.
• No adjustments have been made to assay data except to composite for
simplicity in this release.

6 Altona Street E: [email protected] West Perth Western Australia, 6005 ABN 49 625 763 957

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Criteria JORC Code explanation Commentary Commentary
Location of
•		 Accuracy and quality of surveys used to locate drill • Drill collar locations (including RL) have been located using handheld GPS, MGA
data points holes (collar and down‐hole surveys), trenches, 94 Zone 53.
mine workings and other locations used in Mineral • Historical drillhole locations have been extracted from the South Australian
Resource estimation. Resources Information Gateway (SARIG).
• Specification of the grid system used. • Precise locations of drillholes will be determined by an independent surveyor
• Quality and adequacy of topographic control. at the completion of the overall drill programme.
Data
spacing
•		 Data spacing for reporting of Exploration Results. • Data to date consists of publicly available historical data and data received by
and • Whether the data spacing and distribution is Coda as part of its ongoing drill programme (See Table 52 and Table 63).
distribution sufficient to establish the degree of geological and • No sample compositing has been applied, except in the reporting of results as
grade continuity appropriate for the Mineral detailed elsewhere in this table.
Resource
and
Ore
Reserve
estimation		 • Coda does not believe that sufficient information exists to estimate a Mineral
procedure(s) and classifications applied. Resource and has not attempted to do so.
• Whether sample compositing has been applied.
Orientation of
•		 Whether the orientation of sampling achieves • To date, Coda does not believe that it has sufficient data to comment on the
data in relation unbiased sampling of possible structures and the orientation of major structures or the overall trend of the mineralisation at
to
geological		 extent to which this is known, considering the Emmie Bluff Deeps, nor the relationship between those features and the
structure deposit type. orientation of its drill holes.
• If the relationship between the drilling orientation • It is anticipated that further drilling will assist in clarifying these questions and
and the orientation of key mineralised structures will allow Coda to comment on their materiality.
is considered to have introduced a sampling bias,
this should be assessed and reported if material.
Sample • The measures taken to ensure sample security. • Samples were taken by representatives of Coda to the transport company’s
security yard in Roxby Downs where they were couriered by truck to Challenger
Geological Services in Adelaide, for core cutting, then on to the assay lab, also
in Adelaide. No additional third party, other than Challenger Geological
Services and the transport company, had access to the samples between the
field and the assay lab.
Audits or
•		 The results of any audits or reviews of sampling • No audits, umpire assays or reviews have yet been undertaken.
reviews techniques and data.
6 Altona Street E: [email protected]
West Perth
Western Australia, 6005 ABN 49 625 763 957

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary Commentary
Mineral • Type, reference name/number, location and • All drilling took place on EL 6265.
tenement and ownership including agreements or material issues • EL 6265 is owned in a 70:30 unincorporated Joint Venture by Coda Minerals
land
status		 tenure with third parties such as joint ventures,
partnerships, overriding royalties, native title		 Ltd and Terrace Mining Pty Ltd (a wholly owned subsidiary of Torrens Mining
Limited).
interests, historical sites, wilderness or national • The tenure is in good standing and is considered secure at the time of this
park and environmental settings. release. No other impediments are known at this time.
• The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
Exploration • Acknowledgment and appraisal of exploration by • Historical exploration of the Emmie Bluff prospect has been undertaken by
done by other other parties. (among others) Mt Isa Mines, Gunson Resources, Torrens Mining and
parties Gindalbie Metals (Coda’s predecessor company).
• With the exception of data from Gindalbie Metals, all historical results used to
guide Coda’s exploration has been obtained from the Geological Survey of
South Australia via the South Australian Resources Information Gateway
(SARIG).
Geology • Deposit type, geological setting and style of • The Elizabeth Creek project, of which Emmie Bluff Deeps is a part, sits in the
mineralisation. Stuart Shelf within the broader Olympic Copper Province in South Australia.
• Emmie Bluff Deeps mineralisation appears to be hosted in metasiltstones and
sandstones of the Paleoproterozoic Wandearah Formation, and appears to be
closely associated with intruded Hiltaba suite granites. Mineralisation consists
of copper sulphides precipitated into these sedimentary units as part of a
complex hydrothermal fluid dominated by iron in the form of haematite.
• Emmie Bluff Deeps mineralisation appears to closely resemble Iron Oxide
Copper Gold mineralisation known from several deposits in the immediate
area such as Olympic Dam and Carrapateena.

6 Altona Street E: [email protected] West Perth Western Australia, 6005 ABN 49 625 763 957

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Criteria JORC Code explanation Commentary Commentary
Drill hole
•		 A summary of all information material to the • See Table 52 and Table 63 in body of announcement.
Information understanding of the exploration results including
a tabulation of the following information for all
Material drill holes:
o
easting and northing of the drill hole collar
o
elevation or RL (Reduced Level – elevation
above sea level in metres) of the drill hole
collar
o
dip and azimuth of the hole
o
down hole length and interception depth
o
hole length.
• If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the case.

E: [email protected]

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6 Altona Street West Perth Western Australia, 6005

ABN 49 625 763 957

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  • Data • In reporting Exploration Results, weighting aggregation averaging techniques, maximum and/or minimum methods grade truncations (e.g. cutting of high grades) and cut‐off grades are usually Material and should be stated.

  • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

  • The assumptions used for any reporting of metal equivalent values should be clearly stated.

E: [email protected]

• • Significant intercepts are reported using a 0.3% Cu cut‐off grade. Calculations of these
intervals take the length weighted average of the assay results using a 0.3% Cu lower
cut‐off grade and allowing no more than 1m of contiguous material of below the 0.3%
• Cu cut‐off grade as internal dilution.
Where >1m of contiguous internal dilution splits a mineralised intersection, the
company may report “anomalous zones” which include the mineralised material and
the internal dilution to better reflect realistic grades in a non‐selective or bulk mining
scenario.
• Where <1m of unmineralized (sub‐0.3% Cu) material separates <1m of mineralised (i.e.
> 0.3% Cu) material at the top or bottom of a larger mineralised intercept, this material
is excluded from aggregation and is reported separately.
• Intervals are rounded to the nearest 10cm for reporting purposes.
• Selection of the 0.3% Cu value as a cut‐off grade was determined based on comparison
with nearby geologically comparable deposits and after considering current
commodity prices. Given the strong correlation between copper and gold, and the lack
of metallurgical test work undertaken on the deposit, no attempt has been made to
calculate a copper equivalent grade.
• Typical example of an aggregate intercept is included below:
DD21EBD0003W2:26.9m @ 1.95% Cu, 0.29 g/t Au, 12.8 g/t Ag and 198 ppm Mo.
From
To
Length
Cu ppm
Au ppm
Ag ppm
Mo pppm
803.45
804.45
1
13800
0.16
4.2
136
804.45
805.45
1
12800
0.08
8.3
171
805.45
805.78
0.33
4130
0.22
2.6
249
805.78
806.41
0.63
25200
0.06
13.6
240
806.41
807.3
0.89
3810
0.34
3.4
454
807.3
808.3
1
15700
0.38
6
254
808.3
809.3
1
14300
0.48
10
87.5
809.3
810.34
1.04
16100
0.45
6.8
103
810.34
811.3
0.96
12500
0.19
20.8
72
811.3
812.3
1
7780
0.29
4
50
812.3
813.3
1
11600
0.4
8.2
48.5

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6 Altona Street West Perth Western Australia, 6005 ABN 49 625 763 957

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Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary
813.3 814 0.7 6010 0.14 10.8 788
814 815 1 8310 0.2 5.2 169
815 816 1 7860 0.2 5.4 246
816 817 1 24900 0.14 16 779
817 818 1 22500 0.11 19.6 88
818 819 1 44000 0.23 31.6 45
819 819.73 0.73 35000 0.34 19.4 54
819.73 820.16 0.43 94800 0.19 62.2 582
820.16 821 0.84 43800 0.29 23.4 240
821 821.93 0.93 26000 0.36 14.6 34
821.93 823 1.07 38700 0.2 23.2 134
823 824 1 23900 0.23 7.6 121
824 825 1 10300 0.32 9 113
825 826 1 17100 0.61 6.6 122
826 827 1 19200 0.48 6.2 216
827 828 1 12300 0.64 25.6 376
828 829 1 19700 0.36 17.6 125
829 830 1 12800 0.34 4.6 110
830 830.37 0.37 10700 0.09 4 102
Relationship
between
mineralisation
widths
and
intercept
lengths
•
These relationships are particularly important in
the reporting of Exploration Results.
•
If the geometry of the mineralisation with respect
to the drill hole angle is known, its nature should
be reported.
•
If it is not known and only the down hole lengths
are reported, there should be a clear statement to
this effect (e.g. ‘down hole length, true width not
known’).		 •
To date, Coda does not believe that it has sufficient data to comment on the
orientation of major structures or the overall trend of the mineralisation at
Emmie Bluff Deeps, nor the relationship between those features and the
orientation of drilling to date, beyond the hypotheses put forward in graphics
and text in the body of the announcement, which remain speculative until
further drilling can be completed.
•
It is anticipated that further drilling will assist in clarifying these questions and
will allow Coda to comment on their materiality.

6 Altona Street West Perth Western Australia, 6005

E: [email protected]

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ABN 49 625 763 957

==> picture [842 x 84] intentionally omitted <==

Criteria JORC Code explanation Commentary Commentary
Diagrams • Appropriate maps and sections (with scales) and • See map, sections and tables in main body of announcement.
tabulations of intercepts should be included for
any significant discovery being reported These
should include, but not be limited to a plan view of
drill hole collar locations and appropriate sectional
views.
Balanced • Where comprehensive reporting of all Exploration • Coda has provided a detailed description of the material encountered and,
reporting Results is not practicable, representative reporting where available, provided representative photographs of relevant
of both low and high grades and/or widths should mineralisation.
be practiced to avoid misleading reporting of • All assays >0.3% Cu are reported in this announcement. Intersects not
Exploration Results. specifically reported on in this announcement can be assumed to be <0.3% Cu.
• Coda believes that this announcement represents an accurate and balanced
reporting of the information it has to date. More information will be made
available to the market as soon as practical upon its receipt by the company.
Other • Other exploration data, if meaningful and material, • No other substantive exploration results are considered relevant to this
substantive should be reported including (but not limited to): release.
exploration
data		 geological
observations;
geophysical
survey
results; geochemical survey results; bulk samples –
size and method of treatment; metallurgical test
results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or
contaminating substances.
Further work • The nature and scale of planned further work (e.g. • Ongoing and planned work in the short term is detailed in the body of the
tests for lateral extensions or depth extensions or announcement. Longer term, Coda will undertake additional drilling as is
large‐scale step‐out drilling). appropriate based on ongoing drill results.
• Diagrams clearly highlighting the areas of possible • From this point, Coda currently anticipates a programme of approximately 4
extensions,
including
the
main
geological		 parent drillholes from surface (including drillholes EBD 4 and 5 which are
interpretations and future drilling areas, provided currently ongoing) and an additional 6 wedges from these and other holes,
this information is not commercially sensitive. with potential for significant additional drilling if warranted by results.
6 Altona Street E: [email protected]
West Perth
Western Australia, 6005 ABN 49 625 763 957

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