Coda Minerals (ASX:COD) has resumed its major drilling program at the Elizabeth Creek Copper-Silver Project in South Australia following the holiday break.
The three-rig, 6,000–7,000 metre diamond drilling campaign at the flagship Emmie Bluff deposit is now around 70% complete, with six of twelve planned holes finished and two others well advanced.
Drilling at the MG14 and Windabout deposits has been completed, and core samples from the first batch have been submitted to Adelaide laboratories for assay and geotechnical testing, with the remainder expected later this month.
The ongoing program supports Coda’s pre-feasibility study, providing critical data for resource definition, metallurgical sampling, and geotechnical analysis.
The most recent scoping study estimated a pre-tax NPV(7) of approximately $1.3 billion and an IRR of 39%, with copper and silver prices now significantly higher than the assumptions used, highlighting substantial potential upside.