Cohiba Minerals has signed a Farm-In Agreement with Tigers Dominion Group to earn up to a 51% interest in the Warriner Creek Project in the Gawler Craton.
TDG is a subsidiary of the unlisted public junior explorer, White Tiger Resources.
The Warriner Creek Project comprises two exploration licences, EL 6324 (Areas A and B) and EL 6533, which cover a combined area of 346 km2 over strategic iron-oxide-copper-gold (IOCG) targets in the Gawler Craton.
The Warriner Creek Project is an attractive, low risk option for Cohiba. It aligns perfectly with the company’s Gawler Craton IOCG focus and the initial exploration drilling requires only two relatively modest depth holes, prior to committing to more material expenditure.
The tenements lie within a north-west trending structural corridor and exhibit coincident gravity and magnetic anomalies similar to those found in other IOCG deposits within the highly prospective Olympic Domain, such as the world-class Olympic Dam deposit.
Cohiba CEO Andrew Graham said the Warriner Creek Project presented itself as a strategic opportunity and, following significant investigation, it was determined that this project would greatly complement the company’s existing IOCG portfolio.
The company remains absolutely committed to its exploration programs at Horse Well, Pernatty C and Lake Torrens and regards the Warriner Creek Project as a great addition to the group.
“With an ever-increasing awareness of the prospectivity of the region, IOCG target areas are at a premium and as such it was considered timely to enter into this Farm-In Agreement and secure the right to explore,” Mr Graham said.
