Elizabeth Creek Project Launches Hydro Drilling and Tailings Studies as PFS Advances

Hydrogeological Drilling Targets Water and Mineral Potential

Coda Minerals (ASX:COD) has appointed a hydrogeological drilling contractor to kick off a pivotal programme at Elizabeth Creek in June. The drilling campaign, comprising three production and four monitoring bores, aims to secure future water sources essential for mine planning and regulatory approvals. Notably, one bore at Emmie Bluff will probe for copper mineralisation beyond the current resource boundary, potentially extending the known deposit. This exploratory angle adds a layer of optionality to the project’s development trajectory, complementing the core water supply objectives.

This drilling phase builds on previous geological work, including the intersection of mineralised Tapley Hill Formation black shale in early 2025, which the new monitoring bore will revisit. The programme’s design ensures monitoring bores lie outside anticipated mining impact zones, enabling continuous environmental oversight during operations. Such comprehensive data collection supports multiple workstreams including geotechnical, metallurgical, and tailings management.

Tailings Storage Facility Studies Progress Engineering and Site Selection

Alongside drilling, Coda has engaged specialist consultants to advance detailed engineering and site assessments for the Tailings Storage Facility (TSF). This infrastructure is critical for managing mine waste and meeting environmental standards. The current work deepens earlier scoping study findings, translating conceptual designs into actionable plans that will feed into the Pre-Feasibility Study (PFS) and regulatory submissions.

Environmental Surveys Reveal Encouraging Baseline Conditions

Environmental and ecological baseline surveys have entered their second phase following promising initial findings. Early results indicate no groundwater-dependent ecosystems within the project area that would be adversely affected by mining activities. This outcome could streamline future groundwater and environmental approvals, a significant regulatory hurdle for mining projects. The surveys, conducted over the broader Elizabeth Creek area, also support infrastructure planning and environmental impact assessments.

Lidar and Aerial Surveys Support Infrastructure and Approvals Planning

High-resolution Lidar and aerial surveys are slated to commence concurrently with hydro drilling. These will provide detailed topographical data to inform infrastructure layout, tailings facility design, and environmental management plans. Integrating these datasets early in the PFS stage enhances project design accuracy and regulatory compliance readiness.

Project Scale and Economic Outlook Remain Robust

Elizabeth Creek hosts a substantial mineral inventory, with over 1 million tonnes of contained copper equivalent across its Emmie Bluff, Windabout, MG14, and Cattle Grid South deposits. The Emmie Bluff resource alone contains approximately 510,000 tonnes of copper and 23,000 tonnes of cobalt, with the majority classified as Indicated Resources suitable for mining studies. Recent metallurgical breakthroughs have boosted copper and silver recoveries, underpinning a pre-tax NPV7 of $1.3 billion and a 39% IRR based on previous scoping studies.

Coda’s CEO Chris Stevens highlighted the strategic advantage of advancing a large copper project in South Australia, a jurisdiction noted for its stability. He emphasised that the ongoing field programmes mark important milestones towards development and commercialisation, with a steady stream of technical updates expected in the coming months.

The current work complements Coda’s recent capital raise and drilling campaigns that have maintained momentum amid rising copper and silver prices. The company’s focus on water supply and environmental baselines aligns with the complex regulatory environment, ensuring that approvals and mine planning proceed on solid technical foundations. The inclusion of exploration drilling outside the current resource boundary also offers a potential catalyst for resource growth, a factor that investors will watch closely.

These developments follow a series of technical advances and funding successes, including a $12.33 million capital raise earlier this year and progress through diamond drilling programmes that have confirmed geological models and enhanced project economics. The integration of these studies positions Elizabeth Creek to capitalise on favourable commodity markets and jurisdictional advantages.