Cohiba Minerals Limited: Warriner Creek - Exploration Results

Melbourne, Australia - Cohiba Minerals Ltd. (ASX:CHK) (OTCMKTS:CHKMF) provides the following update in relation to the Warriner Creek Project.

The Warriner Creek Project comprises 2 tenements under exploration licence to TDG, EL 6324 (Areas A and B) and EL 6533, which cover a combined area of 346 km2 over strategic IOCG targets in the Gawler Craton (Figure 1*).

The Warriner Creek prospects are located in the high metamorphic temperature Mount Woods Domain which is a sparsely outcropping domain in the far north Gawler Craton. IOCG (iron ore - copper - gold) style deposits have been discovered in this domain, such as Peak Iron's Peculiar Knob and Cu River Mining's Cairn Hill. Cairn Hill was mined as a magnetite iron ore deposit with accessory copper and gold, and Peculiar Knob is mined as a hematite iron ore deposit. Immediately south of the Mount Woods Domain and 20km south of Warriner Creek West lies Oz Mineral's Prominent Hill copper-gold mine (Figure 2*).

Exploration by Cohiba was focused on IOCG and related skarn style deposits, with a secondary focus on any REE (rare earth element) potential in the area.

WARRINER CREEK EAST

Targeting at Warriner Creek East focussed on an isolated slightly offset magnetic and gravity high, with a scale consistent with a Carrapateena sized geophysical anomaly. Drilling intersected complexly deformed high temperature meta-sediments, and into mafic-intermediate diorite with strong magnetite intrusive at depth (Figure 6*). The strongly magnetic diorite is presumed to be the cause of the magnetic geophysical signature. The fact that the gravity anomaly is offset from the magnetic signature presents the possibility that another dense body is the cause of the gravity anomaly. Brecciation and alteration of IOCG style was not observed.

WARRINER CREEK WEST

Warriner Creek West is adjacent to the Peak Iron IOCG related iron ore mine, and near to Oz Minerals Prominent Hill copper-gold mine. Targeting focused on a shallow magnetic ridge running approximately eastwest through the tenement (Figure 3*). Drilling intersected high temperature meta-sediments and metagranites. A south dipping contact from sandy dominant to muddy dominant meta-sediments exhibited a minor mafic dyke in CHK22WCW01 and a healed breccia in CHK22WCW02 with minor magnetite alteration, and trace chalcopyrite and pyrite (Figure 7*). It is believed that this contact and mafic intrusions along the contact are the cause of the magnetic anomaly.

WARRINER CREEK WEST DRILLING RESULTS

Drill hole CHK22WCW01 returned one low grade copper result and one anomalous rare earth element (REE) result which was converted to total rare earth oxides (TREO). The following results occurred:

- 1m @ 0.93% Cu from 128 - 129m.

- 2m @ 1,053ppm TREO from 139 - 141m.

WARRINER CREEK FARM-IN AGREEMENT

Given the lack of significant copper, gold and rare earth element results from the initial drilling program at Warriner Creek the Company made the decision not to continue with the Farm-In Agreement having met its obligations for the initial stage. The Company sent a formal letter to Tigers Dominion Group outlining its decision not to progress with the Farm-In Agreement.

Cohiba's CEO, Andrew Graham says, "The Warriner Creek Project granted Cohiba the opportunity to drill test two IOCG targets that were identified from historical magnetic and gravity surveys. Whilst there were some anomalous rare earth element intersections and a low-grade copper results these were neither persistent enough nor of sufficient grade to warrant the continuation of the Farm-In Agreement with Tigers Dominion Group (TDG). We appreciated the professionalism with which TDG conducted themselves and the ease of the working relationship. Cohiba will continue to explore additional opportunities as it seeks to expand its footprint in the Gawler Craton as part of its over-arching IOCG strategy. "

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/0JQHWI9K

About Cohiba Minerals Limited:

Cohiba Minerals Ltd. (ASX:CHK) is listed on the Australian Securities Exchange with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The shares of the company trade under the ticker symbol CHK.

The Company recently acquired 100% of the shares in Charge Lithium Pty Ltd, which holds exploration licences in Western Australia.

Source:
Cohiba Minerals Ltd.

Contact:

Andrew Graham CEO admin@cohibaminerals.com.au