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Coda Minerals has pocketed $14.4 million from an oversubscribed capital raising, with the company now boasting more than $21 million in cash reserves to fund ongoing exploration in South Australia. Whilst the company has wowed the market in recent weeks with its Emmie Bluff IOCG discovery, Coda continues to build a substantial inventory of copper resources at its Elizabeth Creek project.

Coda Minerals looks to have unearthed a new IOCG discovery at Emmie Bluff in South Australia. The company's maiden drill hole has bulls-eyed over 200 metres of intense hematitic and sulphidic alteration suggesting that Coda may now be probing a massive mineralised system, sending the company's share price skyrocketing, up by more than 235 per cent in daily trade.

Coda Minerals continues to put runs on the board in South Australia, with exploration at its Emmie Bluff copper discovery coming up trumps. Recent drilling has returned assays of 2.05m at 4.09 per cent copper equivalent from 408.95m and 3.49m at 2.22 per cent copper equivalent from 454.2m, with the deposit now extending along 3km of strike.