Cobra, a gold, rare earth and IOCG exploration company focused on the Wudinna Project in South Australia, has announced rare earth results from Reverse Circulation (RC) and Aircore (AC) drilling, which will support further Rare Earth Elements (REE) resource growth at the Company’s unique and complementary gold and REE resource.
Drilling results demonstrate significant potential for resource extensions in multiple directions, with intervals up to 25 m and Total Rare Earth Oxides (TREO) grades of up to 3568 ppm. Results will be incorporated in a rare earth mineral resource update, which is scheduled to be published once the update to the existing gold Mineral Resource Estimate (MRE) has been completed, expected in the second half of the year.
Highlights:
- CBAC0134: 18 m at 1123 ppm TREO from 21 m, where the Magnet Rare Earth Oxide (MREO) equates to 21% of the TREO, including 3 m at 3568 ppm TREO, where the MREO equates to 21%.
- CBAC0109: 25 m at 739 ppm TREO from 12 m, where the MREO equates to 26%, including 9 m at 1187 ppm TREO, where the MREO equates to 28%.
- CBAC0114: 21 m at 736 ppm TREO from 15 m, where the MREO equates to 24%, including 3m at 1298 ppm TREO, where the MREO equates to 22%.
- CBAC0147: 9 m at 977 ppm TREO from 12m, where the MREO equates to 19%, including 3 m at 1719 ppm TREO, where the MREO equates to 19%.
- CBAC0102: 4 m at 831 ppm TREO from 14 m, where the MREO equates to 28%.
- CBAC0135: 3 m at 1823 ppm TREO from 18 m, where the MREO equates to 22%.
At the Bradman prospect, rare earth enrichment occurs directly in contact with palaeo-channel sediments, where the presence of reduced organic material has the potential to increase the ionic component of mineralisation. Highlight intersections include:
- CBAC0158: 15 m at 946 ppm TREO from 33 m, where the MREO equates to 24%, including 3 m at 1687 ppm TREO, where the MREO equates to 22%.
- CBAC0156: 15 m at 825 ppm TREO from 45 m, where the MREO equates to 25%, including 3 m at 1417 ppm TREO, where the MREO equates to 25%.
- CBAC0149: 9 m at 897 ppm TREO from 54 m, where the MREO equates to 23%, including 6 m at 1076 ppm TREO, where the MREO equates to 23%.
- These results represent 43 of 95 drilled AC holes. Further results from resource expansion drilling and testing of palaeo-channel clays at the Boland prospect remain outstanding.
- Selected samples from this drilling will be used to further advance REE metallurgical studies aimed at defining a viable flow sheet for extraction.
Rupert Verco, CEO of Cobra, commented: “These drilling results confirm the resource growth potential of our unique rare earth resource and will likely inform a significant resource update, establishing Wudinna as a potential tier-1 rare earth project whose unique proximity to gold mineralisation has the potential to contribute favourably to economics. Whilst we eagerly await further drilling results, our focus turns to metallurgical advancement where our progress in mineralogical and ore body characterisation has provided the essential information required to advance recoveries, targeting low cost and environmentally considerate processes. The results also come at a time when the necessity of critical minerals has been further highlighted through the signing of the Climate, Critical Minerals and Clean Energy Transformation Compact between Australia and the US. It is our ambition to advance the project to capitalise on the opportunities that shall arise from this strategic partnership.”