Cobra announces drilling results at its Wudinna project

Highlights:

• The strike of intersected gold mineralisation at Clarke now exceeds 600 m and sits outside of the defined 211 000 oz JORC gold resource. Gold intersections include:
  • 6 m at 4.15 g/t gold from 34 m, including 4 m at 5.74 g/t gold from 34 m.
  • 18 m at 0.6 g/t gold from 57 m, including 1 m at 1.80 g/t gold from 58 m and 2 m at 2.16 g/t gold from 68 m.
  • 8 m at 0.6 g/t gold from 58 m, including 2 m at 1.31 g/t gold from 62 m.
• REE mineralisation intersected peripheral to expanded gold strike further supports the company’s dual resource strategy. REE intersections include:
  • 24 m at 1093 ppm total rare earth oxides (TREO) from 26 m, where the magnet rare earth oxides (MREO) equates to 26% of the TREO, including 19 m at 1243 ppm TREO from 29 m (MREO: 26%).
  • 20 m at 683 ppm TREO from 31 m, where the MREO equates to 22% of the TREO, including 2m at 2249 ppm TREO (MREO: 19%).
  • 31 m at 514 ppm TREO from 36 m, where the MREO equates to 22% of the TREO.
  • 21 m at 519 ppm TREO from 13 m, where MREO equates to 23% of the TREO. 
• REE drilling results demonstrate the growth potential of the recently published maiden 20.9 million t REE JORC mineral resource estimate (MRE). 
• Planning is underway to execute 5000 – 10 000 m of drilling scheduled to commence in March 2023, aimed at expanding both REE and gold JORC resources at Clarke, Barns, and Thompson prospects.

Rupert Verco, CEO of Cobra, commented:

“These intersections demonstrate the growth potential of our unique dual resource at the Clarke prospect, where results suggest a significant gold system, overlain by an expanding rare earth resource.

The results of this programme provide an exceptional platform for further exploration success in our upcoming – much larger – drilling programme, which is aimed at expanding both gold and rare earth JORC resources.

A rising gold market, coupled with the demand for ethically and environmentally sourced rare earths, places Cobra in an enviable position as we are poised to grow these geologically and spatially related resources.”

Read the article online at: https://www.globalminingreview.com/mining/17012023/cobra-announces-drilling-results-at-its-wudinna-project/