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Cobra strike rare earth

31 August 2022 14:32
LSE: COBR

Cobra Resources have brought in exceptional grades of rare earth above and around the gold mineralisation at its Wudinna project in South Australia’s Gawler Craton.

The high-grade results provide the critical mass for outlining an emerging rare earth province.

Aircore drilling yielded a length weighted average intersection of 865 parts per million total rare earth oxides, with high-value magnet rare earths comprising nearly a quarter of the basket assemblage alongside low levels of undesirable elements and acid-consuming compounds.

Already host to a 211 thousand ounce defined JORC gold estimate and 22 orogenic targets up to 37.4 grams per tonne lying outside, Wudinna holds the opportunity to become Australia’s only vertically associated gold and rare earth project.

The company said results further validated belief in a high value rare earth jurisdiction, with a technical dataset suggesting success would continue in both quantity and style.

“We expect further results to support the scalability of high grade and thick intersections of REE’s, with the aim of estimating a substantial rare earth resource,” chief executive Rupert Verco said.

“Well positioned in terms of infrastructure, land use and accessibility to capitalise on further exploration success — we believe the multi commodity approach we are taking towards growing a unique mineral inventory at the Wudinna Project is providing our shareholders exposure to an exceptional growth opportunity.”

Cobra expect results from a further 39 holes over regional rare earth and gold prospects and 750 assays over prospective targets to be revealed over the coming month.

Signature rare earth intersections:

  • 18m at 814 ppm TREO from 14 metres, including 2m at 1,226 ppm TREO from 28 metres
  • 23m at 911 ppm TREO from 18 metres, including 9m at 1,391 ppm TREO from 32 metres
  • 8m at 1,421 ppm TREO from 24 metres, including 2m at 3,880 ppm TREO from 24 metres
  • 8m at 880 ppm TREO from 20 metres, including 4m at 1,317 ppm TREO from 24 metres
  • 14m at 834 ppm TREO from 16 metres, including 2m at 2,484 ppm TREO from 18 metres
  • 19m at 642 ppm TREO from 10 metres, including 4m at 1,090 ppm TREO from 10 metres

COBR’s London Stock Exchange listed-share price is currently trading at 1.8 British Pence (2.20 pm UTC+ 8 hours).

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