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Cobra grow Wudinna’s rare earth

12 September 2022 15:06
LSE: COBR
Cobra drilling

Cobra Resources have shown more extensive clay hosted rare earth mineralisation defined across half a dozen further target areas from the final results of its 4000-metre drilling program over the Wudinna project in South Australia.

The results cap off a 91 hole campaign returning exceptional grades up to 1336 parts per million total rare earth oxide — with over two thirds showing grades greater than 500ppm TREO.

Mineralisation occurred within horizons indicative of highly desirable crustal elution or ionic clay hosted rare earths, with elevated intersections of heavy and magnet rare earths holding strong correlation for high and low cost metallurgical recoveries.

The company said it was set for RC drilling aimed at adding ounces to its 211 thousand ounce gold JORC estimate and potentially defining a significant rare earth resource.

“The air-core programme has been highly successful, demonstrating grades, widths, and scalability of a highly desirable magnet rare earth province while confirming further along-strike gold mineralisation at Clarke,” chief executive Rupert Verco said.

Cobra await assays from 76 historic drill holes from its Thompson and Anderson prospects, expected to come in mid-September.

COBR’s London Stock Exchange-listed share price is currently trading at 1.7 British Pence (3:05 pm UTC+ 8 hours).

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