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Cobra rearing on rare earths

26 September 2022 14:09
LSE: COBR
Cobra's Wudinna rare earth project

Cobra Resources have swollen its rare earth footprint at Wudinna from four square kilometres to 22.5 after re-analysis of historic drill holes in South Australia’s Gawler Craton.

The results support expansive rare earth territory, indicative of potential to define a strategically significant resource.

High grade rare earths hosted by desired clays had previously been identified at the project’s Thompson and Anderson prospects, and results continue to build scale, with high proportions of magnet rare earths and mineralisation lying open in most directions.

Host to a defined JORC gold estimate of 211 thousand ounces, Wudinna offers a unique opportunity to become Australia’s only vertically associated gold and rare earths project — and has also revealed high-grade scandium up to 136 grams per tonne.

 

Rare earth results

 

The company said the re-analysis had yielded truly significant value, efficiently generating a dataset to demonstrate an exceptional rare earth opportunity.

“We aim to materially increase existing gold resources, produce bulk samples for rare earth metallurgical testing, and further contribute to a maiden rare earth resource,” chief executive Rupert Verco said.

“This will place Cobra in a position to potentially capitalise on the forecast demand for magnet rare earths from a tier-1 jurisdiction, well serviced by infrastructure and managed by stable governance.”

Next up for Cobra is an RC program next month alongside an expected earn-in milestone, with drilling results expected in November.

COBR’s London Stock Exchange-listed share price was trading at 1.7 British Pence today (2.09 pm UTC+ 8 hours).

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