お知らせ • Feb 07
Cobra Resources plc Provides Wudinna Project Update
Cobra announced additional results from the Company's recent 14-hole phase of Reverse Circulation ("RC") drilling on the Clarke prospect. The Company is pleased to report: Further gold mineralisation has been intercepted within the northern drill transect confirming the potential for a significant gold mineral system at Clarke, Additional Rare Earth Elements ("REE") have been intercepted above and proximal to gold interceptions. The Board considers the discovery of critical REEs overlaying gold mineralisation to be significant, with grades and intercept widths (summarised further below) comparable to other rare earth projects of considerable market value. This discovery now exposes Cobra to multiple high value commodities. Highlights: Fire assay results for gold have now been received for all holes in the recent phase of drilling on the Clarke prospect, multi-element and rare earth results are outstanding for a single hole. CBRC0050 intercepted 33m at 1.03 g/t gold from 65m, including 9m at 2.09 g/t gold from 65m, Gold mineralisation has now been intercepted over 400m of strike at Clarke with mineralisation open to the northwest of CBRC0050 All holes intercepted rare earth mineralisation within the saprolite zone, where: The average true width of mineralisation is 18.7m and the average Total Rare Earth Oxides ("TREO") is 597 ppm2, High-grade intervals exist within the intercepts, where drillhole CBRC0044 intercepted a true width of 9.4m at 1,030 ppm TREO, CBRC0043 intercepted a true width of 4.7m at 1,160 ppm TREO and CBRC0054 intercepted 6m at 1,446 ppm TREO, The highest 1m intercept grade was 9,024 ppm TREO in CBRC0048, Intercepts are enriched in high value rare earths where neodymium/praseodymium equate to 21.5% of the TREO and dysprosium equates to 2.2%, Rare earth mineralisation intercepts are low in uranium (6 ppm average) and thorium (28 ppm average), a favourable attribute of Ion Adsorbed Clay ("IAC") rare earth deposits, Results support the likelihood of rare earths overlaying gold mineralisation at Barns and Baggy Green as well, Preliminary results from X-ray diffraction ("XRD") performed by the Commonwealth Scientific and Industrial Research Organisation ("CSIRO") demonstrates that mineralisation is supportive of REEs being adsorbed to clay mineralogy, The discovery of critical REEs overlaying gold mineralisation at Clarke is significant, with grades and intercept widths comparable to other IAC hosted rare earth projects of considerable market value, Rare earth mineralisation is open to the north, south, east, and west of current drilling, REE intercepts confirmed above previously reported gold intercepts3, including: CBRC0042 intercepted 8.2m at 561 ppm TREO from 38.1m below surface, which is above the previously reported 19m at 0.79 g/t gold from 83m, including 5m at 2.62 g/t gold from 95m, CBRC0043 intercepted 19.7m at 569 ppm TREO from 31m below surface, including 4.7m at 1,160 ppm TREO from 38.5m below surface. This is in association with the 96m at 0.55 g/t gold from 30m, including 20m at 1.5 g/t gold from 88m, CBRC0044 intercepted 19.7m at 717 ppm TREO from 31m, including 9.4m at 1030 ppm TREO from 33m, CBRC0050 intercepted 4.7m at 380 ppm TREO from 15m and 3.8m at 456 ppm TREO from 48m below surface. This is above the 33m at 1.03 g/t gold from 65m, including 9m at 2.09 g/t, Additional rare earth results proximal to gold mineralisation at Clarke include: CBRC0046 intercepted 40.4m at 669 ppm TREO from 19.7m, including 14.1m at 852 ppm TREO from 19.7m and 9.4m at 830 ppm TREO from 47.9m, CBRC0048 intercepted 34.8m at 629 ppm TREO from 18.8m, including 0.9m at 9,024 ppm TREO,CBRC0045 intercepted 22.6m at 638 ppm TREO from 31m, including 2.8m at 993 ppm TREO, 1.9m at 1,972 ppm TREO and 2.8m at 1,053 ppm TREO, CBRC0047 intercepted 9.4m at 682 ppm TREO from 18.8m, including 2.8m at 1,322 ppm TREO, CBRC0051 intercepted 7.5m at 783 ppm TREO from 14.1m, including 1.9m at 1,447 ppm TREO, CBRC0052 intercepted 22.6m at 435 ppm TREO from 16.9m below surface, CBRC0054 intercepted 16m at 920 ppm TREO from 16.9m below surface, including 5.6m at 1,446 ppm TREO.