Announcement • Jun 24
Cobra Resources plc Announces Further Rare Earth Resource Definition Results At Boland Prospect and Initial Drilling Results from the Head Prospect Cobra Resources PLC has announced further rare earth resource definition results at the Boland Prospect and initial drilling results from the Head Prospect. A total of 74 drillholes (~3,200m) have been drilled at Boland and Head, designed to support an initial Mineral Resource Estimate for the project's unique, controlled aquifer-hosted ionic rare earth element mineralisation which is amenable to low-cost in situ recovery. In addition to the rare earth element assays, favourable results from initial analyses to support acid generation (Net Acid Production Potential estimates) and permeability have been received. These will support the Mineral Resource Estimate inputs as key economic factors. Approximately 80% of drilling results have been received to date, with the remaining results due in the coming weeks. Results add scale to the mineralisation footprint and demonstrate that mineralisation is concentrated within zones of the Boland and Head palaeosystems where Net Acid Production Potential calculations indicate acid generation, which significantly reduces extraction costs. A high-grade continuous ~5km flank has been defined at the Head prospect where mineralisation occurs within three lithologies amenable to in situ recovery: Narlaby formation: a shallow, unconfined, narrow and highly permeable reduced sand; Garford formation: a smectite-rich clay with confined sandy interbeds; Pidinga formation: a confined aquifer of reduced, thick permeable sands with lignite interbeds. Net Acid Production Potential estimates demonstrate acid generation exceeds acid consumption within continuous high-grade zones. Partial results from particle size distribution analysis support productive calculated transmissivity estimates necessary for in situ recovery production. Mineralisation remains open to the north and south. Significant intersections include: CBSC0071 intersected 5.95m at 1,232ppm Total Rare Earth Oxide (287ppm Nd+Pr and 23 ppm Dy+Tb) from 27.8m including 1.45m at 4,186ppm Total Rare Earth Oxide (1,013ppm Nd+Pr and 70 ppm Dy+Tb) from 27.8m; CBSC0074 intersected 6.65m at 636ppm Total Rare Earth Oxide (127ppm Nd+Pr and 16 ppm Dy+Tb) from 26.6m; CBSC0062 intersected 2.17m at 1,783ppm Total Rare Earth Oxide (333ppm Nd+Pr and 67 ppm Dy+Tb) from 30.4m; CBSC0081 intersected 3.8m at 1,322ppm Total Rare Earth Oxide (267ppm Nd+Pr and 25 ppm Dy+Tb) from 26.1m; CBSC0067 intersected 1.06m at 3,607ppm Total Rare Earth Oxide (804ppm Nd+Pr and 84 ppm Dy+Tb) from 18.6m; CBSC0087 intersected 1.15m at 1,574ppm Total Rare Earth Oxide (360ppm Nd+Pr and 28 ppm Dy+Tb) from 18.8m; CBSC0080 intersected 1.3m at 1,211ppm Total Rare Earth Oxide (275ppm Nd+Pr and 25 ppm Dy+Tb) from 36.1m; CBSC0079 intersected 1.8m at 825ppm Total Rare Earth Oxide (166ppm Nd+Pr and 21 ppm Dy+Tb) from 8.7m. Results from a further 12 drillholes from the Head Prospect remain outstanding. Announcement • May 27
Cobra Resources plc, Annual General Meeting, Jun 18, 2026 Cobra Resources plc, Annual General Meeting, Jun 18, 2026. Announcement • May 06
Cobra Resources plc Completes Resource Drilling At Rare Earths Project Cobra Resources plc announced that resource definition drilling has been completed across its Wudinna rare earth prospects, Boland and Head. A total of 74 drillholes (~3,200m) have been drilled at Boland and Head, designed to support an initial Mineral Resource Estimate ("MRE") for the project's unique, controlled aquifer-hosted ionic rare earth element ("REE") mineralisation which is amenable to low-cost in situ recovery ("ISR"). All samples have been submitted for analysis. Initial results from Boland provide encouraging observations for REE ionic mineralisation within the permeable Pidinga and Garford formations, where metallurgy and hydrology and natural acid generating potential support cost-efficient extraction to produce a market leading heavy REE carbonate. Further results are anticipated through the coming months. A total of 32 drillholes were completed at the Boland prospect, where preliminary results from 14 drillholes include: CBSC0016 intersected 5.2m at 1,674 ppm TREO (38.3 ppm Dy2O3 + Tb4O7 ("Dy+Tb") and 363 ppm Nd2O3 + Pr6O11 ("Nd+Pr")) from 26.4m. CBSC0017 intersected 1.7m at 1,755 ppm TREO (34.7ppm Dy+Tb and 374 ppm Nd+Pr) from 26.4m. CBSC0018 intersected 7.2m at 1,751 ppm TREO (39.8ppm Dy+Tb and 363 ppm Nd+Pr) from 14m. CBSC0021 intersected 1.5m at 891 ppm TREO (13.9 ppm Dy+Tb and 209 ppm Nd+Pr) from 31.3m. CBSC0035 intersected 1.1m at 1,004 ppm TREO (34.7 ppm Dy+Tb and 228 ppm Nd+Pr) from 32.6m and 2.2m at 590 ppm TREO (18.2 ppm Dy+Tb and 145 ppm Nd+Pr) from 42m. CBSC0028 intersected 1.5m at 891 ppm TREO (13.9 ppm Dy+Tb and 209 ppm Nd+Pr) from 31.3m. In addition to REE analysis, samples are being analysed for Total Organic Carbon ("TOC") and total sulphide content. Acid is a primary cost of REE extraction. By determining the quantity of acid that can be generated from mineralisation, the Company will be able to model and demonstrate materially lower acid requirements. Management believes the project is on track for bottom quartile production costs. Particle sizing distribution is being performed to calculate permeability. Additional metallurgical analyses will be performed on samples from the Head prospect to support economic assessment. A total of 42 drillholes were completed across the Head prospect, where a strongly reduced ISR recoverable channel has been defined. Further results expected across the next 6-8 weeks. Independent technical consultants are being engaged to support both the MRE and Scoping (Order of Magnitude) Studies. The targeted formations to support ISR recoverable REEs are the Pidinga and Garford formations where permeable sand horizons contain ionic REE mineralisation. The basal sequence of the Pidinga formation is expected to yield the highest productivity. The Garford formation contains distinct interbeds that are yet to be test in laboratory and field hydrology tests, but is considered to deliver the parameters to achieve viable confined aquifer ISR. High-grade mineralisation has been previously recognised on the margins of the incised palaeochannel within a depositional environment that has resulted from system flooding. Whilst this is an important target, broader low-grade zones have previously been encountered within the incised channel where very high (>80%) recoveries have been achieved with very low levels of sulphuric acid. The drilling programme has tested the complete system as economics are expected to be determined by: Heavy REE enrichment- An indication of ionic metallurgy and an enabler of a higher value product. Permeable geology- Enables wellfield spacings to be maximised and reduces ISR timeframes. Metallurgy- Higher ionic portions require less acid, resulting in lower operational costs and a subsequent reduction in impurities. Acid generation- A product of the organic pyrite within the Pidinga and Garford formations that is readily broken down within the ISR process, generating natural sulphuric acid, reducing the amount of sulphuric acid to be sourced externally. All of these properties will be modelled within the MRE and used to inform economic assessment. A north-south trending zone has been defined within drilling that is anticipated to deliver favourable results where the Pidinga formation is heavily reduced and contains lignite interbeds. Sampling techniques: Pre 2023: Historic Rotary Mud drilling targeting paleochannel hosted uranium was completed. Some residue samples were retained in the Tonsley Core Library, downhole geophysical logging was the primary data collected for these holes. Select historic sample residues over Boland were analysed as reported in RNS 1834M (26 April 2024). 2023 Aircore: A combination of 2m and 3m samples were collected in green bags via a rig mounted cyclone. A PVC spear was used to collect a 2-4kg sub sample from each green bag. Sampling commenced from the collar point with samples submitted for analysis from the top of saprolite. Samples were submitted to Bureau Veritas Laboratories, Adelaide and pulverized to produce a 4-acid digest sample. 2024-2025 SONIC: Drill results are outlined in RNS 0297I (25 March 2024). Core was scanned by a SciAps X555 pXRF to determine sample intervals. Intervals through mineralized zones were taken at 10cm. Through waste, sample intervals were lengthened to 50cm. Core was halved by knife cutting. XRF scan locations were taken on an inner surface of the core to ensure readings were taken on fresh sample faces. Samples were submitted to Bureau Veritas Laboratories, Adelaide and pulverized to produce a 4 acid digest sample. Aircore: 1m sample intervals of 2-4 kg were taken via PVC spear from green bags at the rig. All samples collected were submitted to the lab for analysis. From 0-6 m in each hole samples were composited to 3m. Samples were submitted to Bureau Veritas Laboratories, Adelaide and pulverized to produce a 4 acid digest sample. Drilling techniques: Pre 2023: Drill methods include Rotary Mud and AC2023. Drilling completed by McLeod Drilling Pty Ltd. using 75.7mm NQ air core drilling techniques from an ALMET aircore rig mounted on a Toyota Landcruiser 6x6 and a 200psi, 400cfm Sullair compressor. 2024-2026: Sonic Core drilling completed Star Drilling using 4" core with a SDR12 drill rig. Holes were reamed to 6" or 8" to enable casing and screens to be installed. 
