12th May 2025 14:22
(Alliance News) - Cobra Resources PLC on Monday said it has completed a ten-hole 423 metre sonic core drilling programme at its Boland project in South Australia.
The mining company said all holes intersected the target Pidinga formation, which has coarse sands containing fine organics that host ionic rare earth element mineralisation with the potential for in situ recovery mining.
Cobra said intersections of the mineralisation horizon were between one and three metres, and that metallurgy samples have been collected and submitted for analysis. It expects those results later this month, with the full assay results due in early June.
Also, Cobra said two more wells were installed to support a planned field permeability study and a future pilot study.
"We are pleased to have completed sonic core drilling at Boland and thank Star Drilling for their services during the programme," commented Managing Director Rupert Verco. "This work is a key step in our strategy to deliver a rare earth Mineral Resource Estimate at Boland this year, and we look forward to announcing the full results of the drill programme once samples have been prepared for optimisation metallurgy by [Australia's Nuclear Science & Technology Organisation]."
He continued: "Members of the Commonwealth Scientific and Industrial Research Organisation ('CSIRO') team have also been with us in the field as they work on a programme focused on strengthening the supply of critical minerals in Australia.
"CSIRO have collected samples from both our sonic and aircore drilling programmes which will be used to help characterise our unique geology and mineralogy at Boland, informing our pathway towards ISR-supported rare earth production."
Shares in Cobra were trading 0.4% higher at 1.23 pence each in London on Monday afternoon.
By Emma Curzon, Alliance News reporter
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