5th May 2022 20:12
Cobra Resources PLC - Wudinna gold project in South Australia - Reports results from stage 2 and 3 re-analysis of a further 96 drillholes from historic drilling at the Baggy Green and Clarke prospects. Says rare earth elements intersected across a broad region connecting the Baggy Green and Clarke prospects, extending the defined REE mineralisation footprint at Wudinna to approximately 4 kilometres, with mineralisation open in multiple directions. At a 350 parts per million total rare earth oxidecut-over grade, 85 holes produced significant intersections where the average grade was 530 ppm TREO over an average true width of intersection of 15.4 metres. Metallurgical test work is underway.
"The coverage of REE results across Clarke and Baggy Green will favourably contribute to a maiden REE resource estimation, whilst the trending higher grades towards the north of Clarke provide a compelling exploration target that will be drilled for both gold and REE extensions in the Company's upcoming drilling programme," says Chief Executive Rupert Verco.
Current stock price: 2.72 pence, up 6.7% on Thursday
12-month change: up 33%
By Lucy Heming; [email protected]
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