Cobra Resources PLC Wudinna Project Update
June 22 2022 - 2:00AM
RNS Non-Regulatory
TIDMCOBR
Cobra Resources PLC
22 June 2022
22 June 2022
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update
Accelerated Discovery Initiative Funding Secured for Cobra
Clarke Project Advancement
Cobra, a gold, IOCG, and rare earth exploration company focused
on the Wudinna Project in South Australia, announces that it has
been successful in an application for funding through the South
Australian Government's Accelerated Discovery Initiative
("ADI").
Highlights
-- Cobra has been successful in securing A$73,250 of funding
from the South Australian State Government, to advance exploration
and subsequent resource definition at the Clarke prospect
-- Gold mineralisation has been defined across 400m of strike
and is open at depth and to the north. Gold mineralisation is
overlain by clay hosted rare earth mineralisation. Mineralisation
at Clarke sits outside of the project's existing 211,000 oz gold
resource
-- The funding comes under the ADI, aimed at accelerating new
mineral discoveries for key commodities in regional and frontier
provinces in South Australia by fast-tracking new exploration ideas
and techniques
-- The funding will contribute to Controlled Source
Audio-frequency Magnetotelluric (CSMAT) and Loupe TEM geophysical
surveys to improve the definition of structures that control gold
mineralisation and promote the enrichment of Rare Earth Elements
within the saprolite horizon
-- Cobra is one of 13 companies to secure funding, which includes Oz Minerals Ltd and IGO Ltd
Rupert Verco, CEO of Cobra, commented:
"We are pleased to be supported by the South Australian
Government through this funding. The award to Cobra at this stage
carries greater significance than the quantum itself - it
demonstrates recognition of the Company's progress and technical
execution of recent work programmes.
The ADI is an exceptional and highly competitive programme that
drives industry innovation and encourages exploration success. We
would like to thank the Minister for Energy and Mining, Mr
Koutsantonis, and the South Australian Government for their
support."
Enquiries:
Cobra Resources plc via Vigo Consulting
Rupert Verco (Australia) +44 (0)20 7390 0234
Dan Maling (UK)
SI Capital Limited (Joint Broker)
Nick Emerson
Sam Lomanto +44 (0)1483 413 500
Peterhouse Capital Limited (Joint
Broker)
Duncan Vasey
Lucy Williams +44 (0)20 7469 0932
Vigo Consulting (Financial Public
Relations)
Ben Simons
Charlie Neish
Kendall Hill +44 (0)20 7390 0234
About Cobra
Cobra's Wudinna Project is located in the Gawler Craton which is
home to some of the largest IOCG discoveries in Australia including
Olympic Dam, as well as Prominent Hill and Carrapateena. Cobra's
Wudinna tenements contain extensive orogenic gold mineralisation
and are characterised by potentially open-pitable, high-grade gold
intersections, with ready access to nearby infrastructure. Recent
drilling has discovered Rare Earth Mineralisation proximal to and
above gold mineralisation. The grades, style of mineralogy and
intercept widths are highly desirable. In addition, Cobra has over
22 orogenic gold prospects, with stand-out grades of 16 g/t up to
37.4 g/t gold outside of the current 211,000 oz JORC Mineral
Resource Estimate, as well as one copper-gold prospect, and five
IOCG targets.
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