Cobra Resources Plc (LSE:COBR) has released results of its recent surveys of the Clarke prospect in Australia.
As a result of the controlled source, audio-frequency magnetotelluric and natural source audio frequency magnetotelluric (CSAMT) surveys, seven additional targets will be tested.
A drill programme is planned for March. The reverse circulation and aircore drilling programmes will be executed in concurrence, designed to expand both gold and rare earth resources.
"The CSAMT survey has enabled us to evaluate and discern differences between mineralised and un-mineralised features,” said Rupert Verco, chief executive of Cobra in a statement.
“We have applied these findings to our regional dataset and have defined several prospective targets that we look forward to testing in our upcoming drilling programmes. RC drilling will focus on adding gold ounces to our resource, where we plan to extend mineralisation at Clarke and test extensions at Barns and White Tank.
"We also plan to execute a regionally extensive aircore programme targeting rare earth resource growth at Clarke and Thompson whilst testing these regional gold targets," he added.