Cobra Resources Plc (LSE:COBR) has advanced its Boland Project in South Australia, aiming for an economic scoping study for ‘in-situ recovery’ (ISR) on its ionic heavy rare earth element discovery.
The company told investors it has expanded its tenement holding to over 3,365 km² and is preparing for resource definition drilling.
"We remain committed to addressing investment risk whilst capitalising on opportunities that our unique style of mineralisation and ISR method of mining enable," managing director Rupert Verco said.
“A large amount of legwork has been done to enable work fronts that will provide valuable news flow over the coming months.”
“The recent addition of three additional tenements provides an unprecedented level of scale that we look forward to testing in the near future.”
Verco added that Cobra was “in the ideal jurisdiction” to rapidly advance ISR mining and we look forward to working with the South Australian Department of Mining and other key stakeholders to advance field trials, which are integral for our economic scoping study planned for later this year."
Cobra noted that recent work includes 445.3 metres of sonic core drilling to test sample accuracy against previous aircore results and ongoing metallurgical optimisation at ANSTO to maximise dysprosium and terbium recoveries.
Results from 395 re-analysed historical drill samples and density tests are expected by July 2025.
The company targets completion of in-field permeability studies by August 2025 to validate in situ recovery mining.