Cobra Resources PLC (LON:COBR) has completed 138 holes in its geochemistry sampling programme on the Wudinna gold project in South Australia.
The work will aid in confirming the orientation of known mineralisation at the Barns and White Tank prospects ahead of a reverse circulation drilling programme.
A total of up to 976 geochemistry holes are planned, encompassing the Clarke Deposit, Clarke South, the Baggy Green North and South deposits, the Baggy Green Far North deposit, Benaud, Laker and three iron-oxide-copper-gold (IOCG) targets.
This fieldwork is expected to take up to six weeks to complete, with assays expected up to five weeks after the programme has been completed.
Cobra has also applied for a tenement due east and contiguous with the existing Wudinna tenement holdings. The application has been accepted by the South Australian Department of Energy and Mining. Currently known as ELA 2021/00022, the tenement covers an area of 536 square kilometres.
"We are on track for a busy field season,” said Craig Moulton, managing director of Cobra.
“While drilling and lab capacity in Australia are still subject to high demand, we are confident that we can now begin to execute our dual strategy that will continue to build resource inventory while also making exciting new discoveries. We are very excited to start work on our IOCG targets and I look forward to personally returning to the field in the coming weeks to oversee this exciting new phase of Cobra's development of the Wudinna gold project."