Rupert Verco, Cobra Resources’ CEO, told Proactive that looking again at assay results from historic holes at its Baggy Green and Clarke prospects at Wudinna had confirmed a significant increase in its rare earths resource.
Some 89 of the holes returned significant intersections with the average width being 15 metres at an average grade of 530 ppm total rare earth oxide.
As these are composite samples, there is also potential for further upgrades, he said, while the geology indicates a correlation between the gold and rare earths mineralisation, especially at Clarke.