Cobra Resources PLC (LSE:COBR) announced the start of aircore drilling at its Wudinna gold/rare earths project in South Australia, the first phase of the company's 2022 field programme.
Aircore drilling - a low disturbance, low-cost technique - will be used ahead of reverse circulation [RC] drilling planned for the third quarter.
"We are exceptionally excited to be drilling once again,” said chief executive Rupert Verco. “The considered approach the company is taking ensures cost efficiency whilst providing high-value multi-element results and de-risking the planned follow-up RC drilling.”
Recent drilling at the project discovered rare earth mineralisation close to and above gold mineralisation.
READ: Cobra Resources says REEs intersected across broad region connecting two prospects at Wudinna
Cobra plans to drill a total of 6,000 metres across 97 holes.
It will drill 37 holes at the Clarke prospect aimed at testing the northern strike of defined gold mineralisation and expanding the current 4 km2 rare earth mineralisation footprint.
A further 12 holes will be drilled over iron oxide copper gold (IOCG) targets 1-3 to test the top of the gravity anomalies.
A total of 13 holes will be drilled across the Barns and White Tank prospects testing resource extensions and the saprolite-hosted rare earth potential.
The remaining holes will be drilled across five additional targets that contain anomalous gold in calcrete, which have geophysical signatures supportive of gold-bearing structures and are considered prospective for rare earth mineralisation.
“This programme is aimed at demonstrating the regional prospectivity for clay hosted rare earths, growing our gold resource and maiden testing our exciting IOCG targets,” said Verco.