Cobra Resources PLC (LSE:COBR) released results from 32 holes drilled as part of an extensive 91-hole, 4,000m aircore drilling programme at the Wudinna project in South Australia.
The results revealed further extensive clay hosted rare earth elements mineralisation defined across six further target areas, the gold, rare earth and IOCG exploration company said.
"The aircore programme has been highly successful, demonstrating grades, widths, and scalability of a highly desirable magnet rare earths province while confirming further along-strike gold mineralisation at Clarke,” said Rupert Verco, chief executive of Cobra.
“As we extend our knowledge of rare earth mineralisation at the Wudinna project, there are further positive indications for ionic style mineralisation which lends itself to low-cost metallurgical extraction. We eagerly anticipate further rare earth results from the Thompson and Anderson pulp and drillhole re-analyses. We are excited to commence RC drilling later this month aimed at adding gold ounces to our existing resource and defining a potentially significant maiden rare earth resource."
At Thompson, a hole intersected 32 metres at 1,336 parts per million total rare earth oxide (TREO).
Peripheral to the gold resource at Barns, a hole intersected 32 metres at 920 ppm TREO from 24 metres.
At Anderson, a hole intersected eight metres at 2,535 ppm TREO from 18 metres.
At Bradman a hole intersected 10 metres at 869 ppm TREO from 32 metres.
A further 750 assays from 76 historic drillholes are anticipated from prospective rare earth targets at Thompson and Anderson. These results are expected in September.