Cobra Resources PLC Contract Signed for RC Drilling Rig (7562K)
06 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMCOBR
RNS Number : 7562K
Cobra Resources PLC
06 September 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK
LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS
(SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
6 September 2021
Cobra Resources plc
("Cobra" or the "Company")
Contract Signed for Reverse Circulation Drilling Rig
Cobra, a gold exploration company focused on the Wudinna Gold
Project in South Australia, is pleased to provide the following
updates regarding its 2021 work programme.
-- Geochemical Saprolite drilling at Wudinna is nearing
finalisation. Geochemical returns are being compiled and drill
targets prioritised.
-- Bullion Drilling Pty Ltd ("Bullion Drilling") has been
appointed to undertake a 4,000m Reverse Circulation ("RC") drilling
programme at the Wudinna Gold Project. Drilling is scheduled to
commence around mid-October.
-- The RC drilling programme will target:
o Strike extensions of the 31m at 3.06g/t Au intersected at the
Clarke Prospect
o Extensions to the gold lodes at the Barns Prospect
o Extensions to several gold intercepts at the Baggy Green
Prospect
o Anomalous silver mineralisation (5-12ppm from 2m depth)
discovered by geochemical drilling near the Baggy Green
Prospect.
-- Gravity surveying will shortly be undertaken to detail three
magnetic and geochemically anomalous features considered
prospective for the discovery of Iron Oxide Copper Gold ("IOCG")
mineralisation. The Gawler Craton - in which the Wudinna Gold
Project is located - hosts several mature IOCG projects including
BHP's Olympic Dam and has yielded recent discoveries such as Oak
Dam and Emmie Bluff.
-- Contingent upon the results of the gravity survey, RC
drilling will also test one or more of the IOCG targets.
Rupert Verco, CEO, commented:
"Engaging a highly experienced drilling contractor such as
Bullion Drilling within the current competitive market is an
excellent result for Cobra. Bullion Drilling's track record gives
us confidence that we can deliver results on our priority targets
safely, timely and cost effectively.
"Cobra is pleased to report that the 2021 work programme
continues to run in line with our indicative schedule given earlier
this year.
"We look forward to strategically increasing our gold resource
and further defining the Wudinna Projects prospectively for IOCG
mineralisation."
Enquiries:
Cobra Resources plc via Vigo Consulting
Rupert Verco (Australia) +44 (0)20 7390 0234
Dan Maling (UK)
SI Capital Limited (Joint Broker)
Nick Emerson
Sam Lomanto +44 (0)1483 413 500
Peterhouse Capital Limited (Joint
Broker)
Duncan Vasey
Lucy Williams +44 (0)20 7469 0932
Vigo Consulting (Financial Public
Relations)
Ben Simons
Fiona Hetherington
Kendall Hill +44 (0)20 7390 0234
The person who arranged for the release of this announcement was
Rupert Verco, CEO of the Company.
About Cobra
Cobra's Wudinna Gold Project is located in the Gawler Craton
which is home to some of the largest IOCG discoveries in Australia
including Olympic Dam, as well as Prominent Hill and Carrapateena.
Cobra's Wudinna tenements contain extensive orogenic gold
mineralisation and are characterised by potentially open-pitable,
high-grade gold intersections, with ready access to nearby
infrastructure. In total Cobra has over 22 orogenic gold prospects,
with grades of between 16 g/t up to 37.4 g/t outside of the current
211,000 oz JORC resource, as well as one copper-gold prospect, and
four IOCG targets.
Wudinna Project Description
The Eyre Peninsula Gold Joint Venture comprises a 1,928 km(2)
land holding in the Gawler Craton. The Wudinna Gold Project within
the Joint Venture tenement holding comprises a cluster of gold
prospects which includes the Barns, White Tank and Baggy Green
deposits.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTFLFIFADIEIIL
(END) Dow Jones Newswires
September 06, 2021 02:00 ET (06:00 GMT)
Cobra Resources (LSE:COBR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Cobra Resources (LSE:COBR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024