Cobra Resources PLC Wudinna Project Update: Clarke Assay Results (3385H)
03 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMCOBR
RNS Number : 3385H
Cobra Resources PLC
03 December 2020
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3 December 2020
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update:
Clarke Gold Deposit Assay Results
Cobra, the gold exploration and mining company focused on the
Wudinna Gold Project in South Australia, is pleased to announce
significant high-grade gold intercepts at the Clarke deposit,
including 5.2 g/t gold over a 15m intersection. These results are
associated with the three reverse circulation (RC) holes (totalling
409m) which were drilled at the Clarke deposit and are included in
the initial assay results to be returned from the Company's recent
drilling programme.
The Clarke deposit is located approximately 1.75 km north of the
current Baggy Green resource and this mineralisation is not yet
included in the current Wudinna Project JORC resource base. The
three holes were drilled approximately 60m north of the existing
mineralisation at Clarke to test and define the continuity and
orientation of the mineralisation.
Significant gold intercepts (greater than 1g/t) at Clarke
include:
Hole CBRC009 31m at 3.06 g/t from 69m incl. 4m at 3.18 g/t, 1m
at 1.21 g/t and 15m at 5.25 g/t
Hole CBRC008 2m at 1.4 g/t from 34m
--------------------------------------------------
Hole CBRC008 15m at 1.4 g/t from 43m including 4m at 4.19 g/t
--------------------------------------------------
Hole CBRC008 1m at 1.17g/t from 63m
--------------------------------------------------
Hole CBRC008 4m at 1.33 g/t from 80m including 1m at 2.49g/t
--------------------------------------------------
Hole CBRC007 4m at 1.06 g/t from 63m including 1m at 2.91 g/t
--------------------------------------------------
Hole CBRC007 4m at 2.34 g/t from 76m including 1m at 6.42 g/t
--------------------------------------------------
The Clarke deposit assay results represent approximately 20 per
cent of the total assay results awaited from the programme. The
Company continues to await assay results from drilling at the Baggy
Green, Baggy Green North, Barns and White Tank deposits which are
now expected to be received between late December 2020 and early
January 2021.
Craig Moulton, Director of Cobra, commented:
"Given we still have 80 per cent of the assay results still to
come, we are very excited about these initial high-grade
intersections at Clarke which have positive indications for the
future of the Wudinna Project. The substantial 31m intersection has
been intersected north of mineralisation previously drilled at
Clarke. It is apparent that extensions down dip and along strike
from this intersection represent a high priority target for a
future drilling programme.
It is important to remember that there are currently no
resources estimated for Clarke and so we now have the potential for
a new resource zone some 1.75 km north of that existing at Baggy
Green."
A PDF version of the announcement, inclusive of images, can be
accessed via the link below:
http://www.rns-pdf.londonstockexchange.com/rns/3385H_1-2020-12-2.pdf
End
Enquiries:
Cobra Resources plc
Craig Moulton (Australia)
Dan Maling (UK) +44 (0)20 7390 0234
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 Communications (Financial Public Relations)
Ben Simons
Simon Woods +44 (0)20 7390 0234
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 16g/t up to 37.4g/t outside of the current
211,000 oz JORC resource, as well as one copper-gold prospect, and
four IOCG targets.
Competent Person Statement
Technical information in this announcement has been reviewed by
Craig Moulton, the Company's Managing Director. Craig has 27 years'
experience in the industry, having worked for Rio Tinto, Cleveland
Cliffs and Wood Mackenzie, and is a trained Geologist and Mineral
Economist. Craig holds a BSc Hons (Geology), MSc (Min Econs),
MAusIMM, FGS.
The person who arranged for the release of this information is
Craig Moulton, the Company's Managing Director.
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