TIDMCOBR
RNS Number : 3853M
Cobra Resources PLC
21 January 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE
INFORMATION 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.
21 January 2021
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update:
Barns / White Tank 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 and high-grade gold intercepts at the Barns and White
Tank deposits, including:
-- 3.25 g/t gold over 13m, including 33.60 g/t gold over 1m with 7.25 g/t silver and 1.71% copper - hole CBRC0027
-- 8 g/t gold over 3m, including a peak intercept of 23.10 g/t gold and 20.00 g/t silver - hole CBRC0029
-- 6.28 g/t gold over 5m including 2m at 14.78 g/t - hole CBRC0029
-- Seven holes returned gold intercepts greater than 5 g/t, with hole CBRC0029 returning three 1m intercepts of 13.7
g/t, 15.85 g/t and 23.1 g/t gold
-- Hole CBRC0029 also returned the highest silver intercept in the project to date of 20 g/t silver, associated with
the 23.1 g/t gold intercept above
-- Hole CBRC0027 returned the highest copper intercept in the project to date of 1.71% copper, associated with a
gold assay of 33.6 g/t gold
The Barns JORC resource is currently estimated at 104,000 oz,
and the White Tank Resource at 13,000 oz. The objective of the
drilling programme was to provide detailed structural and
geochemical data, with the aim of confirming the orientation and
continuity of the resource, and to enable the growth of the
resource base. A total of 19 Reverse Circulation (RC) holes were
drilled in and around the Barns JORC resource zone for a total of
3,177m, with all but three holes returning mineralised intercepts
of greater than 0.3 g/t of gold.
Summary of standout drill intercepts at Barns / White Tank
include:
-- CBRC0027 - 13m at 3.25 g/t gold from 151m including a 1m intercept at 33.60 g/t gold, 7.25 g/t silver and 1.71%
copper from 158m
-- CBRC0029 - 5m at 6.28 g/t gold from 28m, including 2m at 14.78 g/t gold from 30m
-- CBRC0029 - 9m at 2.13 g/t gold from 38m, including 5m at 3.00 g/t gold from 41m
-- CBRC0029 - 3m at 8.00 g/t gold and 7.43 g/t silver from 87m including a 1m intercept at 23.10 g/t gold and 20.00
g/t silver from 88m
-- CBRC0028 - 25m at 0.91 g/t gold from 138m, including 2m at 2.74 g/t gold and 1.72 g/t silver from 138m and 14m at
1.08 g/t gold and 0.36 g/t silver from 174m
-- CBRC0025 - 5m at 3.02 g/t gold and 0.54 g/t silver from 117m, including 2m at 7.04 g/t gold and 1.21 g/t silver
from 120m
-- CBRC0026 - 6m at 2.30 g/t gold and 0.74 g/t silver from 85m, including 1m at 8.72 g/t gold and 2.51 g/t silver,
and 1m at 2.84 g/t gold and 1.24 g/t silver from 88m
-- CBRC0041 - 3m at 4.08 g/t gold from 112m, including 1m at 9.70 g/t gold from 112m
-- CBRC0023 - 2m at 3.03 g/t gold and 1.04 g/t silver from 79m, including 1m at 5.40 g/t gold and 1.89 g/t silver
from 79m
A full summary of mineralised gold intercepts from Barns / White
Tank follows in the appendix.
These results are in addition to the 5.25 g/t of gold over 15m
from Clarke announced last month and complete the awaited assays
from the 2020 drilling programme. Analysis of these data is
underway and will inform an updated geological interpretation of
the existing resources at Baggy Green and Barns, as well as the
future potential to define a maiden resource at Clarke. This
information will also form the basis for the Company's 2021
exploration programme, with updates to be provided in due
course.
Craig Moulton, Director of Cobra, commented:
"I'm thrilled with these results. Against any metric, results
such as 3.25 g/t over 13m, 6.28 g/t over 5m and 8 g/t over 3m are
incredibly exciting. It shows that, as we continue to methodically
execute our strategy of applying sound industry-leading science,
the Wudinna project continues to deliver.
Also, it will be very interesting to understand whether these
new silver and copper results represent an additional value
dimension to the project. The team is now fully focused on
extracting every ounce of value from these data, updating our
models, and finalising our plans for the 2021 programme. We look
forward to keeping the market informed as the project continues to
develop."
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.
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.
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.
Appendix
A PDF version of this announcement including figures and JORC
2012 information can be found here:
http://www.rns-pdf.londonstockexchange.com/rns/3853M_1-2021-1-20.pdf
Summary of mineralised gold intercepts from Barns / White
Tank
Prospect Hole ID From To (m) Interval Gold Silver
(m) (m) (g/t) (g/t)
Barns CBRC0023 67 70 3 0.60 0.49
---------- ----- ------- --------- ------- -------
Barns CBRC0023 75 77 2 0.86 0.58
---------- ----- ------- --------- ------- -------
Barns CBRC0023 79 81 2 3.03 1.04
---------- ----- ------- --------- ------- -------
Barns Incl. 79 80 1 5.40 1.89
---------- ----- ------- --------- ------- -------
Barns CBRC0023 84 85 1 0.74 0.06
---------- ----- ------- --------- ------- -------
Barns CBRC0023 87 89 2 0.60 0.23
---------- ----- ------- --------- ------- -------
Barns CBRC0024 108 109 1 0.59 0.19
---------- ----- ------- --------- ------- -------
Barns CBRC0024 119 120 1 0.77 0.33
---------- ----- ------- --------- ------- -------
Barns CBRC0025 35 41 6 0.57 0.08
---------- ----- ------- --------- ------- -------
Barns Incl. 38 39 1 1.03 0.06
---------- ----- ------- --------- ------- -------
Barns CBRC0025 117 122 5 3.02 0.54
---------- ----- ------- --------- ------- -------
Barns Incl. 120 122 2 7.04 1.21
---------- ----- ------- --------- ------- -------
Barns CBRC0025 159 161 2 1.20 0.07
---------- ----- ------- --------- ------- -------
Barns Incl. 160 161 1 1.47 0.06
---------- ----- ------- --------- ------- -------
Barns CBRC0025 164 166 2 0.69 0.17
---------- ----- ------- --------- ------- -------
Barns CBRC0025 174 176 2 1.79 0.34
---------- ----- ------- --------- ------- -------
Barns Incl. 175 176 1 2.81 0.55
---------- ----- ------- --------- ------- -------
Barns CBRC0026 56 57 1 1.41 0.39
---------- ----- ------- --------- ------- -------
Barns CBRC0026 85 91 6 2.30 0.74
---------- ----- ------- --------- ------- -------
Barns Incl. 86 87 1 8.72 2.51
---------- ----- ------- --------- ------- -------
Barns Incl. 88 89 1 2.84 1.24
---------- ----- ------- --------- ------- -------
Barns CBRC0026 184 185 1 1.23 0.41
---------- ----- ------- --------- ------- -------
Barns CBRC0027 50 68 18 1.01 0.38
---------- ----- ------- --------- ------- -------
Barns Incl. 50 51 1 2.82 1.38
---------- ----- ------- --------- ------- -------
Barns Incl. 55 57 2 6.05 2.22
---------- ----- ------- --------- ------- -------
Barns Incl. 64 65 1 1.17 0.20
---------- ----- ------- --------- ------- -------
Barns Incl. 66 68 2 0.75 0.14
---------- ----- ------- --------- ------- -------
Barns CBRC0027 137 138 1 2.44 0.18
---------- ----- ------- --------- ------- -------
Barns CBRC0027 151 188 37 1.38 0.35
---------- ----- ------- --------- ------- -------
Barns Incl. 151 164 13 3.25 0.69
---------- ----- ------- --------- ------- -------
Barns Incl. 158 159 1 33.60 7.25
---------- ----- ------- --------- ------- -------
Barns Incl. 174 181 7 1.08 0.39
---------- ----- ------- --------- ------- -------
Barns CBRC0028 107 108 1 1.00 0.21
---------- ----- ------- --------- ------- -------
Barns CBRC0028 122 125 3 0.60 0.17
---------- ----- ------- --------- ------- -------
Barns Incl. 123 124 1 1.17 0.12
---------- ----- ------- --------- ------- -------
Barns CBRC0028 138 163 25 0.91 0.39
---------- ----- ------- --------- ------- -------
Barns Incl. 138 140 2 2.74 1.72
---------- ----- ------- --------- ------- -------
Barns Incl. 147 161 14 1.08 0.36
---------- ----- ------- --------- ------- -------
Barns CBRC0029 28 33 5 6.28 0.14
---------- ----- ------- --------- ------- -------
Barns Incl. 30 32 2 14.78 0.20
---------- ----- ------- --------- ------- -------
Barns CBRC0029 38 47 9 2.13 0.15
---------- ----- ------- --------- ------- -------
Barns Incl. 38 40 2 1.44 0.07
---------- ----- ------- --------- ------- -------
Barns Incl. 41 46 5 3.00 0.21
---------- ----- ------- --------- ------- -------
Barns CBRC0029 48 49 1 2.06 0.24
---------- ----- ------- --------- ------- -------
Barns CBRC0029 64 65 1 0.63 0.15
---------- ----- ------- --------- ------- -------
Barns CBRC0029 71 72 1 0.77 0.43
---------- ----- ------- --------- ------- -------
Barns CBRC0029 87 90 3 8.00 7.43
---------- ----- ------- --------- ------- -------
Barns Incl. 88 89 1 23.10 20.00
---------- ----- ------- --------- ------- -------
Barns CBRC0029 93 94 1 0.56 0.14
---------- ----- ------- --------- ------- -------
Barns CBRC0029 101 103 2 0.61 0.11
---------- ----- ------- --------- ------- -------
Barns CBRC0029 138 144 6 1.71 0.73
---------- ----- ------- --------- ------- -------
Barns Incl. 139 140 1 1.27 0.35
---------- ----- ------- --------- ------- -------
Barns Incl. 143 144 1 6.74 2.89
---------- ----- ------- --------- ------- -------
Barns CBRC0029 148 152 4 2.65 1.23
---------- ----- ------- --------- ------- -------
Barns Incl. 150 151 1 8.76 2.80
---------- ----- ------- --------- ------- -------
Barns CBRC0030 41 43 2 0.57 0.11
---------- ----- ------- --------- ------- -------
Barns CBRC0030 106 107 1 1.12 0.38
---------- ----- ------- --------- ------- -------
Barns CBRC0030 116 117 1 2.42 1.28
---------- ----- ------- --------- ------- -------
Barns CBRC0030 147 149 2 0.56 0.26
---------- ----- ------- --------- ------- -------
Barns CBRC0031 160 162 2 1.13 0.32
---------- ----- ------- --------- ------- -------
Barns Incl. 161 162 1 1.56 0.29
---------- ----- ------- --------- ------- -------
Barns CBRC0032 136 138 2 1.39 0.28
---------- ----- ------- --------- ------- -------
Barns CBRC0032 148 155 7 1.20 0.76
---------- ----- ------- --------- ------- -------
Barns Incl. 151 154 3 2.34 1.34
---------- ----- ------- --------- ------- -------
Barns CBRC0034 163 165 2 1.22 0.18
---------- ----- ------- --------- ------- -------
Barns Incl. 163 164 1 2.02 0.25
---------- ----- ------- --------- ------- -------
Barns CBRC0036 51 55 4 0.56 0.01
---------- ----- ------- --------- ------- -------
Barns CBRC0039 56 57 1 0.59 0.06
---------- ----- ------- --------- ------- -------
Barns CBRC0039 64 66 2 1.06 0.08
---------- ----- ------- --------- ------- -------
Barns Incl. 65 66 1 1.46 0.13
---------- ----- ------- --------- ------- -------
Barns CBRC0039 78 79 1 0.63 0.24
---------- ----- ------- --------- ------- -------
Barns CBRC0040 55 57 2 0.52 0.10
---------- ----- ------- --------- ------- -------
Barns CBRC0041 106 107 1 0.85 0.13
---------- ----- ------- --------- ------- -------
Barns CBRC0041 112 115 3 4.08 0.47
---------- ----- ------- --------- ------- -------
Barns Incl. 112 113 1 9.70 1.00
---------- ----- ------- --------- ------- -------
Barns Incl. 113 114 1 2.23 0.32
---------- ----- ------- --------- ------- -------
A plan showing all hole collar locations is shown in Figure 2
and all drillhole traces in Figure 3 in the accompanying PDF
version only.
Figure 1: Wudinna Gold Project location plan
(pdf version only)
The Central Gawler Gold Province is a belt of gold-dominant
mineralisation which formed approximately 1,590 million years ago
during the regionally extensive Hiltaba/GRV tectonothermal event.
Gold mineralisation at the Barns, White Tank and Baggy Green
deposits is hosted by variably deformed granodiorite/gneiss
interpreted to belong to the Tunkillia Suite, a group of 1,690 Ma
granitoids that form important host rocks in the Central Gawler
Gold Province. The PDF version includes a map with Figure 1.
Current Wudinna Gold Camp Mineral Resource
Deposit Classification Mt Grade (g/t Gold ounces
Au)
Barns Indicated 0.41 1.4 18,000
Inferred 1.71 1.5 86,000
------------------------------ ----- ----------- ------------
Total 2.12 1.5 104,000
------------------------------ ----- ----------- ------------
White Tank Inferred 0.28 1.4 13,000
---------------- ----- ----------- ------------
Baggy Green Inferred 2.03 1.4 94,000
---------------- ----- ----------- ------------
Total 4.43 1.5 211,000
----- ----------- ------------
Note: Inconsistencies in totals due to rounding
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
UPDDKKBPCBKDDDB
(END) Dow Jones Newswires
January 21, 2021 02:00 ET (07:00 GMT)
Cobra Resources (LSE:COBR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Cobra Resources (LSE:COBR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
