SGC are pleased to share the update by Cobra Resources plc on drilling progress at the Clarke prospect

Southern Geoscience Consultants are pleased to share the update by Cobra Resources plc (LSE: COBR), on drilling progress at the Clarke prospect, which is being informed by encouraging geophysics obtained from the South Australian Advanced Discovery Initiative (“ADI”) co-funded Loupe TEM survey, with the equipment rented from SGC.

The 16-hole, ~2,000m programme is being drilled for infill of existing drilling, to test for further Rare Earth Elements (“REE”) above gold strike extensions, to test beyond defined mineralisation, where gold and rare earth mineralisation remains open, to inform a gold resource update, to contribute to a maiden REE MRE, and to provide samples for further rare earth metallurgical testing.

Results of Loupe TEM Survey include that defined gold mineralisation at Clarke is located along distinct linear terminations bordering highly conductive zones. Four additional repeat structures, branching from the major regional E-W fault, have been identified within the survey and warrant follow-up drill testing. High-grade REE mineralisation correlates to highly conductive zones that define troughs of deep saprolite weathering.

Loupe TEM has been demonstrated to be a cost-efficient method of defining and modelling zones prospective for REE mineralisation.

SGC Principal Geophysicists Karen Gilgallon and Remke van Dam supported Cobra Resources with survey planning, modelling and interpretation of the Loupe TEM data.

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REE significant intersections >500 ppm TREO plotted against Loupe TEM survey sections, displayed in 3d space. High conductive zones prospective for high clay adsorption of rare earths are depicted in red
Cobra Resources plc