COBRA RESOURCES PLC (Alliance News) - Cobra Resources PLC on Thursday announced re-assay results from a further 195 samples at the Wudinna project in South Australia.
According to the rare earth minerals miner, the results supported ionic rare earth mineralisation continuity and scalability at the Boland discovery.
Specifically, they extended the defined rare earth mineralisation footprint to over 33 kilometres, with mineralisation being open in multiple directions along the palaeochannel.
A further 674 samples from 25 drill holes have been taken across the Yarranna South-East uranium prospect, where an over 4 kilometres, uranium-bearing rollfront has been defined by previous explorers.
"Boland is shaping up to be a company-making project. Whilst scale and ionic metallurgy are important, it is the amenability of Boland's geology to [in situ recovery mining] that has the ability to make it unique and commercially competitive," said Chief Executive Officer Rupert Verco.
He added: "We are well positioned to capitalise on our first-in-market advantage. Results from our initial bench-scale ISR trials are expected in June, where subsequent tests will inform an infield pilot test, and we have already installed the wellfield infrastructure which we aim to implement in 2025."
Shares in Cobra Resources were up 3.8% at 1.35 pence each in London on Thursday afternoon.
By Holly Beveridge, Alliance News reporter
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