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Cobra Resources PLC - Wudinna gold project in South Australia - Following the drilling of 29 holes as part of the 91-hole, 4,000 metre aircore drilling programme at the Wudinna project in Australia, the company discovers further along-strike gold mineralisation, as well as target-generating gold in saprolite, which has been defined across broad zones north of existing mineralisation.
In addition, rare earth elements have been intersected above and proximal to gold intersections.
‘These results confirm along-strike continuity of gold and rare earth mineralisation at the Clarke prospect. Some of the widths and grades intersected at such shallow depths are extremely exciting and should have positive implications on grades at depth when we return with the RC rig. Whilst we eagerly await further assays, the results from Clarke enable us to refine our geological models and improve the precision of our planned RC drilling campaign,’ says Chief Executive Officer Rupert Verco.
Current stock price: 1.99 pence, up 11% on Tuesday
12-month change: up 17%
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