Cobra Resources PLC (COBR.L) Wudinna Project Update: Assay Results

Baggy Green 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 gold intercepts at the Baggy Green deposit. The Baggy Green JORC resource is currently estimated at 94,000 oz and occurs as two deposits as shown in Figure 2 of the accompanying pdf version only . 13 holes were drilled to the north and south of, and in between, the existing JORC resource zones, with a further six exploration holes targeting new mineralisation.

Highlights from the Baggy Green gold intercepts include:

9m at 1.07 g/t to the north of the southern JORC resource zone
1m at 3.73 g/t in an exploration hole approximately 300m to the north of the northern JORC resource zone
Two thick low-grade intercepts of 13m at 0.33 g/t and 10m at 0.29 g/t both to the south of the southern JORC resource zone

A full summary of significant gold intercepts from Baggy Green follows below. These results are associated with the 19 reverse circulation (RC) holes (totalling 2,504m) which were drilled during the Company’s recent drilling programme. Generally, holes were spaced at approximately 50m east-west and 200m north-south in an aim to establish the orientation of the mineralisation and any potential extensions or connections. A plan showing hole collar location is also shown in Figure 2 and drillhole traces in Figure 3 in the accompanying PDF version only.

Summary of significant gold intercepts

These Baggy Green assay results, together with the Clarke assay results announced on 3 December 2020, represent approximately half of the total assay results awaited from the programme. The Company continues to await assay results from drilling at the Barns and White Tank deposits which are now expected to be announced in January 2021.

Craig Moulton, Director of Cobra, commented:

“We are currently focused on the geochemical and structural interpretation of these results, and expect that, when combined with the borehole wireline logging data, they will provide a strong indication on the orientation of the mineralisation at Baggy Green. This has positive implications for defining further extensions to the resource. It is encouraging to see relatively thick low-grade intercepts to the south of the existing JORC resource as well as a high-grade intercept well to the north. We now eagerly await the remaining assays at Barns. ”

A PDF version of the announcement, inclusive of images, can be accessed via the link below:

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.