We talk to Craig Moulton from Cobra Resources PLC to get an update on the Wudinna Gold Project And Prince Alfred.
We also ask about any further acquisitions and when investors can expect to see the share trading again.
Wudinna Gold Project Resource
Key Highlights:
• The updated Mineral Resource has increased to 4.43 million tonnes at 1.5 g/t gold for 211,000 ounces of gold. The previous resource estimate was 3.85 million tonnes at 1.6 g/t gold for 200,300 ounces.
• This update represents an increase of 5% in contained gold and 15% in resource tonnes.
• This resource includes 4.02 million tonnes at 1.5 g/t gold for 193,000 ounces of Inferred resource and 0.41 million tonnes at 1.4g/t gold for 18,000 ounces of Indicated resource.
• This represents an increase of 0.59 million tonnes or 10,700 ounces of gold when compared to the previous Mineral Resources announced by Andromeda on the 23rd January 2017
(refer: http://www.andromet.com.au/images/uploads/reports/20170123_BG_WT_Resource_FINAL.pdf).
• The Barns, White Tank and Baggy Green deposits are located within 6 km of each other and are shallow and potentially open-pitable.
• Each of the deposits remain open and step-out drilling can potentially add further resources.
Craig Moulton, Managing Director of Cobra commented:
“I am delighted with the updated resource estimate for this key project in Cobra’s portfolio. The increase in the JORC Mineral Resource based on this new interpretation, and without new drilling data, confirms our belief that there is significant value to be unlocked from this exciting project.”
Company Website Link: www.cobraresourcesplc.com
Company Twitter Account: @Cobra_Resources
