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New Rare Earth Tenement Grant - Tasmania
New Rare Earth Tenement Grant - Tasmania.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n \n22 November 2023\n \nCobra Resources plc\n(\"Cobra\" or the \"Company\")\n \nNew Rare Earth Tenement Grant - Deloraine, Tasmania\n \nCobra, an exploration company focused on the Wudinna Gold and Rare Earth Project (\"Wudinna\") in South Australia, is pleased to announce it has been granted a 213 km2 exploration tenement (\"EL22/2022\") in northern Tasmania. The tenement is complementary to Cobra's ionic rare earth strategy as it is considered highly prospective for Ion Adsorption Clay (\"IAC\") hosted rare earth mineralisation.\n \nIonic Rare Earth Element (\"REE\") mineralisation has been identified by ABx Group (ASX: ABX) (\"ABx\") within alluvial channel sediments that are a weathering product of alkali basalts, the chemistry of which is ideal for ionic REE adsorption. EL22/2022 is situated adjacent to ABx's Deep Leads / Rubble Mound REE project which contains a REE resource of 52 Mt at 817 ppm Total Rare Earth Oxides1, with excellent ionic metallurgy amenable to low-cost recovery in weak acid conditions (pH4), akin to Cobra's Boland discovery at Wudinna. Cobra believes that there is considerable opportunity to cost-effectively define scalable ionic REE mineralisation comparable to ABx's Deep Leads / Rubble Mound resource.\n \nRupert Verco, CEO of Cobra, commented:\n \n\"We seized an opportunity to secure this tenement adjacent to an outstanding ionic rare earth project with demonstrated low-cost metallurgy, similar to what we have discovered at Boland. IAC hosted rare earth deposits tend to have a higher contained basket value than hard rock deposits due to their higher content of valuable heavy rare earths. Our tenement neighbour has...