Business
Rare Earth and Gold Resource Upgrades
Rare Earth and Gold Resource Upgrades.
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 \n7 September 2023\n \nCobra Resources plc\n (\"Cobra\" or the \"Company\")\n \nRare Earth and Gold Resource Upgrades\n \nUnique and Economically Advantageous Dual Resource Project\n \nCobra, a gold, rare earth and IOCG exploration company focused on the Wudinna Project in South Australia, is pleased to announce upgrades to both its Rare Earth Elements (\"REE\") and Gold JORC Mineral Resource estimates (\"MRE\"), which establish this dual resource project as unique and economically advantageous.\n \nHighlights - Rare Earth Elements\n \n· Upgraded REE MRE includes:\no +99% increase in tonnes\no +5% increase in Magnet Rare Earth Oxide (\"MREO\") grade\no +109% increase in MREO metal content\n· An exclusively unique REE resource that overlies the Baggy Green and now, Clarke gold resources, providing a competitive metric for low operational costs\n \nHighlights - Gold\n \n· Upgraded Gold MRE includes:\no +32% increase in gold metal (+68,000 Oz)\no +1.4Mt increase in ore tonnes\no 33,000 Oz maiden MRE estimate at the Clarke prospect\n· Shallow resource - all resource ounces occur within 200m of surface, presenting as low cost, camp scale open pit extraction with enhanced economics from REE overburden\n· Total gold resource of 5.8Mt at 1.5 g/t gold for 279,000 Oz\n· Gold ounce increases across all deposits, demonstrating potential for additional growth through infill and further extensional drilling\n \nRupert Verco, CEO of Cobra, commented:\n \n\"It is pleasing to see resource ex...