Business
Wudinna Project Update & Directorate Change
Wudinna Project Update & Directorate Change.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1964U\n Cobra Resources PLC\n 01 April 2021\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \n NOT 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 \n 1 April 2021\n \n \n Cobra Resources plc\n \n \n (\"Cobra\" or the \"Company\")\n \n \n \n \n Wudinna Project Update:\n 2021 Work Programme\n &\n Directorate Change\n \n Cobra, the gold explorer focused on the Wudinna Gold Project in South Australia, is pleased to provide an update on its intended work programme for 2021 following the completion of the analysis of data acquired from the 6,090 metres of Reverse Circulation drilling undertaken between September and November 2020 (the \"2020 Work Programme\").\n Significantly, the 2020 Work Programme successfully identified a strike extension of mineralisation at the Clarke prospect, with an intersection in Hole CBRC009 of 31 metres at 3.06 g/t of gold (including 15 metres at 5.2 g/t).\n The 2020 Work Programme has provided further data on the orientation and continuity of the mineralisation at Clarke and Baggy Green, leading to a new model and a revised structural interpretation. Important outcomes of this revised structural interpretation are that:\n \n · the mineralisation is now thought likely to persist downdip to depths not previously drilled; and\n \n · the mineralisation is now thought likely to persist along strike into areas not previously drilled or geochemically sampled.\n In line with the Board's strategy to deliver incremental resource expansion, this year's work programme will focus on drilling for further strike extensions to the Clarke mineralised trend sufficient to deliver an initial Mineral Resource for this prospect, as well as drilling strike extensions of existing Mineral Resources at Baggy Green.\n The Company is presently finalising...