Business
Yarranna Southeast Re-Assay Results
Yarranna Southeast Re-Assay Results.
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 \n26 June 2024\n \nCobra Resources plc\n(\"Cobra\" or the \"Company\")\n \nYarranna Southeast Re-Assay Results:\n \nHigh-grade uranium mineralisation\n&\nValidation of rare earth exploration strategy over scalable area\n \nCobra (LSE: COBR), an exploration company prioritising a strategy to lower the cost of critical rare earth production at its Boland Project in South Australia, is pleased to announce further re-assay results from the Yarranna Southeast prospect.\n \nYarranna Southeast is located on the Pureba exploration licence at the Company's Western Eyre Peninsula Project. Re-assaying of 25 holes and 674 samples validates historical reports of uranium mineralisation and has enabled Cobra to refine and interpret mineralised roll-fronts, defining priority drill targets for high-grade uranium mineralisation and ionic rare earths (\"REEs\").\n \nIn addition to REEs, the Company's extensive 4,773 km2 Gawler Craton landholding hosts shallow gold resources and several sandstone hosted uranium occurrences. These re-assay results are an important step in the Company's pathway to refining scalable ionic REE targets while simultaneously advancing non-core assets.\n \nHighlights\n \n· Re-assays confirm economic uranium with significant upside: IR1435 intersects 3m at 476 ppm U3O8 from 72m, including 1m at 789 ppm U3O8 from 72m\n \no Re-assay of IR1435 is a 40% increase in grade compared to the historical reported grade of 3m at 340 ppm U3O8\n \n· High-grade target zone identified: historical drilling occurred at ~500m x 500m spacing. Oxidation and reduction mapping of historical dr...