this was put up on cobra's website, not sure if Wuddina Project and Eyre Peninsula gold project are the same
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update:
Clarke Gold Deposit Assay Results
Cobra, the gold exploration and mining company focused on theWudinna Gold ProjectinSouth Australia, is pleased to announce significant high-grade gold intercepts at the Clarke deposit, including 5.2 g/t gold over a 15m intersection. These results are associated with the three reverse circulation (RC) holes (totalling 409m) which were drilled at the Clarke deposit and are included in the initial assay results to be returned from the Company's recent drilling programme.
The Clarke deposit is located approximately 1.75 km north of the current Baggy Green resource and this mineralisation is not yet included in the current Wudinna Project JORC resource base.The three holes were drilled approximately 60m north of the existing mineralisation at Clarke to test and define the continuity and orientation of the mineralisation.
Significant gold intercepts (greater than 1g/t) at Clarke include:
| Hole CBRC009 | 31m at 3.06 g/t from 69m incl. 4m at 3.18 g/t, 1m at 1.21 g/t and 15m at 5.25 g/t |
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| 1 | Hole CBRC008 | 2m at 1.4 g/t from 34m |
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| 2 | Hole CBRC008 | 15m at 1.4 g/t from 43m including4m at 4.19 g/t |
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| 3 | Hole CBRC008 | 1m at 1.17g/tfrom 63m |
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| 4 | Hole CBRC008 | 4m at 1.33 g/t from 80m including1m at 2.49g/t |
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| 5 | Hole CBRC007 | 4m at 1.06 g/t from 63m including1m at 2.91 g/t |
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| 6 | Hole CBRC007 | 4m at 2.34 g/t from 76m including1m at 6.42 g/t |
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The Clarke deposit assay results represent approximately 20 per cent of the total assay results awaited from the programme. The Company continues to await assay results from drilling at the Baggy Green, Baggy Green North, Barns and White Tank deposits which are now expected to be received between lateDecember 2020and earlyJanuary 2021.
Craig Moulton, Director of Cobra, commented:
"Given we still have 80 per cent of the assay results still to come, we are very excited about these initial high-grade intersections at Clarke which have positive indications for the future of theWudinna Project. The substantial 31m intersectionhas been intersected north of mineralisation previously drilled at Clarke. It is apparent that extensions down dip and along strike from this intersection represent a high priority target for a future drilling programme.
It is important to remember that there are currently no resources estimated for Clarke and so we now have the potential for a new resource zone some 1.75 km north of that existing at Baggy Green."
(20min delay)