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Cobra Resources offers attractive exposure to Australian gold

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What the company does

Cobra Resources PLC (LON:COBR) is a gold explorer, with assets in Australia

What it owns

The Wudinna project lies on the Eyre Peninsular of South Australia, and comprises six tenements that total 1,928 square kilometres of ground in the Central Gawler Craton Gold Province.

The project includes a cluster of deposits and earlier stage prospects, including the Barns deposit, the Baggy Green deposit, and the White Tank deposit.

These deposits have a combined resource of 211,000 ounces of gold on them.

The company also owns the Prince Alfred copper project in South Australia

What’s the latest?

In the fourth quarter of 2020 Cobra Resources PLC (LON:COBR) drilled 41 reverse circulation holes covering over 6,000 metres focusing on the Baggy Green, Clarke, Barns and White Tank deposits in Australia.

Results from Clarke came in first, including 5.2 grams per tonne over 15 metres and 3.06 grams per tonne over 31 metres.

This is now a high priority future target and the fact that it lies 1.75km north of the existing resource at Baggy Green provides potential for a totally new resource zone and a lot of scope to infill in between

Next came Baggy Green which accounts for around half the existing resource base.

The Baggy Green drilling was designed to test northern and southern extensions to the existing resource.

From the chief executive

“I’m thrilled with these results,” said chief executive Craig Moulton, after the RC results from the 2020 Widunna campaign.

“Against any metric, results such as 3.25 g/t over 13m, 6.28 g/t over 5m and 8 g/t over 3m are incredibly exciting. It shows that, as we continue to methodically execute our strategy of applying sound industry-leading science, the Wudinna project continues to deliver. Also, it will be very interesting to understand whether these new silver and copper results represent an additional value dimension to the project.”

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