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Cobra Resources PLC - Wudinna gold project in South Australia - Receives results from the remaining 32 holes that were drilled as party of an extensive drill programme in June at its Wudinna project. Identifies high-grade rare earth mineralisation. Says it expects further 750 assays from 76 historic drill holes. Expects the results to be released in September.
"As we extend our knowledge of rare earth mineralisation at the Wudinna project, there are further positive indications for ionic style mineralisation which lends itself to low-cost metallurgical extraction. We eagerly anticipate further rare earth results from the Thompson and Anderson pulp and drillhole re-analyses," Chief Executive Rupert Verco comments.
Current stock price: 1.85 pence, up 5.4% on Monday
12-month change: down 0.3%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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