REG - Cobra Resources PLC - Manna Hill: Diamond Drilling Commences

Cobra ResourcesAnnouncement

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RNS Number : 3498G  Cobra Resources PLC  01 June 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
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1 June 2026

 

Cobra Resources plc

 
("Cobra" or the "Company")

 

Manna Hill: Diamond Drilling Commences

 

Deep diamond drilling to test depth extensions and a potential porphyry source

 

Cobra (LSE: COBR), a South Australian mineral exploration and development
company, is pleased to announce that a fully funded diamond drilling programme
has commenced at the Company's Manna Hill Copper Project.

 

The programme has been designed to test for scale extensions to the shallow,
high-grade copper-gold mineralisation recently defined at the Blue Rose
Discovery ("Blue Rose"), while also evaluating the potential for a deeper
intrusive-related porphyry copper system.

 

Recent Reverse Circulation Drilling Results:

 

·    74m at 1.02% copper ("Cu") and 0.25 g/t gold ("Au") from 70m
(MHRC0018)

·    62m at 1.0% Cu and 0.08 g/t Au from 62m (MHRC0013)

·    86m at 0.60% Cu and 0.14 g/t Au from 18m (MHRC0017)

·    22m at 0.80% Cu from 20m (MHRC0011)

·    20m at 0.78% Cu and 0.14 g/t Au from 38m (MHRC0018)

·    56m at 0.34% Cu from 34m (MHRC0003)

·    10m at 0.12% Molybdenum ("Mo") from 144m (MHRC0003)

 

Highlights of Diamond Drilling Programme:

 

·    Fully funded diamond drilling programme comprising up to six
drillholes for approximately 1,800m

o  Two holes designed to test a large-scale porphyry target associated with
coincident IP chargeability and resistivity anomalies (Black Baccara Target)

o  Four holes targeting depth extensions to high-grade copper-gold skarn
mineralisation at Blue Rose

·    Programme designed to test the geological relationship between copper
mineralisation and interpreted diorite intrusions

·    Diamond core to provide geological, structural and petrophysical
information to refine future targeting

·    Drilling operating on double shifts, with the programme expected to
be completed within approximately 40 days

·    Results to support future resource and extensional drilling
programmes

Rupert Verco, Managing Director, commented:

 

"The commencement of diamond drilling at Manna Hill marks an important next
step in advancing what we believe is one of the most compelling, underexplored
copper systems in South Australia.

Our recent RC drilling confirmed broad zones of shallow, high-grade
copper-gold mineralisation at Blue Rose, while also identifying geological
characteristics consistent with a larger intrusive-driven mineral system. This
diamond programme is specifically designed to test for depth continuity to the
high-grade skarn mineralisation and to evaluate the potential for a deeper
porphyry source.

Importantly, the programme will also provide critical geological, structural
and petrophysical information to refine our targeting model and support future
resource-focused drilling.

With drilling operating on double shifts, we expect the programme to progress
rapidly and I look forward to updating shareholders as results are received."

 

 

To watch a video of Rupert Verco, Managing Director, discussing these drill
results, follow the link:

https://investors.cobraplc.com/link/rDEmGP
(https://investors.cobraplc.com/link/rDEmGP)

 

 

Further information regarding the drilling programme and initial results

 

Cobra's recent reverse circulation ("RC") drilling programme at Blue Rose
demonstrated strong continuity of shallow copper-gold mineralisation and
highlighted the potential for a larger mineralised system at depth. The
current diamond drilling programme has been designed to test whether the
high-grade skarn mineralisation is genetically linked to a deeper
intrusive-related copper system.

 

The programme will also evaluate several large geophysical targets defined
through Induced Polarisation ("IP") surveys, where coincident chargeability
and resistivity anomalies are interpreted to represent potential
porphyry-style mineralisation.

 

In addition to testing for depth continuity and scale, drilling will provide
valuable structural, alteration and petrophysical information to improve the
Company's understanding of the mineral system and support future drill
targeting.

 

 

 

Figure 1: Testing of the Black Baccara porphyry target, diamond drillhole tail
testing coincident IP chargeability and resistivity anomalies under intense
pyrite mineralisation. Image looking east, vertical exaggeration of 2:1.

 

 

About the Manna Hill Project

 

The Manna Hill Project presents South Australia's premier porphyry prospect in
the state that holds around 70% of Australia's copper reserves. The project
comprises multiple early-stage porphyry and skarn prospects.

 

The project also includes the Luron Carlin-style gold prospect and multiple
historic goldfields where over 30koz gold were reported to have been produced.
This style of mineralisation remains underexplored and highly prospective.

 

The project sits along the national railway and Barrier Highway between the
mining hub of Broken Hill, a port and base metals smelter, and the City of
Adelaide.

 

Enquiries:

 

 Cobra Resources plc                           via Vigo Consulting

 Rupert Verco (Australia)                      +44 (0)20 7390 0234

 Dan Maling (UK)

 Hannam & Partners (Joint Broker)              +44 (0) 20 7907 8500

 Leif Powis

 Andrew Chubb

 SI Capital Limited (Joint Broker)             +44 (0)1483 413 500

 Nick Emerson

 Sam Lomanto

 Vigo Consulting (Financial Public Relations)  +44 (0)20 7390 0234

 Ben Simons                                    cobra@vigoconsulting.com

 Seb Weller

 

 

The person who arranged for the release of this announcement was Rupert Verco,
Managing Director of the Company.

 

Information in this announcement relates to exploration results that have been
reported in the following announcements:

 

·    Manna Hill: Further High-Grade Copper Results Support Scale, 14 April
2026

·    Manna Hill: Outstanding Copper Results Elevate Blue Rose from
Prospect to Discovery, 9 March 2026

·    Manna Hill Exploration Update: IP survey results validate and extend
copper-gold skarn and porphyry signatures, 8 January 2026

·    Cobra RNS: Option to Acquire Significant Copper Project, 26 August
2025

Competent Persons Statement

 

Information in this announcement has been compiled based on reports from Mitre
Geophysics consultants and assessed by Mr Rupert Verco, a Fellow of the
Australasian Institute of Mining and Metallurgy. Mr Verco is an employee of
Cobra and has more than 18 years' industry experience which is relevant to the
style of mineralisation, deposit type, and activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of the
Australasian Code for Reporting Exploration Results, Mineral Resources and Ore
Reserves of JORC. This includes 13 years of Mining, Resource Estimation and
Exploration.

 

About Cobra

 

Cobra Resources is a South Australian critical minerals developer, advancing
assets at all stages of the pre-production pathway.

 

In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna
Project in the Gawler Craton - Australia's only rare earth project suitable
for in situ recovery (ISR) mining. ISR is a low-cost, low-disturbance
extraction method that eliminates the need for excavation, positioning Boland
to achieve bottom-quartile recovery costs.

 

In 2025, Cobra further expanded its portfolio by optioning the Manna Hill
Copper Project in the Nackara Arc, South Australia. The project contains
multiple underexplored prospects with strong potential to deliver large-scale
copper discoveries.

 

In 2025, Cobra sold its Wudinna Gold Assets to Barton Gold (ASX: BDG) for up
to A$15 million in cash and shares.

 

Regional map showing Cobra's tenements in South Australia

 

 

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/cobraresourcesplc
(https://www.linkedin.com/company/cobraresourcesplc)

X: https://twitter.com/Cobra_Resources (https://twitter.com/Cobra_Resources)

 

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:
https://investors.cobraplc.com/ (https://investors.cobraplc.com/)

 

Subscribe to our news alert service:
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