REG - Cobra Resources PLC - Wudinna Project Update
20/06/2022 07:00
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RNS Number : 3718P Cobra Resources PLC 20 June 2022
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20 June 2022
Cobra Resources plc
("Cobra" or the "Company")
Wudinna Project Update
Stage 4 Re-Analysis Demonstrates Large Scalability of Rare Earth
Mineralisation
Preliminary Metallurgical Testing Provides Encouraging Recovery Potential
Cobra, a gold, IOCG, and rare earth exploration company focused on the Wudinna
Project in South Australia, announces results from the Stage 4 re-analysis of
a further 78 drillholes (1,024 samples) from historic drilling at several
regional targets. Drillholes were re-analysed for lanthanides following the
definition to date of a 4 km(2) Rare Earth Element ("REE") mineralisation
footprint above Clarke and Baggy Green gold mineralisation.
· Exceptional high-grade REE intersections have been defined within
saprolite clays at several regional targets that are headlined by:
o SCH-0922 intersects 31m at 1,427 ppm TREO from 12m including 12m at 3,168
ppm TREO with 28.4% combined neodymium/praseodymium (Nd/Pr) and 1.7%
dysprosium (Dy)
o WUD1-0231 intersects 18m at 2,024 ppm TREO from 24m with 23.7% combined
Nd/Pr and 2.8% Dy
o KY1-0399 intersects 37m at 1,304 ppm TREO from 18m with 22% Nd/Pr and 1.5%
Dy
· A number of the prospects yielding high-grade rare earth
intersections will be tested within our current aircore drilling programme.
· High-grade intersections occur along a 47-kilometre structural trend
across the project's 1,832 km(2), demonstrating the scale potential of REE
mineralisation where:
o at the Anderson prospect, the average significant intersection is 18.3m at
844 ppm TREO from 16m with neodymium and praseodymium equating to 23.1% and
dysprosium 1.5% of the TREO;
o at the Thompson prospect, the average significant intersection is 15.6m at
832 ppm TREO from 16m with neodymium and praseodymium equating to 23.8% and
dysprosium 1.6% of the TREO;
o at the Hadlee prospect, the average significant intersection is 25m at 693
ppm TREO from 22m with neodymium and praseodymium equating to 22.2% and
dysprosium 1.3% of the TREO; and
o at the Botham prospect, the average significant intersection is 12m at 836
ppm TREO from 32m with neodymium and praseodymium equating to 19.7% and
dysprosium 1.6% of the TREO.
· Preliminary metallurgical test work completed by the Australian
Nuclear Science and Technology Organisation ("ANSTO") on samples from two
drillholes at Clarke confirm the presence of leachable REE mineralisation,
with leach recoveries of up to 34.1% TREE (+Y)
Rupert Verco, CEO of Cobra, commented:
"These results contain some of the highest grade REE intersections reported
from the project to date with high quantities of high-value magnet rare earths
including neodymium, praseodymium and dysprosium.
The results validate our belief that targeting large structures that enhance
REE mobility and granite weathering can produce higher grade rare earth
occurrences over incredibly large areas. The reported rare earth grades and
widths to date demonstrate that the Wudinna Project is potentially a
world-class rare earth province.
Preliminary metallurgical test work confirms leachable rare earth
mineralisation, with recoveries being in line with other rare earth projects.
The results necessitate further follow-up testing where optimisation
techniques will be tested with the aim of further improving recoveries.
Our current and upcoming field programmes are designed to further advance the
extent of rare earth mineralisation, define further gold mineralisation and to
drill test our exciting IOCG targets.
We look forward to providing updates as our field work progresses."
A webcast presentation by the Company's CEO regarding the interpretation of
these results is available on the Company's website at
www.cobraplc.com/investors/ (http://www.cobraplc.com/investors/) .
Highlights include:
· At the Anderson prospect, highlight intersections include:
o WUD1-0231 intersected 18m at 2,024 ppm TREO from 24m, including 12m at
2,767 ppm TREO from 30m, above the previously reported 1m at 1.013 g/t gold
from 79m
o WUD1-0383 intersected 40m at 641 ppm TREO from 12m, including 6m at 1,077
ppm TREO from 36m
o WUD1-0328 intersected 15.6m at 612 ppm TREO from 15.5m
· At the Thompson prospect, highlight intersections include:
o SCH-0922 intersected 31m at 1,427 ppm TREO from 12m, including 12m at
3,168 ppm TREO from 12m
o SCH-0939 intersected 6m at 1,839 ppm TREO from 36m
o SCH-0928 intersected 12m at 811 ppm TREO from 36m
o SCH-0977 intersected 18m at 692 ppm TREO from 6m
o KO11S-1085 intersected 6m at 687 ppm TREO from 0m
· At the Hadlee prospect, highlight intersections include:
o KY1-0399 intersected 37m at 1,304 ppm TREO from 18m
o KY1-0397 intersected 16m at 633 ppm TREO from 36m
o KO3-0525 intersected 18m at 544 ppm TREO from 18m
· At the Botham prospect, highlight intersections include:
o WBN-0884 intersected 12m at 800 ppm TREO from 18m
o WBN-0888 intersected 6m at 1,165 ppm TREO from 48m
o WBN-0962 intersected 18m at 544 ppm TREO from 30m
· At the Barns and White Tank gold resources intersections include:
o RHBN-177 intersected 12m at 540 ppm TREO from 18m
o RHBN-182 intersected 6m at 518 ppm TREO from 6m and 6m at 946 ppm TREO
from 24m
o Intersections are low in radioactive nuclei with average intersections of
uranium and thorium being 6 ppm and 22 ppm respectively
(1)Rare earth results reported as calculated true width intersections using a
maximum of 6m internal dilution, owing the downhole composite length.
· Metallurgical test work demonstrates leaching recoveries of up to
34.1% TREE (+Y) using H2SO4 as lixiviant, at a pH 1 over a 6-hour duration -
comparable to preliminary metallurgical results of other clay hosted rare
earth projects in South Australia
· Leach time and pH positively impact recoveries
· Low to moderate acid consumption demonstrated in test work
· Metallurgical test work confirms low content Ion phase mineralisation
and more abundant colloidal mineralisation. These styles of mineralisation are
conducive to low-cost extraction techniques
Cobra now intends to conduct follow-up validation metallurgical optimisation
test work and to evaluate recovery potential over broader areas of
mineralisation. Cobra also intends to trial rare earth extraction techniques
such as rare earth characterisation by size, beneficiation stage amenability,
varying lixiviants, pH, leach times, introducing washing steps and introducing
multiple leach steps.to increase high value magnet rare earth recoveries.
Interpretation of results:
Re-analysis of historic pulp samples
· The proximity of regional, large scale geological structures to
high-grade REE intersections is interpreted to result from:
o NW trending structure acting as conduits for the Hiltaba age intrusions
that are elevated in REEs
o Structural fabrics exacerbating secondary weathering and REE mobilisation,
resulting in increased saprolite thicknesses and REE enriched saprolite
horizons
· REE high-grade intersections have been defined along 47 km of an
extensive regional structure. This structure intersects and offsets gold
mineralisation at Barns, White Tank and Baggy Green Resources
· The results re-affirm the companies approach to defining a large,
robust and complementary dual commodity resource
Preliminary metallurgical test work
o 1m sample composites from Clarke drillholes CBRC0044 and CBRC0054 (drilled
in Nov-21) were submitted to ANSTO to test the recovery of contained rare
earth elements. Results have been reviewed by Peter Adamini BSc (Mineral
Science and Chemistry), who is a full time employee of Independent Metallurgy
Operations Pty Ltd (IMO) and a Member of The Australasian Institute of Mining
and Metallurgy (http://www.ausimm.com.au/) (AusIMM).
o Clay-hosted rare earth deposits generally contain three styles of
mineralisation:
o Ionic phase: Where rare earths occur as soluble cations and are adsorbed
to weakly charged clay particles. This rare earth mineralisation can be
readily extracted by ion-exchange leaching with monovalent salts
o Colloid phase: REEs are present as oxides or hydroxides or as part of
colloidal polymeric compounds. These species have a higher presence in ores
from slightly alkaline conditions and are recoverable through acid leaching
o Mineral phase: REEs occur within solid crystal particulate of minerals
representative of the host rocks. This type of mineralisation generally forms
the non-recoverable portion of ionic clay deposits, only being recoverable by
aggressive conditions that involve complex flow sheets
· Two separate tests targeting the ionic and colloid phases of rare
earth mineralisation were performed where:
o Metallurgical recoveries are calculated from head grades analysed via a
mixed acid digest -Lithium Borate Fusion ICP scan. This resulted in an average
increase in head grade of ~6% compared to the previously reported 4-Acid
digest results
o The standard desorption test targeting the ionic phase of mineralisation
yielded low (<10%) recoveries from 40-gram samples under the following
standard conditions:
§ 0.5M (NH(4))(2)SO(4) as lixiviant
§ pH4
§ Duration: 30 minutes
§ Ambient temperature of 22°C
§ 2 wt% density
o Leaching test work demonstrated improved recoveries resulting from reduced
pH and increased leach time with one sample yielding recoveries of up to 34.1%
TREE+Y under the following conditions:
§ Acidic water as lixiviant (using H(2)SO(4))
§ pH1
§ Duration: 6 hours
§ Ambient temperature of 22°C
§ 2 wt% density
o Results suggest a higher portion of colloid phase mineralisation
o Acid consumption was low to moderate for all tested samples
o Results are comparable to the preliminary results presented for other
South Australian clay hosted rare earth projects that have demonstrated
improved recoveries through optimisation test work
o The results demonstrate the presence of colloid phase mineralisation.
Ionic phase mineralisation is controlled by a number of environmental factors
including pH, varying ground water conditions, the presence of sulphides in
bedrock and the chemistry of the overlying humic layer which may improve
recovery
o Varying conditions encountered over large geological domains, intersected
changes in REE composition and varying states of the saprolite horizon
re-affirm the potential for ionic phase mineralisation to occur at the Wudinna
Project
o Based on the results of the preliminary metallurgical test work, the
Company is encouraged to undertake further optimised metallurgical assessment
across the expanded REE mineralisation footprint
Next steps
The Company is focused on executing its exciting, high-value 2022 work
programme that is designed to:
1. Cost effectively grow the existing 211,000 ounce gold mineral
resource estimate ("MRE") through testing strike extensions at Clarke, test
resource extensions at Barns and White Tank, and test prospective regional
gold in calcrete and pathfinder anomalies
2. Expand the saprolite hosted rare earth mineralisation footprint
beyond the reported re-analysis footprint with the aim defining a maiden REE
resource
3. Maiden drill test IOCG targets with anomalous geophysical and
geochemical indicators
The current aircore drilling programme and the planned RC programme are
designed to advance a number of gold, IOCG and rare earth targets where REE
mineralisation will be tested from the clay component of the Saprolite
horizon. This will enable the collection of greater sample quantities across a
significantly expanded sample area enabling rare earth element metallurgical
optimisation studies.
In consultation with ANSTO and metallurgical consultants IMO, the Company will
determine the best approach to define a robust metallurgical optimisation
study. Options include rare earth characterisation by size, beneficiation
stage amenability, varying lixiviants, pH, leach times, introducing washing
steps and introducing multiple leach steps.
In addition to this release, a version of this report with supplementary
information and images can be found at
http://www.rns-pdf.londonstockexchange.com/rns/3718P_1-2022-6-17.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3718P_1-2022-6-17.pdf)
Enquiries:
Cobra Resources plc via Vigo Consulting
Rupert Verco (Australia) +44 (0)20 7390 0234
Dan Maling (UK)
SI Capital Limited (Joint Broker) +44 (0)1483 413 500
Nick Emerson
Sam Lomanto
Peterhouse Capital Limited (Joint Broker) +44 (0)20 7469 0932
Duncan Vasey
Lucy Williams
Vigo Consulting (Financial Public Relations) +44 (0)20 7390 0234
Ben Simons
Charlie Neish
Kendall Hill
The person who arranged for the release of this announcement was Rupert Verco,
CEO of the Company.
About Cobra
Cobra's Wudinna Project is located in the Gawler Craton which is home to some
of the largest IOCG discoveries in Australia including Olympic Dam, as well as
Prominent Hill and Carrapateena. Cobra's Wudinna tenements contain extensive
orogenic gold mineralisation and are characterised by potentially
open-pitable, high-grade gold intersections, with ready access to nearby
infrastructure. Recent drilling has discovered Rare Earth Mineralisation
proximal to and above gold mineralisation. The grades, style of mineralogy and
intercept widths are highly desirable. In addition, Cobra has over 22 orogenic
gold prospects, with stand-out grades of 16 g/t up to 37.4 g/t gold outside of
the current 211,000 oz JORC Mineral Resource Estimate, as well as one
copper-gold prospect, and five IOCG targets.
Competent Persons Statement
Information and data presented within this announcement has been compiled by
Mr Robert Blythman, a Member of the Australian Institute of Geoscientists
("MAIG"). Mr Blythman is a Consultant to Cobra Resources Plc and has
sufficient experience, which is relevant to the style of mineralisation,
deposit type and to the activity which he is undertaking to qualify as a
Competent Person defined by the 2012 Edition of the Australasian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves (the "JORC"
Code). This includes 10 years of Mining, Resource Estimation and Exploration
relevant to the style of mineralisation.
The information in this document that relates to metallurgical test work is
based on, and fairly represents, information and supporting documentation
reviewed by Mr Peter Adamini, BSc (Mineral Science and Chemistry), who is a
Member of The Australasian Institute of Mining and Metallurgy
(http://www.ausimm.com.au/) (AusIMM). Mr Adamini is a full-time employee of
Independent Metallurgical Operations Pty Ltd, who has been engaged by Cobra
Resources Plc to provide metallurgical consulting services. Mr Adamini has
approved and consented to the inclusion in this document of the matters based
on his information in the form and context in which it appears.
Information in this announcement has been assessed by Mr Rupert Verco, a
Fellow of the Australasian Institute of Mining and Metallurgy ("FAusIMM"). Mr
Verco an employee of Cobra Resources Plc has more than 15 years relevant
industry experience, which is relevant to the style of mineralisation, deposit
type and to the 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 (the "JORC" Code).
This includes 10 years of Mining, Resource Estimation and Exploration relevant
to the style of mineralisation.
Information in this announcement relates to exploration results that have been
reported in the following announcements:
"Wudinna Project Update - Re-Analysis Defines Large Rare Earth Mineralisation
Footprint Above Baggy Green and Clarke Gold Mineralisation", dated 4 May 2022
"Wudinna Project Update - Northern Drillholes at Clarke Intersect Additional
Gold Mineralisation, Additional Rare Earth Intersections Directly Above Gold
Zones", dated 7 February 2022
"Wudinna Project Update - Clarke Gold Assay Results", dated 3 December 2020
Additional Information
Table 1: Significant rare earth oxide intercepts from lanthanide re-analysis
at 350 ppm cut-over grade, reported as true width.(1)
Location BHID DH From (m) DH To (m) Depth from Surface True width (m) TREO (ppm) Praseodymium Neodymium Terbium Dysprosium
Pr6O11 Nd2O3 Tb4O7 Dy
2O
3
ppm % TREO ppm % TREO ppm % TREO ppm % TREO
Bradman ACBN-195 30 36 30.0 6.0 1352 55 4.1% 223.6 16.5% 5.4 0.4% 30.8 2.3%
Hadlee KO3-0451 18 54 18.0 36.0 496 23 4.7% 86.0 17.3% 1.4 0.3% 6.4 1.3%
KO3-0525 18 36 18.0 18.0 544 30 5.6% 98.2 18.1% 1.2 0.2% 5.7 1.0%
KO3-0543 18 36 18.0 18.0 489 24 4.9% 90.5 18.5% 1.4 0.3% 7.6 1.6%
KY1-0397 36 52 36.0 16.0 633 27 4.3% 100.5 15.9% 1.3 0.2% 6.5 1.0%
KY1-0399 18 55 18.0 37.0 1304 60 4.6% 226.3 17.4% 3.5 0.3% 19.3 1.5%
Barns/White Tank RHBN-0286 12 18 12.0 6.0 578 27 4.7% 83.0 14.4% 0.7 0.1% 3.2 0.6%
RHBN-177 18 30 18.0 12.0 540 21 4.0% 78.9 14.6% 2.0 0.4% 11.4 2.1%
RHBN-179 24 36 24.0 12.0 481 22 4.5% 76.7 15.9% 1.5 0.3% 8.1 1.7%
RHBN-182 6 12 6.0 6.0 518 25 4.9% 78.0 15.1% 0.6 0.1% 2.6 0.5%
RHBN-182 24 30 24.0 6.0 946 37 3.9% 152.3 16.1% 3.1 0.3% 17.3 1.8%
Thompson SCH-0922 12 43 12.0 31.0 1427 72 5.1% 333.3 23.4% 4.7 0.3% 24.8 1.7%
inc 12 24 12.0 12.0 3168 169 5.3% 792.3 25.0% 10.2 0.3% 52.1 1.6%
SCH-0928 36 48 36.0 12.0 811 42 5.2% 179.5 22.1% 3.2 0.4% 17.4 2.1%
SCH-0931 24 42 24.0 18.0 432 18 4.3% 69.7 16.1% 1.4 0.3% 8.3 1.9%
SCH-0939 36 42 36.0 6.0 1839 53 2.9% 249.1 13.5% 10.8 0.6% 73.4 4.0%
SCH-0942 42 54 42.0 12.0 512 26 5.1% 97.6 19.1% 1.3 0.3% 6.2 1.2%
SCH-0977 6 24 6.0 18.0 692 36 5.2% 129.9 18.8% 0.8 0.1% 3.4 0.5%
SCH-0985 18 36 18.0 18.0 598 29 4.8% 105.4 17.6% 1.2 0.2% 5.5 0.9%
SCH-0996 36 60 36.0 24.0 577 30 5.2% 112.1 19.4% 1.0 0.2% 4.8 0.8%
KO11S-1085 0 6 0.0 6.0 687 33 4.8% 124.1 18.1% 1.1 0.2% 4.8 0.7%
and 72 78 72.0 6.0 743 41 5.5% 161.6 21.7% 2.4 0.3% 12.0 1.6%
Botham WBN-0884 18 30 18.0 12.0 800 31 3.8% 117.6 14.7% 2.9 0.4% 19.4 2.4%
WBN-0888 48 54 48.0 6.0 1165 46 4.0% 178.2 15.3% 2.6 0.2% 14.5 1.2%
WBN-0962 30 48 30.0 18.0 544 26 4.8% 90.7 16.7% 1.3 0.2% 5.9 1.1%
Anderson WUD1-0231 24 42 24.0 18.0 2024 93 4.6% 386.9 19.1% 10.3 0.5% 57.0 2.8%
inc 30 42 30.0 12.0 2767 126 4.6% 525.6 19.0% 14.2 0.5% 79.0 2.9%
WUD1-0328 18 36 15.6 15.6 612 37 6.0% 136.4 22.3% 1.8 0.3% 8.4 1.4%
WUD1-0373 18 24 18.0 6.0 456 21 4.7% 68.5 15.0% 0.8 0.2% 3.7 0.8%
WUD1-0383 12 52 12.0 40.0 641 29 4.5% 117.4 18.3% 2.5 0.4% 12.4 1.9%
inc 36 42 36.0 6.0 1077 49 4.6% 181.2 16.8% 2.6 0.2% 11.1 1.0%
WUD1-0385 12 24 12.0 12.0 486 23 4.7% 78.9 16.2% 0.8 0.2% 3.6 0.7%
Laker WUD2C-0267 60 90 60.0 30.0 477 21 4.4% 78.4 16.4% 1.8 0.4% 10.1 2.1%
WUD2C-0658 36 48 36.0 12.0 1050 43 4.1% 183.2 17.4% 5.3 0.5% 30.9 2.9%
inc 36 45 36.0 9.0 1638 64 3.9% 279.1 17.0% 9.0 0.6% 53.6 3.3%
WUD2C-0665 18 24 18.0 6.0 615 35 5.7% 132.2 21.5% 1.2 0.2% 4.5 0.7%
WUD2C-0665 36 42 36.0 6.0 553 19 3.5% 98.0 17.7% 4.7 0.9% 27.1 4.9%
WUD2C-0788 48 72 48.0 24.0 481 18 3.8% 78.2 16.3% 2.9 0.6% 18.7 3.9%
( )
(1) Retained composite pulps from Historic Reverse Circulation, Rotary Air
Blast and Aircore drillholes
Table 2: Previously reported gold intersections from reported re-analysed
drill holes (intersections presented as downhole).
( )
Prospect Hole ID From To Interval Au (g/t) Including
Barns RCBN-0312 42 43 1 11.24
143 146 3 1.35
151 153 2 1.17
163 164 1 1.54
170 171 1 4.02
185 186 1 1.82
194 196 2 1.17
White Tank RHBN-179 55 59 4 1.36 including 1m @ 3.16g/t Au from 56m
Anderson WUD1-0231 79 80 1 1.01
Laker WUD2C-0652 48 49 1 1.00
Laker WUD2C-0637 45 46 1 0.84
Table 3: Drillhole collar details for all reported re-analysed drillholes
Location Hole_ID Easting Northing RL Depth Dip Azimuth Re-analysed samples
Anderson ULY-1111 554,807 6,353,923 110 56 -90 0 10
Anderson WUD1-0231 554,930 6,355,574 139 85 -90 0 13
Anderson WUD1-0232 555,551 6,355,140 121 59 -90 0 5
Anderson WUD1-0328 555,077 6,355,624 138 180 -60 270 15
Anderson WUD1-0373 556,629 6,354,971 120 69 -90 0 12
Anderson WUD1-0379 556,629 6,355,571 132 46 -90 0 8
Anderson WUD1-0380 555,729 6,354,771 120 37 -90 0 7
Anderson WUD1-0383 555,429 6,354,771 120 55 -90 0 10
Anderson WUD1-0385 555,079 6,355,371 130 73 -90 0 13
Anderson WUD1-0499 554,879 6,355,371 132 80 -90 0 19
Barns ACBN-165 543,220 6,366,614 117 48 -90 0 8
Barns ACBN-194 540,428 6,365,172 126 66 -90 0 11
Barns RCBN-0312 542,228 6,366,222 122 216 -60 90 190
Barns RHBN-177 541,630 6,365,871 130 51 -90 0 9
Barns RHBN-188 540,717 6,365,148 128 51 -90 0 8
Botham WBN-0880 550,129 6,360,171 146 52 -90 0 9
Botham WBN-0882 550,529 6,360,171 141 34 -90 0 6
Botham WBN-0884 549,929 6,360,771 142 61 -90 0 11
Botham WBN-0888 550,729 6,360,771 140 73 -90 0 6
Botham WBN-0896 552,329 6,357,771 150 82 -90 0 19
Botham WBN-0952 551,886 6,358,171 158 105 -90 0 18
Botham WBN-0962 552,679 6,357,771 157 91 -90 0 16
Boycott COR11-0201 572,730 6,357,881 158 60 -90 0 4
Boycott COR11-0210 571,327 6,357,975 160 52 -90 0 7
Boycott COR11-0211 571,228 6,357,952 160 22 -90 0 4
Boycott COR11-0214 570,928 6,357,971 161 43 -90 0 1
Bradman ACBN-195 539,529 6,364,371 113 40 -90 0 7
Empire WUD9-1033 556,329 6,364,871 177 74 -90 0 13
Empire WUD9-1038 556,829 6,364,871 174 70 -90 0 12
Empire WUD9-1041 557,129 6,364,871 179 55 -90 0 10
Empire WUD9-1047 555,824 6,364,471 180 79 -90 0 14
Empire WUD9-1048 556,229 6,364,471 180 88 -90 0 15
Empire WUD9-1053 556,729 6,364,471 180 85 -90 0 15
Hadlee KO3-0421 572,729 6,337,671 100 92 -90 0 6
Hadlee KO3-0429 573,329 6,336,571 100 52 -90 0 9
Hadlee KO3-0441 572,729 6,336,771 100 40 -90 0 7
Hadlee KO3-0451 572,529 6,335,871 104 73 -90 0 13
Hadlee KO3-0504 572,977 6,335,667 110 61 -90 0 11
Hadlee KO3-0525 573,029 6,334,871 113 57 -90 0 17
Hadlee KO3-0532 572,629 6,334,871 111 69 -90 0 1
Hadlee KO3-0543 573,229 6,336,221 100 40 -90 0 7
Hadlee KY1-0397 568,629 6,338,621 90 52 -90 0 9
Hadlee KY1-0399 568,329 6,338,621 90 55 -90 0 10
Laker WUD2C-0262 567,731 6,363,269 200 72.2 -90 0 1
Laker WUD2C-0267 568,126 6,362,072 200 107 -90 0 14
Laker WUD2C-0302 566,924 6,362,772 200 88.9 -90 0 14
Laker WUD2C-0637 566,329 6,362,271 200 105 -90 0 33
Laker WUD2C-0652 567,329 6,362,671 200 91 -90 0 9
Laker WUD2C-0658 566,329 6,362,871 201 73 -90 0 17
Laker WUD2C-0665 567,129 6,363,271 200 79 -90 0 24
Laker WUD2C-0781 567,329 6,361,884 190 79 -90 0 14
Laker WUD2C-0788 567,729 6,361,868 192 88 -90 0 15
Laker WUD2C-0797 567,281 6,362,274 199 58 -90 0 10
Laker WUD2C-0802 567,527 6,362,281 199 46 -90 0 8
Laker WUD2C-0821 566,830 6,363,072 200 103 -90 0 18
Laker WUD2C-0833 566,378 6,363,267 200 97 -90 0 17
Ponting WUD2N-0219 569,000 6,367,398 180 70 -90 0 12
Thompson KO11S-1085 574,729 6,341,671 110 81 -90 0 14
Thompson KO11S-1091 574,929 6,341,171 110 56 -90 0 1
Thompson KO11S-1092 574,929 6,340,971 110 42 -90 0 7
Thompson KO11S-1094 575,129 6,341,171 110 54 -90 0 9
Thompson KO11S-1104 574,329 6,341,371 110 58 -90 0 9
Thompson SCH-0922 578,329 6,343,371 122 43 -90 0 8
Thompson SCH-0924 578,329 6,343,771 130 58 -90 0 10
Thompson SCH-0928 578,329 6,341,971 120 55 -90 0 10
Thompson SCH-0931 579,129 6,342,171 126 49 -90 0 9
Thompson SCH-0933 579,129 6,341,771 120 58 -90 0 2
Thompson SCH-0939 581,129 6,341,571 144 70 -90 0 12
Thompson SCH-0942 581,129 6,340,971 140 69 -90 0 12
Thompson SCH-0944 577,259 6,341,971 112 58 -90 0 10
Thompson SCH-0977 577,259 6,342,471 119 54 -90 0 8
Thompson SCH-0985 578,329 6,342,321 120 40 -90 0 7
Thompson SCH-0996 581,129 6,342,121 147 76 -90 0 13
Thompson SCH-1009 576,329 6,342,171 128 49 -90 0 9
White Tank RHBN-0276 543,219 6,365,741 120 42 -90 0 8
White Tank RHBN-0286 542,240 6,364,697 130 25 -90 0 5
White Tank RHBN-179 542,513 6,365,075 130 69 -90 0 32
White Tank RHBN-182 542,229 6,365,071 130 42 -90 0 0
Appendix 1: JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Historic RC, Rotary Air Blast ("RAB") and aircore drilling methods
specific specialised industry standard measurement tools appropriate to the have been employed at Barns, White Tank, Clarke and Baggy Green prospects
minerals under investigation, such as downhole gamma sondes, or handheld XRF since 2000.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · Sample composites vary between drilling techniques, 4-6m composites
have been used for aircore and RAB drilling. RC drilling composites have
· Include reference to measures taken to ensure sample representivity previously been done at 4m, samples with elevated in gold were re-assayed at
and the appropriate calibration of any measurement tools or systems used. 1m.
· Aspects of the determination of mineralisation that are Material to · Samples were initially submitted to ALS Laboratory Services Pty Ltd
the Public Report. ("ALS") in Adelaide, South Australia, for Fire Assay (Au) and multi-element
analysis.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m · Pulps have been stored at Challenger Geological services, Adelaide.
samples from which 3 kg was pulverised to produce a 30 g charge for fire Samples were extracted based on geological review and were submitted to the
assay'). In other cases, more explanation may be required, such as where there Genalysis Intertek Laboratories, Adelaide, pulps were re-pulverised and
is coarse gold that has inherent sampling problems. Unusual commodities or re-analysed for lanthanides.
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · RAB and aircore drilling has occurred in unconsolidated regolith and
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or saprolite.
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc). · Aircore hammer (slimline RC) in hard rock (90mm).
· Reverse circulation drilling has been performed by various
contractors, all drilling has been carried out with a 140mm face Samling drill
bit.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Sample recoveries and moisture content were recorded during drilling,
results assessed. with details filed and uploaded to the drillhole database.
· Measures taken to maximise sample recovery and ensure representative · In general, sample through all drilling methods has been good.
nature of the samples.
· Drilling procedures ensure that the sample system and cyclone were
· Whether a relationship exists between sample recovery and grade and cleaned at the completion of each hole (in all programmes).
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · No relationships between sample recovery and grade have been
identified.
Logging · Whether core and chip samples have been geologically and · All drill samples were logged by an experienced geologist at the time
geotechnically logged to a level of detail to support appropriate Mineral of drilling. Lithology, colour, weathering and moisture were documented.
Resource estimation, mining studies and metallurgical studies.
· All drilled metres were logged.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. · Logging is generally qualitative in nature.
· The total length and percentage of the relevant intersections logged. · All RC drill metres have been geologically logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · Samples from Aircore, RAB and bedrock RC holes have been collected
taken. as 1m samples and sampled as 6m composites. Subject to results, 1m resplits
were historically generated by riffle splitting if dry, wet samples were split
· If non-core, whether riffled, tube sampled, rotary split, etc and using a trowel.
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. · Additional sub-sampling was performed through the preparation and
processing of samples according to the laboratory's internal protocols.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · Internal lab duplicates and standards were run at a frequency of 1
in 20 samples.
· Measures taken to ensure that the sampling is representative of the
in situ material collected, including for instance results for field · 120 g Pulp sample sizes were appropriate for the material being
duplicate/second-half sampling. sampled.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Pulps were retrieved from storage (Challenger Geological Services)
laboratory procedures used and whether the technique is considered partial or and re-submitted to Genalysis Intertek Laboratories, Adelaide.
total.
· Historically, samples were analysed by ALS, Adelaide, using AU-GA22
· For geophysical tools, spectrometers, handheld XRF instruments, etc, 50 g charge. Muti-elements (48) for all samples we analysed using ME-MS61, a
the parameters used in determining the analysis including instrument make and 4-acid digest method with an ICP-MS finish.
model, reading times, calibrations factors applied and their derivation, etc.
· Gold quantity was analysed using 50 g fire assay techniques
· Nature of quality control procedures adopted (eg standards, blanks, (FA50/OE04) that utilise a 50 g lead collection fire assay with ICP-OES finish
duplicates, external laboratory checks) and whether acceptable levels of to deliver reportable precision to 0.005 ppm.
accuracy (ie lack of bias) and precision have been established.
· Multi-element geochemistry was digested by four acid ICP-MS and
analysed for Ag, As, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Li, Mg, Mn, Mo, Ni,
Pb, Pd, Pt, Sb, Se, S, Sn, Sr, Te, U, V, W, Y and Zn.
· Saprolite zones were identified by logging and chip tray review.
· Pulp samples were identified from the historic dataset to analyse for
additional lanthanide elements by 4-acid ICP-MS and analysed for Pr, Nd, Sm,
Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu.
· Field blanks and standards were previously submitted at a frequency
of 1 in 20 samples.
· Reported assays are to acceptable levels of accuracy and precision.
Metallurgical Test Work performed by the Australian Nuclear Science and
Technology Organisation (ANSTO). Samples were 40g sourced from retained 1m
composite pulp samples.
· Standard desorption conditions:
• 0.5M (NH4)2SO4 as lixiviant
• pH 4
• 30 minutes
• Ambient temperature of 22°C; and
• 2 wt% solids density
· Prior to commencing the test work, a bulk 0.5 M (NH4)2SO4 solution
was prepared as the synthetic lixiviant and the pH adjusted to 4 using H2SO4.
· Each of the leach tests was conducted on 40 g of dry, pulverised
sample and 1960 g of the lixiviant in a 2 L titanium/ stainless steel baffled
leach vessel equipped with an overhead stirrer.
· Addition of solid to the lixiviant at the test pH will start the
test. 1 M H2SO4 was utilised to maintain the test pH for the duration of the
test, if necessary. The acid addition was measured.
• Acidic water as lixiviant (using H2SO4)
• pH1
• Duration: 6 hours
• Ambient temperature of 22°C
• 2 wt% density
· At the completion of each test, the final pH was measured, the slurry
was vacuum filtered to separate the primary filtrate.
· 2 hour liquor sample was taken
· Final residue solids was thoroughly water washed (150 g DI/ 40 g
solid), dried and analysed.
· The primary filtrate was analysed as follows: • ICP-MS for Ce, Dy,
Er, Eu, Gd, Ho, La, Lu, Mn, Nd, Pb, Pr, Sc, Sm, Tb, Th, Tm, U, Y, Yb (ALS,
Brisbane); • ICP-OES for Al, Ca, Fe, K, Mg, Mn, Na, Si (in-house, ANSTO);
· The water wash was stored but not analysed.
Verification of sampling and assaying · The verification of significant intersections by either independent · Sampling data was recorded in field books, checked upon digitising,
or alternative company personnel. and transferred to database.
· The use of twinned holes. · Compositing of assays was undertaken and reviewed by Cobra staff.
· Documentation of primary data, data entry procedures, data · Original copies of lab assay data are retained digitally on the Cobra
verification, data storage (physical and electronic) protocols. server for future reference.
· Discuss any adjustment to assay data. · Physical copies of field sampling books and field geological logs are
retained by Cobra for future reference.
· Close spacing (<10m) have been re-analysed to test consistency of
grade data
· All intersection compositing has been done using datamine downhole
compositor with the following parameters:
· Gold compositing:
· 2020-2021 RC drilling 0.2 and 0.6 cut-offs with a maximum
internal dilution of 3m. 02. g/t Au cut-off used to identify mineralisation
continuity.
· All drilling prior to 2020 has been composited at a 0.5g/t
cut-oof with a maximum internal dilution of 3m.
· Rare Earth Mineralisation
· Intersections calculated at 350 ppm and 500 ppm cut-offs.
· Drillholes with 1m downhole composites have been composed with a
maximum of 4m internal dilution
· Drillholes with 2-6m downhole composites have been composed with
a maximum of 6m internal dilution.
· Significant intercepts have been prepared by Mr Rupert Verco and
reviewed by Mr Robert Blythman.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Collar locationshave either been surveyed using a DGPS (±0.5m
and downhole surveys), trenches, mine workings and other locations used in accuracy) and recent RC drilling surveyed using Leica CS20 GNSS base and rover
Mineral Resource estimation. with 0.05cm instrument precision.
· Specification of the grid system used. · Downhole surveys were undertaken for all RC drilling
· Quality and adequacy of topographic control. · Drillhole lift in aircore and RAB drilling of saprolite is considered
minimal.
· Collar locations from Hagstrom were surveyed using a DGPS in GDA2020
which were then converted to MGA94 Zone 53.
· Downhole survey azimuths have been converted from true north to
geodetic datum GDA 94 zone 53.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drill lines are variably 100-200m apart at Baggy Green, hole spacings
are generally 50m (RC) which are infilled with air core.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · Drill line spacing at Clarke is nominally 100m with hole spacings
Resource and Ore Reserve estimation procedure(s) and classifications applied. being ~50m.
· Whether sample compositing has been applied. · Re-analysed drillholes have been selected to provide approximately
200m by 200m coverage
· RC hole dips vary between 60 and 80 degrees.
· All re-assayed Aircore and RAB holes are vertical.
· No sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Drill lines orientated east-west across NNE-SSW trending mineralised
possible structures and the extent to which this is known, considering the zones at both Baggy Green and Clarke.
deposit type.
· Insufficient geological information is known at regional prospects.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a · Rare Earth intercepts have been presented as both downhole and true
sampling bias, this should be assessed and reported if material. width intercepts. The nature of mineralisation reflects the weathering profile
of the saprolite and is therefore horizontal in nature. Reported true widths
are calculated as vertical.
Sample security · The measures taken to ensure sample security. · Pulps have been stored at a secure facility between the initial
analysis and the time of re-assay.
· Desired pulps were recovered from storage, sample and job numbers
cross referenced with records.
· Pulps were transported from storage to the Laboratory by Cobra
Resources staff.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · No audit or review has been undertaken.
· Genalysis Intertek Laboratories Adelaide are a National Association
of Testing Authorities ("NATA") accredited laboratory, recognition of their
analytical competence.
Appendix 2: Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The Clarke and Baggy Green prospects fall on EL6131. The tenement is
agreements or material issues with third parties such as joint ventures, 100% wholly owned by Peninsula Resources Ltd. The tenements are covered by the
partnerships, overriding royalties, native title interests, historical sites, Wudinna Heads of agreement that entitles Lady Alice Mines ("LAM") to earn-in
wilderness or national park and environmental settings. up to 75%.
· The security of the tenure held at the time of reporting along with · Newcrest Mining Limited retains a 1.5% NSR royalty over future
any known impediments to obtaining a licence to operate in the area. mineral production from both licences.
· Baggy Green, Clarke, Laker and the IOCG targets are located within
Pinkawillinie Conservation Park. Native Title Agreement has been negotiated
with the NT Claimant and has been registered with the SA Government.
· Aboriginal heritage surveys have been completed over the Baggy Green
project area, with no sites located in the immediate vicinity.
· A Native Title Agreement is in place with the relevant Native Title
party.
· Exploration and mining activities are permitted in the park subject
to meeting environmental conditions defined by the SA Government.
· A Compensation agreement is in place with the landowner.
· Exploration tenements are in good standing.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · On-ground exploration completed prior to Andromeda Metals' work was
limited to 400m spaced soil geochemistry completed by Newcrest Mining Limited
over the Barns prospect.
· Other than the flying of regional airborne geophysics and coarse
spaced ground gravity, there has been no recorded exploration in the vicinity
of the Baggy Green deposit prior to Andromeda Metals' work.
Geology · Deposit type, geological setting and style of mineralisation. · The deposits are considered to be either lode gold or intrusion type
mineralisation related to the 1590 Ma Hiltaba/GRV tectonothermal event.
· Gold mineralisation has a spatial association with mafic
intrusions/granodiorite alteration and is associated with metasomatic
alteration of host rocks.
· Rare earth minerals occur within the kaolinised saprolite horizon.
Preliminary XRD analyses performed by the CSIRO supports IAC mineralisation.
Florencite and monazite were also detected. Further work is planned to define
mineralogy and nature of mineral occurrence.
· A summary of all information material to the understanding of the · The report includes a tabulation of drillhole collar information and
exploration results including a tabulation of the following information for associated interval grades to allow an understanding of the results reported
all material drill holes: herein.
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Reported summary intercepts are weighted averages based on length.
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually material and should be stated. · Rare earth intercepts have been presented as both downhole and true
width intercepts. The nature of mineralisation reflects the weathering profile
· Where aggregate intercepts incorporate short lengths of high-grade of the saprolite and is therefore horizontal in nature.
results and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations · Rare earth results are reported with a 350 ppm TREO cut-over grade
should be shown in detail. and a maximum internal dilution of 6m.
· The assumptions used for any reporting of metal equivalent values · Assayed intervals through reported intersects are tabulated in the
should be clearly stated. body of this report.
· No metal equivalent values have been calculated.
· REE analysis was originally reported in elemental form and has been
converted to relevant oxide concentrations in line with industry standards.
Conversion factors tabulated below:
Element Oxide Factor
Cerium CeO2 1.2284
Dysprosium Dy2O3 1.1477
Erbium Er2O3 1.1435
Europium Eu2O3 1.1579
Gadolinium Gd2O3 1.1526
Holmium Ho2O3 1.1455
Lanthanum La2O3 1.1728
Lutetium Lu2O3 1.1371
Neodymium Nd2O3 1.1664
Praseodymium Pr2O3 1.1703
Scandium Sc2O3 1.5338
Samarium Sm2O3 1.1596
Terbium Tb2O3 1.151
Thulium Tm2O3 1.1421
Yttrium Y2O3 1.2699
Ytterbium Yb2O3 1.1387
· The reporting of REE oxides is done so in accordance with industry
standards with the following calculations applied:
§ TREO = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 +
Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3
§ CREO = Nd2O3 + Eu2O3 + Tb4O7 + Dy2O3 + Y2O3
§ LREO = La2O3 + CeO2 + Pr6O11 + Nd2O3
§ HREO = Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 +
Yb2O3 + Lu2O3 + Y2O3
§ NdPr = Nd2O3 + Pr6O11
§ TREO-Ce = TREO - CeO2
§ %Nd = Nd2O3/ TREO
§ %Pr = Pr6O11/TREO
§ %Dy = Dy2O3/TREO
§ %HREO = HREO/TREO
§ %LREO = LREO/TREO
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Pulp re-analysis has been performed to confirm the occurrence of REE
Exploration Results. mineralisation. Preliminary results support unbiased testing of mineralised
structures.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · Holes drilled have been drilled in several orientations due to the
unknown nature of gold mineralisation, or to test the local orientation of
· If it is not known and only the downhole lengths are reported, there gold mineralisation.
should be a clear statement to this effect (eg 'downhole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Plan and section maps are referenced that demonstrate results of
intercepts should be included for any significant discovery being reported. interest.
These should include, but not be limited to, a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · Referenced plans detail the extent of drilling and the locations of
practicable, representative reporting of both low and high grades and/or both high and low grades. Comprehensive results are reported.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Significant intersects of reported previous intersections are
reported including (but not limited to): geological observations; geophysical tabulated for reported or displayed holes.
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral · Further Pulp re-analysis is planned to test the lateral extent of REE
extensions or depth extensions or large-scale step-out drilling). mineralisation over previously drilled areas. Follow-up RAB and RC drilling is
planned to test for possible extensions. The complete results from this
· Diagrams clearly highlighting the areas of possible extensions, programme will form the foundation for a maiden resource estimation.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
· The reporting of REE oxides is done so in accordance with industry
standards with the following calculations applied:
§ TREO = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 +
Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3
§ CREO = Nd2O3 + Eu2O3 + Tb4O7 + Dy2O3 + Y2O3
§ LREO = La2O3 + CeO2 + Pr6O11 + Nd2O3
§ HREO = Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 +
Yb2O3 + Lu2O3 + Y2O3
§ NdPr = Nd2O3 + Pr6O11
§ TREO-Ce = TREO - CeO2
§ %Nd = Nd2O3/ TREO
§ %Pr = Pr6O11/TREO
§ %Dy = Dy2O3/TREO
§ %HREO = HREO/TREO
§ %LREO = LREO/TREO
Relationship between mineralisation widths and intercept lengths
· These relationships are particularly important in the reporting of
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the downhole lengths are reported, there
should be a clear statement to this effect (eg 'downhole length, true width
not known').
· Pulp re-analysis has been performed to confirm the occurrence of REE
mineralisation. Preliminary results support unbiased testing of mineralised
structures.
· Holes drilled have been drilled in several orientations due to the
unknown nature of gold mineralisation, or to test the local orientation of
gold mineralisation.
Diagrams
· Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being reported.
These should include, but not be limited to, a plan view of drill hole collar
locations and appropriate sectional views.
· Plan and section maps are referenced that demonstrate results of
interest.
Balanced reporting
· Where comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
· Referenced plans detail the extent of drilling and the locations of
both high and low grades. Comprehensive results are reported.
Other substantive exploration data
· Other exploration data, if meaningful and material, should be
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
· Significant intersects of reported previous intersections are
tabulated for reported or displayed holes.
Further work
· The nature and scale of planned further work (eg tests for lateral
extensions or depth extensions or large-scale step-out drilling).
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
· Further Pulp re-analysis is planned to test the lateral extent of REE
mineralisation over previously drilled areas. Follow-up RAB and RC drilling is
planned to test for possible extensions. The complete results from this
programme will form the foundation for a maiden resource estimation.
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