Highlights

  • 211,000 Oz defined JORC Gold Mineral Resource Estimate, 4 km2 crustal elution rare earth mineralisation footprint
  • 22 orogenic gold targets, with significant grades of between 16 g/t up to 37.4 g/t gold outside of the current resource
  • Discovery of critical rare earth elements overlaying gold mineralisation at multiple prospects, with grades and intercept widths comparable to other IAC hosted rare earth projects of considerable market value
  • Significant opportunity to become Australia’s only vertically associated gold and rare earths project
  • Unique opportunity to integrate IAC mineralisation with defined gold resources to enhance project economics
  • One copper-gold prospect, and five IOCG targets
  • One adjacent exploration tenement (Corrobinnie – 100% Cobra Resources) covering 532 km2 sits outside the Wudinna Project and is prospective for orogenic lode gold and IAC style rare earth mineralisation
  • Excellent existing infrastructure

Work to Date

  • Three-stage geochemical sampling/re-assay programme to define the geochemical relationships with mineralisation
  • 41 hole/6,090m RC drilling programme to test exploration models
  • Pathfinder programme defined 1.1 km gold anomaly at Clarke, validated IOCG targets, and identified REE potential
  • RC drilling campaign focused on Clarke prospect – 14 holes/2,163m
  • Detailed gravity surveys and geochemistry analysis

Next Steps

  • Fully funded 2022 work programme to rapidly expand rare earths discovery and update gold mineral resource estimate
  • Re-analysis of retained samples from previous drilling programmes, expanding the tested rare earth mineralisation footprint from 0.5 km2 to 4.4 km2
  • Rotary Air Blast (RAB) drilling programme and saprolite drilling to test rare earths, refinement of high-value gold, and IOCG priority targets – de-risking follow-up RC drilling

Ownership

Cobra Resources 65% / Andromeda Metals 35% (Cobra Resources expects to complete A$5M farm-in to earn 75% in mid-2022)

Size

5 tenements covering 1,832 km2

Maps & Sections

Image Gallery