Wudinna Project
- 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