• 211,000 Oz defined JORC Gold Mineral Resource Estimate
  • 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 overlying gold mineralisation at multiple prospects, with grades and intercept widths comparable to other IAC hosted rare earth projects of considerable market value
  • South Australia’s only vertically associated gold and rare earths project
  • JORC Rare Earth Mineral Resource Estimate of 20.9 Mt occurs above and proximal to a defined 94,000 Oz gold resource at the Baggy Green prospect, and overlies 600m of intersected gold mineralisation at the Clarke prospect
  • Significant regional scalability potential for saprolite hosted rare earths
  • Positive indicators for paleo-channel hosted ionic rare earths
  • Unique opportunity to advance an economically beneficial combination of gold and rare earth resources
  • 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, defining the geochemical relationships with mineralisation
  • 65 RC holes (>9,000m) drilled, expanding gold mineralisation across the Clarke, Baggy Green, Barns, and White Tank prospects
  • Pathfinder programme defined 1.1 km gold anomaly at the Clarke prospect, validated IOCG targets, and identified REE potential
  • Detailed gravity surveys and geochemistry analysis of IOCG targets
  • Over 10,000m of  drilling completed, refining gold and IOCG targets and defining REE mineralisation
  • Re-analysis of retained samples from previous drilling programmes to expand the tested REE mineralisation, resulting in a maiden REE Mineral Resource overlying gold mineralisation at the Clarke and Baggy Green prospects, a significant REE Exploration Target defined at the Thompson prospect, and significant REE mineralisation across 15 different prospects
  • Scanning Electron Microscope (SEM) analysis, defining phase changes of REE mineralogy and identifying economic desorption potential
  • Preliminary desorption and leach testing by the Australian Nuclear Science and Technology Organisation, defining magnet REE recoveries of up to 34.7%
  • Geophysical surveys at the Clarke prospect co-funded by the South Australia Accelerated Discovery Initiative (ADI), defining further gold and REE associations (including Loupe TEM and Controlled Source Audio-frequency Magneto-Tellurics surveys)

Next Steps

  • Metallurgical evaluation of a range of samples selected at varying pH conditions – an important catalyst for ionic REE adsorption
  • Evaluate beneficiation and metallurgical optimisation processes to enable the development of a commercial flowsheet evaluation
  • Further SEM analyses to evaluate quantities of REE mineral phases at various pH conditions
  • Drilling programme of 5,000–10,000m, aimed at growing both gold and REE Mineral Resources at the Clarke, Barns, and Thompson prospects
  • Update existing 211,000 Oz gold MRE to incorporate the Clarke prospect and over 5,000m of additional drilling undertaken across existing gold Mineral Resource prospects


Cobra Resources 65% / Andromeda Metals 35%


Total land package of 3,261 km2

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