Cobra Resources offers attractive exposure to Australian gold

Cobra Resources plc is a gold exploration, development and mining company whose shares are listed on the main market of the London Stock Exchange.

Cobra’s flagship Wudinna Gold 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. In total, Cobra has over 22 orogenic gold prospects, with grades of between 16g/t up to 37.4g/t outside of the current 211,000 ounce JORC resource, as well as 1 copper-gold prospect, and 4 IOCG targets.

() highlighted the progress made on the Wudinna gold project in South Australia as it announced its interim results.

It carried out a geochemical sampling programme and drilled 138 holes across two targets in the first half of the year. Since then, the company has drilled a further 875 holes across eight priority targets and appointed Rupert Verco, a South Australian mining specialist, as chief executive.

The results of the geochemical sampling programme are being assayed and interpreted and will be used to design a drilling programme, expected to start around late-October.

“The first half of 2021 has been a period of detailed data collection and analysis,” said chairman Greg Hancock. “It has helped consolidate the geological models and will provide an excellent springboard for planned exploration activities.

PLC () has appointed Jason Cherry as exploration manager.

Since June 2021, Cherry has been in the field managing Cobra’s aircore geochemistry programme at Wudinna.

PLC () announced the appointment of Rupert Verco as chief executive with effect from July 12.

Verco is a mining specialist with over 14 years’ experience in Australia and internationally and has focused on areas including resource definition, reserve optimisation, mine planning, and mine operation, said the gold explorer. He has managed operations through all phases of the mining cycle on projects that cover a range of commodities including gold, copper, uranium, tin, and iron ore.

In the fourth quarter of 2020 PLC () drilled 41 reverse circulation holes covering over 6,000 metres focusing on the Baggy Green, Clarke, Barns and White Tank deposits in Australia.

This was a key progression from the substantial geochemical work and soil sampling work carried out earlier in 2020 which helped inform the targets for drilling – it was a major operational milestone in the process for Cobra building towards the group’s strategic aim of delivering an initial target of a one million ounce gold resource, a fivefold increase from the current 211,000 ounce resource.

()’s () new CEO Rupert Verco joins Proactive London’s Katie Pilbeam to talk about his role and what attracted him to the company’s Wudinna gold project.

Verco says it was an opportunity to work with a board with a proven track record in project growth within the Australian resources sector and says the potential is significant.

He says the project has historically demonstrated an exceptional return on capital investment with almost 60% of RC and diamond drill holes intersecting economic mineralisation.