London-listed, South Australia-focused Cobra Resources has confirmed more favourable rare earth assay results at its Boland prospect, including initial drilling results from the Head prospect.

The company undertook 3 200 m of drilling on both prospects comprising 74 holes, which aimed to support a mineral resource estimate for the projects' unique controlled aquifer-hosted ionic rare earth mineralisation which is amenable to low-cost in-situ recovery.

About 80% of planned drilling on the prospects has been completed.

In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna project in the Gawler Craton – Australia’s only rare earth project suitable for in situ recovery mining.

Notably, with the latest drilling round, Cobra uncovered a high-grade continuous five-kilometre-long flank at the Head prospect where mineralisation occurs within three lithologies amenable to in-situ recovery. Intersections from this prospect include 5.9 m of total rare earth oxide (TREO) grading 1 232 parts per million (ppm) from 27.8 m; 6.6 m of TREO grading 636 ppm from 26.6 m; 3.8 m of TREO grading 1 322 ppm from 26.1 m; and 1 m of TREO grading 3 607 ppm from 18.6 m.

Cobra confirms that results from another 12 drillholes from the Head prospect remain outstanding.

Notable Boland intersections include 3.2 m of TREO grading 688 ppm from 40.5 m; 1.05 m of TREO grading 1 004 ppm from 32.6 m; and 5.62 m grading 459 ppm from 21.7 m.

Cobra MD Rupert Verco says results from the Head prospect indicate the presence of a significant system that remains open to the north and south. "The prospect contains all the right features to enable cost-efficient in-situ recovery. It highlights that the target geology within the Pidinga formation is likely to be regionally extensive across the 3 200 km² of paleochannel systems contained within Cobra's landholding in South Australia."

He deems this opportunity truly unique owing to it being the first rare earths project of its kind in which a resource will incorporate modelling of key economic factors for permeability and acid generation. When coupled with the low capital and operating costs associated with in-situ recovery, it changes the industry's expectations of what is economically possible and positions Cobra competitively at the bottom of the cost curve.