Cobra Resources (LSE:COBR) has received approval regarding an upcoming 50-hole for 2,800m reverse circulation drilling program across the Blue Rose prospect, as part of the Manna Hill Project in South Australia.
The drilling program, expected to begin after Christmas, will target strike and depth extensions, alongside the interpreted northern syncline limb aiming to increase the scale or skarn mineralisation.
Managing Director Rupert Verco says this is the first time the prospect has been drilled in over a decade.
Speaking to Mining.com.au, the Managing Director says Cobra currently holds the project under option but the company sees “significant upside” in the asset.
Verco notes there’s multiple targets that are confirmed as porphyry systems within an area of South Australia that’s been locked up for a number of years.
“We now have the land access to go and test this area and we have an IP survey underway at a target called Blue Rose,” he tells this news service.
“We have worked diligently to understand geological controls and assess upside for both scale and grade.
“There is no doubt that Blue Rose bears the right geological setting to deliver a major porphyry discovery.”
Drilling is expected to take two weeks to complete, with assays expected in late January 2026. The results will ultimately inform a follow-up drill program.
A geophysics contractor has mobilised to site to execute an induced polarisation survey, which is expected to take 12 days to complete. The survey aims to confirm Cobra’s interpretation for the scale of existing mineralisation to be greatly increased by testing, as well as refine the interpretation of the Blue Rose porphyry system.
Verco notes that this upcoming work program is designed to show the potential of the Manna Hill asset as a basis for which the company will look to exercise its option to acquire the project.
He adds that 12 years ago the last hole drilled at Blue Rose intersected 48m at 2.2% copper and 76 grams per tonne of gold from just 11m.
“And we think there’s a lot of scale to be had … so this survey is looking to define what our interpretation is,” Verco continues.
In August 2025, Cobra entered into a 12-month option agreement to acquire Manna Hill. Cobra intends to issue $1 million shares to the vendor to acquire the project.
Manna Hill covers 1,855km2 and incorporates the Anabama Granite Intrusion located in the Nakara Arc – a Cambrian age rift system that has long been recognised for its prospective porphyry systems. The project comprises numerous prospects with varying styles of mineralisation including skarn, porphyry, carlin, orogenic, and sediment-hosted mineralisation.
Cobra Resources is a South Australian critical minerals developer focused on advancing assets at all stages of the pre-production pathway.
Write to Aaliyah Rogan at Mining.com.au
Images: Cobra Resources
