Cobra Resources (LSE:COBR) has delivered a maiden mineral resource estimate (MRE) for its Wudinna Rare Earth Project in South Australia, establishing a resource base for the planned Scoping Study.
The MRE totals 150 million tonnes (Mt) @ 470 parts per million (ppm) total rare earth oxides (TREO), containing approximately 70,400 tonnes of TREO and averaging 112ppm magnet rare earth oxides.
Within the total, 60Mt @ 572ppm TREO is classified as indicated, representing approximately 40% of the inventory. The balance is inferred.
ERM prepared the estimate using data from 91 sonic core holes at the Boland and Head prospects, alongside metallurgical, permeability, and organic carbon analyses.
The estimate considers in situ recovery (ISR) for suitable Pidinga formation material and open-pit extraction for other material. Cobra says 61% of the Pidinga tonnes and 57% of its contained TREO have been evaluated as ISR-recoverable.
Managing Director and CEO Rupert Verco says the resource establishes a foundation for the project’s Scoping Study.
“This maiden resource marks an important milestone in the development of the Wudinna Rare Earth Project,” Verco says.
“The resource has been delivered cost effectively with significant scale upside for future growth.”
Cobra maps staged development pathway
Cobra’s indicative schedule includes cost modelling, ISR optimisation, and small-scale production testing in 2027.
Work during 2027–2028 would assess wellfield performance, product quality, commercial arrangements, approvals, and funding. The company says it could progress towards an investment decision from 2029, subject to technical studies, financing, permitting, and partnerships.
Cobra has also outlined a conceptual exploration target of 665–1,447Mt @ 376–478ppm TREO across Boland and Head. Further drilling is required to determine whether this material can be converted into a mineral resource. No ore reserve has been estimated.
Separately, Cobra recently reported three copper discoveries at its Manna Hill Project.
Cobra Resources is a UK-listed explorer advancing the Wudinna rare earth and Manna Hill copper projects in South Australia.
Write to France Pinzon at Mining.com.au
Main image: Cobra Resources
