Cobra Resources plc (LSE: COBR), a South Australian mineral exploration company, has announced significant growth at its Manna Hill Copper Project following new drilling results at the Shadow Rose discovery area. Drill hole MHRC0026, sited 100 metres south of the original discovery hole, intersected 22 metres at 0.48% copper from 10 metres depth, expanding the known mineralised footprint. A second drill rig is now mobilising to site, and first drilling has commenced at the Netley Hill porphyry copper-molybdenum prospect, extending the company's active exploration front across multiple targets.

Key Points

  • Cobra Resources plc (LSE: COBR) is a South Australian critical minerals explorer advancing the Manna Hill Copper Project and the Wudinna Rare Earth Project
  • New drill results extend the Shadow Rose discovery 100 metres south, with MHRC0026 returning 22 metres at 0.48% copper from 10 metres, including 12 metres at 0.7% copper from 16 metres
  • The Blue Rose mineralisation corridor has been extended to 2.7 kilometres of strike; assays from MHRC0055, which showed visual copper oxides from 6 metres to 115 metres, are expected within two weeks
  • Investors will be watching forthcoming laboratory assay results from MHRC0055 and initial results from the Netley Hill porphyry target, which has not been drilled for several decades

Shadow Rose Discovery Hole MHRC0026 Confirms Mineralisation 100 Metres South of Original Intercept

The announcement states that MHRC0026 intersected 22 metres at 0.48% copper and 0.02 grammes per tonne gold from 10 metres, including a higher-grade zone of 12 metres at 0.7% copper from 16 metres. Additional copper mineralisation was recorded at depth, with 10 metres at 0.22% copper from 66 metres and 30 metres at 0.21% copper from 88 metres. The original Shadow Rose discovery hole, MHRC0025, had previously returned 42 metres at 0.56% copper from 22 metres. These combined results expand the width of the mineralised skarn stratigraphy at Shadow Rose to beyond 100 metres, according to the company.

Blue Rose Corridor Extended to 2.7 Kilometres as MHRC0055 Visual Readings Span 109 Metres

Hole MHRC0055, drilled approximately 220 metres west of the Shadow Rose discovery hole, recorded visual and pXRF anomalous copper oxides from 6 metres to 115 metres, with the hole ending in mineralisation. The company notes assays have been fast-tracked and are expected within two weeks. MHRC0058, the most westerly hole drilled to date, recorded visual and anomalous pXRF copper mineralisation over 14 metres from 42 metres and ended in primary mineralisation, suggesting continued scale to the west. Cobra stated the Blue Rose mineralisation corridor now extends to 2.7 kilometres of strike. A Heritage survey planned for early December will enable western continuity to be drill-tested.

Second Rig to Test Depth Continuity Below Blue Rose West Porphyry Intersection

A larger RC rig is mobilising to test down-dip continuity at Shadow Rose and Blue Rose West, where earlier drilling intersected 32 metres at 0.7% copper and 0.07 grammes per tonne gold from 52 metres within potassic-rich, non-skarn host rocks. The company describes this as the most compelling geological indicator to date for a high-grade potassic porphyry system, citing copper mineralisation beyond the skarn horizon, elevated potassium alteration, and spatial association with a large modelled magnetic body. Managing Director Rupert Verco stated in the announcement that the company aims to deliver scale across multiple prospects through continued drilling in the coming weeks.

Cobra Commences First Drilling at Netley Hill Porphyry Copper-Molybdenum Target

A slim-line RC rig has commenced drilling at the Netley Hill porphyry copper-molybdenum prospect, which the company describes as a large defined porphyry system that has not been advanced for decades. This marks the first Cobra drilling of this target and is designed to test for shallow copper-molybdenum mineralisation. The company separately holds the Wudinna ionic rare earth project, where a maiden JORC-compliant Mineral Resource Estimate of 150 million tonnes grading 470 parts per million total rare earth oxides has been established. Investors will note that visual and pXRF observations disclosed in this announcement are preliminary and not a substitute for laboratory assay results, as the company explicitly cautions.