Manna Hill Drilling Complete
Cobra Resources plc has completed its initial 3,200-meter drilling program at the Manna Hill Copper Project, intersecting broad zones of primary copper mineralization and molybdenite, supporting the thesis for a large-scale porphyry system. Ten of the eighteen drillholes encountered visible oxide and primary copper mineralization, with molybdenite found in association with porphyry-like intrusions. Results are anticipated in March, and the company is focused on the Blue Rose prospect where previous drilling intersected copper-gold mineralization across 1.6 kilometers. This drilling is part of Cobra's 12-month option to acquire the Manna Hill Project, with positive results expected to trigger the exercise of this option.
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Broad zones of primary copper mineralisation and molybdenite intersections support thesis for large-scale porphyry system
Cobra (LSE: COBR), a South Australian mineral exploration and development company, is pleased to announce that the initial drilling programme at the Manna Hill Copper Project, comprising 18 drillholes totalling 3,200m, has been completed.
Highlights:
- Broad zones of visible oxide and primary copper mineralisation have been intersected within 10 of 18 holes (Figure 1)
- Molybdenite has been intersected in association with porphyry-like quartz monzonite and diorite-like intrusives that support the Company's thesis for a large-scale porphyry system
- Results anticipated through March
Cobra has a 12-month option to acquire the Manna Hill Project ("Manna Hill Option") and is focusing initially on the Blue Rose priority prospect ("Blue Rose") where existing drilling has intersected copper-gold mineralisation across 1.6km of strike immediately adjacent to a geophysical anomaly interpretated as a porphyry intrusion1.
To watch a video of Rupert Verco, Managing Director, discussing drilling, follow the link: https://investors.cobraplc.com/link/P3Dp0y.
Figure 1: Chip trays from MHRC0017 where copper oxides are visually present from 14m to 100m (orange = oxide, white = transitional and yellow = primary) and copper sulphides from 122m to 132m. Porphyry type, quartz monzonite dykes were intersected at 90-98m and 142-144m.
Rupert Verco, Managing Director of Cobra, commented:
"We are eagerly awaiting results of this drilling programme. All indications are positive to deliver further scale to shallow, high-grade mineralisation. Initial observations indicate that we are vectoring towards a porphyry core.
These results will be the catalyst for the board to exercise the Manna Hill Option, which we believe hosts a tier 1 copper discovery.
The team is busily planning our next drilling programme. With resource definition drilling at the Boland and Head rare earth projects anticipated to commence in March, 2026 stands to be an action-packed year!"
The Blue Rose prospect is a skarn-replacement type where previous exploration has defined copper-gold-molybdenum along 1.6km of continuous strike where drilling has defined the previous intersections:
o [RABR822] 47m at 2.2% Cu and 0.76 g.t Au from 11m
o [RCBR025] 132m at 0.52% Cu from 8m including 48m at 1.04% Cu
o [RABR152] 41m at 1.6% Cu from 9m including 18m at 2.03% Cu
o [RABR205] 43m at 0.6% Cu from 12m
o [RCBR030] 52m at 0.77% Cu and 0.94 g/t Au from 80m
o [RABR198] 24m at 1.0% Cu from 18m incl. 3m @ 1.23g/t Au
o [RCBR021] 23m at 1.4% Cu from 73m incl. 12m @ 0.71g/t Au
Geophysics, including gravity, induced polarisation and magnetics, have been used in collaboration with geochemistry to refine the interpretation of both the stratigraphic unit hosting shallow skarn mineralisation, and porphyry mineralisation that is interpreted to envelop a remnant magnetised intrusion. Past exploration has intersected quartz monzonite intrusions proximal to skarn mineralisation, but their relationship and influence on mineralisation is not clearly understood. This RC drilling programme has generated the first pXRF multi-element dataset that has enabled Cobra and its consultants to assess the geochemistry of the system and evaluate the data in the context of a porphyry setting.
Observations from completed drilling support depth continuities of shallow mineralisation whilst also defining key indicators for mineralisation control and system continuity. As a result, five additional holes were drilled to further test for scale and for potassic porphyry mineralisation.
Figure 2: Plan of completed drilling and historical drill intersections.
About the Manna Hill Project
- Cobra RNS: Option to Acquire Significant Copper Project, 26 August 2025
References
- Cobra RNS: Option to Acquire Significant Copper Project, 26 August 2025
Regional map showing Cobra's tenements in South Australia
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Appendix 1: JORC Code, 2012 Edition - Table 3
| Criteria | JORC Code explanation | Commentary |
| Logging | · Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. · Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. · The total length and percentage of the relevant intersections logged. | · Historic logging has been completed with a number of different geological logging codes. These are being translated into a standardized logging format prior to entry into the Cobra Drillhole Database · All holes were qualitatively geologically logged for their entire length by suitably qualified Discover Co geologists and recorded onsite into Discover Co's MX Deposit database. · Mineral Resources have not been estimated; however, the quality of the logging is expected to be suitable for low-confidence resource estimation purposes. · The detail of geological logging is considered sufficient for exploration and resource definition drilling. · Logging included visual estimates for copper oxides and sulphides aswell as pyrite content · All intersections were logged. |
| Sub-sampling techniques and sample preparation | · If core, whether cut or sawn and whether quarter, half or all core taken. · If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. · For all sample types, the nature, quality and appropriateness of the sample preparation technique. · Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. · Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. · Whether sample sizes are appropriate to the grain size of the material being sampled. | Historic · Historic sampling has not been assessed. Current · For each metre a Metzke cone split sample was collected in a calico bag. A portable XRF unit was used to screen a selected interval of 1m RC bulk samples for anomalous copper values. Where copper value readings exceeded ~200 ppm Cu, sampling was conducted at 1m intervals using the Metzke cone split samples. · Weights of samples submitted for assay averaged 2.5 kg and ranged between 1.8 to 4.1 kg. Sample size is considered appropriate for the material sampled. · Commercially certified reference material of known copper grades and of suitable matrix were included in the laboratory assay sequence at a rate of 1 per 50 samples. · First-split duplicate samples were collected at a rate of 1 per 50 samples. · A coarse blank sample was inserted 1 in every 50 samples. · The Competent Person considers that the sample size is appropriate to the grain size of the material being sampled. |
| Location of data points | · Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. · Specification of the grid system used. · Quality and adequacy of topographic control. | Historic · Historic Drillholes were recorded with a number of different datums. · Validation of the datums used for each program have been conducted and are continuing. · The key historic drilling used for planning of the January 2026 drill program have high confidence in the datum used and have been assessed in the field Current · Drill hole locations were determined by handheld GPS with a nominal accuracy of +/- 5 metres. · All coordinates and maps presented here are in the MGA Zone 53 GDA94 coordinate system. · Topographic control is provided by Aerometrex Reigel VQ-780ii Airborne Laser Scanner producing LiDAR digital elevation data at 0.1m accuracy with collar heights extracted from a DTM produced from the LiDAR data. |
| Audits or reviews | · The results of any audits or reviews of sampling techniques and data. | · |
| Appendix 3: Section 2 reporting of exploration results | ||
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status | · Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. · The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. | · Blue Rose is located on EL6009 that is held by Hamelin Gully Pty Ltd. Manna Hill Mining Pty Ltd, a subsidiary of Cobra Resources Plc has a 12-month option to acquire Hamelin Gully. · This drilling forms part of the company's strategy to seek shareholder approval to exercise the option. · A 1% Over Riding Royalty Agreement is registered between Hamelin Gully and Springton Trust A Native Title Agreement is in place between the Wilyakali People and Hamelin Gully Pty Ltd Cultural heritage surveys have been completed over EL6009, clearing proposed drill sites |
| Further work | · The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). · Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | · RC drill program at Blue Rose, Desert Rose and Double Delight in early January 2026 · Follow up diamond drilling at Desert Rose · Greenfields soil sampling program |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.