Cobra Resources (COBR): Boland ISR development

This situation live

COBR Cobra Resources

£35m · 3.2p · −12% since the first step

17 Nov 2025 · Field hydrology trials completed; resource drilling continuing · −4% until the next step The Company will now continue resource definition drilling, targeting a significant maiden resource estimate to support a scoping study by mid next year.

20 Nov 2025 · Cerium suppression first-pass tests successful · +46% until the next step Additional tests being devised to determine the optimum reagent from a performance and cost basis, including flowsheet sequencing

2 Mar 2026 · Optimised MREC produced; offtake samples await radionuclide tests · −6% until the next step Resource drilling at the Boland and Head prospects (March - April)

9 Mar 2026 · Initial assays from 4 of 18 holes reported · −13% until the next step Results from a further 14 completed RC drillholes are expected throughout March.

25 Mar 2026 · Funded for pre-feasibility; resource drilling well advanced · +7% until the next step Metallurgical work at Boland has surpassed all expectations and resource drilling is well advanced as we now look to take the project through prefeasibility.

14 Apr 2026 · RC results from 16 of 18 holes reported · +3% until the next step A diamond drill rig is booked for late April, with work commencing to re-establish site access shortly

30 Apr 2026 · Resource drilling done; pre-feasibility under way · +0% until the next step Having proven outstanding metallurgy, resource definition drilling was completed at the Boland and Head rare earth prospects in April 2026, with results expected over the coming months.

5 May 2026 · Drilling complete; assays and MRE work under way · −4% until the next step Further results expected across the next 6-8 weeks.

24 Jun 2026 · ~80% of assays in; MRE inputs under way · −9% until the next step Approximately 80% of drilling results have been received to date, with the remaining results due in the coming weeks.

23 Jul 2026 · Awaiting maiden MRE; team strengthened · +12% until the next step A forthcoming maiden rare earth resource estimate will be the catalyst to enter the economic evaluation phase at our Boland in situ recovery rare earth project

11 Sep 2026 · All assays in; ERM engaged for maiden MRE · −12% until the next step ERM was engaged to complete the maiden Mineral Resource Estimate, with a scoping study planned to follow.

24 Sep 2026 · Two of four diamond holes reported; RC follow-up begun · −24% until the next step Next steps: assays are pending from MHDD001 and MHDD003. Up to 6,000m of follow-up RC drilling (52 holes) is now underway across four prospects (Figure 4).

8 Oct 2026 · RC drilling ongoing; 23 of up to 58 holes done · +5% since The assessment of mineralisation has to date been done visually from drill chips and via handheld pXRF. First assays expected in 4-6 weeks

Project milestones

Boland ISR development

RC drilling ongoing; 23 of up to 58 holes done

Next: first assays from slim-line RC programme

Every step · 13

17 Nov 2025 Field hydrology trials completed; resource drilling continuing – The Company will now continue resource definition drilling, targeting a significant maiden resource estimate to support a scoping study by mid next year. ↗
20 Nov 2025 Cerium suppression first-pass tests successful – Additional tests being devised to determine the optimum reagent from a performance and cost basis, including flowsheet sequencing ↗
2 Mar 2026 Optimised MREC produced; offtake samples await radionuclide tests – Resource drilling at the Boland and Head prospects (March - April) ↗
9 Mar 2026 Initial assays from 4 of 18 holes reported – Results from a further 14 completed RC drillholes are expected throughout March. ↗
25 Mar 2026 Funded for pre-feasibility; resource drilling well advanced – Metallurgical work at Boland has surpassed all expectations and resource drilling is well advanced as we now look to take the project through prefeasibility. ↗
14 Apr 2026 RC results from 16 of 18 holes reported – A diamond drill rig is booked for late April, with work commencing to re-establish site access shortly ↗
30 Apr 2026 Resource drilling done; pre-feasibility under way – Having proven outstanding metallurgy, resource definition drilling was completed at the Boland and Head rare earth prospects in April 2026, with results... ↗
5 May 2026 Drilling complete; assays and MRE work under way – Further results expected across the next 6-8 weeks. ↗
24 Jun 2026 ~80% of assays in; MRE inputs under way – Approximately 80% of drilling results have been received to date, with the remaining results due in the coming weeks. ↗
23 Jul 2026 Awaiting maiden MRE; team strengthened – A forthcoming maiden rare earth resource estimate will be the catalyst to enter the economic evaluation phase at our Boland in situ recovery rare earth project ↗
11 Sep 2026 All assays in; ERM engaged for maiden MRE – ERM was engaged to complete the maiden Mineral Resource Estimate, with a scoping study planned to follow. ↗
24 Sep 2026 Two of four diamond holes reported; RC follow-up begun – Next steps: assays are pending from MHDD001 and MHDD003. Up to 6,000m of follow-up RC drilling (52 holes) is now underway across four prospects (Figure 4). ↗
8 Oct 2026 RC drilling ongoing; 23 of up to 58 holes done – The assessment of mineralisation has to date been done visually from drill chips and via handheld pXRF. First assays expected in 4-6 weeks ↗

What is happening

Cobra Resources: Boland ISR development – RC drilling ongoing; 23 of up to 58 holes done. ['RC drilling ongoing; 23 of up to 58 holes done']

In short: Funded Blue Rose drilling began in March 2026; option over Manna Hill was exercised after period end (reported 11 Sep 2026). Diamond holes on 24 Sep 2026 showed porphyry-style copper and molybdenum beyond 300m. On 8 Oct 2026 the RC programme (23 holes done, now up to 58 holes) extended Blue Rose strike to beyond 2.2km and found two new skarn systems, Shadow Rose and Neptune Rose, on visual and pXRF evidence only.
Announced: 17 Nov 2025 · Field hydrology trials completed; resource drilling continuing
Latest: 8 Oct 2026 · RC drilling ongoing; 23 of up to 58 holes done
Pending assays: MHDD001 and MHDD003 select intervals; petrology and petrophysics pending for all four holes
RC programme: Up to 6,000m, 52 holes, four prospects incl. Blue Rose extensions, Netley Hill and Anabama; commenced
Next milestone: First assays from slim-line RC drilling expected in 4-6 weeks from 8 Oct 2026
Programme: 23 holes (~2,000m) completed of up to 58 holes, ongoing
Blue Rose strike: Extended from ~1.6km to beyond 2.2km; open
New discoveries: Shadow Rose (~300m south) and Neptune Rose (~500m north) skarn systems
Evidence basis: Visual and handheld pXRF only; qualitative, not a substitute for assays
Pending: MHDD001 and MHDD003 diamond assays still pending (as at 24 Sep 2026)

What comes next

first assays from slim-line RC programme.

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Also at Cobra Resources

Cobra Resources is developing two South Australian critical minerals opportunities: the Wudinna ionic rare earth project and the Manna Hill copper project.

Cobra Resources – company page →