Cobra Extends Manna Hill Copper Corridor Beyond 2.2 Kilometers & Identifies 2 New Skarns

• Copper anomalism intersected approximately 600 meters west of previously known mineralization extends the Blue Rose copper-bearing corridor from approximately 1.6 kilometers to beyond 2.2 kilometers of strike.
• Shadow Rose, a new skarn system approximately 300 meters south of Blue Rose, returned intervals of up to 60 meters of continuous copper anomalism in each of 2 holes.
• Neptune Rose, a new skarn system approximately 500 meters north of Blue Rose, returned copper anomalism within the calc-silicate unit on the interpreted northern limb.
• All 3 zones remain open, with 23 holes (approximately 2,000 meters) completed of a program of up to 58 holes.
• The observations rest on visual logging and handheld portable X-ray fluorescence readings, with first assays expected in 4 to 6 weeks.

Company Overview

Cobra Resources (LSE: COBR) is a South Australian mineral exploration and development company advancing the Wudinna Rare Earth Project and the Manna Hill Copper Project. Manna Hill lies in the Nackara Arc, a copper-gold province where multiple underexplored prospects offer potential for shallow skarn mineralization and deeper porphyry discoveries.

Drilling Extends the Blue Rose Corridor Beyond 2.2 Kilometers

Cobra Resources reported on October 8, 2026, that it has completed 23 holes (approximately 2,000 meters) of a slim-line reverse circulation drilling program at the Manna Hill Copper Project, with up to 58 holes planned and the program ongoing. The program is a low-cost, high-tempo test of the extent of the Blue Rose mineralized corridor. The first 23 holes extended the Blue Rose skarn system along strike and identified copper anomalism in 2 skarn systems not previously drilled.

At Blue Rose, broad copper anomalism intersected approximately 600 meters west of previously known mineralization, lengthening the copper-bearing corridor from approximately 1.6 kilometers to beyond 2.2 kilometers of strike. A hole at Blue Rose West intersected anomalous copper over 32 meters from 52 meters, in an area where a gravity edge anomaly shows structural faulting. Blue Rose, Shadow Rose, and Neptune Rose all remain open.

Shadow Rose & Neptune Rose Add 2 New Skarn Systems

Shadow Rose lies approximately 300 meters south of Blue Rose, where 2 holes testing a stratigraphic repeat each intersected up to 60 meters of continuous copper anomalism. A hole in a transect of 4 intersected strong anomalous copper oxides from 10 to 50 meters and copper sulfides to 70 meters. The target was defined by outcropping skarn alteration along strike 2 kilometers to the east and by shallow air core anomalies.

Neptune Rose lies approximately 500 meters north of Blue Rose on an interpreted northern fold limb of the calc-silicate-hosted skarn. Copper anomalism within the calc-silicate unit confirms, in the company's assessment, the fold-repeat model that generated the target. A hole intersected anomalous copper sulfides from 56 to 62 meters, and a moderate gravity edge high, which represents a discrete change in rock density, defines the target.

Earlier Blue Rose Drilling & the Scale Objective

Earlier drilling at Blue Rose confirmed mineralization along 1.6 kilometers of strike within a calc-silicate skarn, with shallow high-grade intersections that include 47 meters at 2.2% copper and 0.76 grams per tonne gold from 11 meters, and 74 meters at 1.02% copper and 0.25 grams per tonne gold from 70 meters. Deeper drilling delivered intersections indicative of a much larger porphyry system at depth, including 23 meters at 0.63% copper and 0.09 grams per tonne gold from 186 meters.

Managing Director of Cobra Resources, Rupert Verco, described the objective of the campaign and the reason for releasing observations ahead of assays:

"We are reporting these observations ahead of assays because what they say about the scale of the systems at Manna Hill is potentially material. In a single program, we have extended the strike along which copper mineralization is known to occur to beyond 2.2km at Blue Rose and have found it in two new mineralized skarn units we had not previously drilled. The objective of this campaign is to establish a shallow mineralized footprint of the size required to support a substantial resource, and the early indications are consistent with that. The actual grades will be confirmed by assays which should start coming through in 4-6 weeks."

Preliminary Observations & Pending Assays

Mineralization to date has been assessed visually from drill chips by identifying copper oxides, native copper, and chalcopyrite, and through handheld portable X-ray fluorescence (pXRF) readings. Visual estimates are qualitative, and pXRF readings are semi-quantitative, so neither substitutes for laboratory assay results or indicates grade, tenor, or economic significance. Cobra uses pXRF readings to assist geological interpretation, identify relative geochemical trends, and guide sampling.

Next Steps

The program continues with the following milestones:

• First assays from the current program in 4 to 6 weeks.
• 14 additional drill holes at Blue Rose West to test extensions and infill existing drilling.
• Further drilling to test strike continuity of the Shadow Rose target 2 kilometers east of the current intersections.

FAQs (AI-Generated)