Cosmo Metals (ASX:CMO) is advancing exploration along a 4km stretch of the Mt Everest–Mona Mine VMS trend, following rock chip sampling that confirmed copper mineralisation at the group’s Bingara Project in New South Wales.
The program returned up to 3.9% and 8.19% copper from partially oxidised sulphide material, as well as up to 15.45% and 24.2% copper from malachite bearing supergene mineralisation, confirming historical findings at the prospect.
Spanning 20km in length with similarities to the Cyprus style deposits, Cosmo has also uncovered evidence of up to 0.95 grams per tonne gold, up to 29.1g/t silver, and up to 508 parts per million cobalt.
Managing Director Ian Prentice says the area has not previously been drilled, offering Cosmo an opportunity to uncover the prospectiveness of the trend.
“Cosmo systematic exploration approach with collection of new data and compilation of previous explorer’s data is demonstrating exceptional value here at the Mt Everest – Mona Mine Trend, identifying extensions to known historical workings as well as defining new previously untested prospective target horizons,” Prentice says.
Earlier this year, the company also conducted a LiDAR survey across the project area of 484.1km2, which identified historical mines and pits trending more than 1.1km at Mt Everest and 1km at the Mona Mine.
Combining these findings with the subaudio magnetotelluric (SAM) survey has allowed Cosmo to streamline its focus on prospective target horizons as it continues to explore the area.
“This work is to be included in the schedule along with the follow up on our high priority targets at Nundle as well as the preparation for our maiden drilling program at Spring Creek,” Prentice tells this news service.
“We are looking to expand mineralisation along strike as well as testing for repletion at depth – a potential layered mineralised system – the drilling will also enable us to increase our understanding of the controls on mineralisation at Spring Creek.”
Cosmo Metals is a gold and base metals explorer focusing on the development of its key projects spanning Western Australia and New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Cosmo Metals
