Cosmo Metals (ASX:CMO) has completed its acquisition of the Bingara and Nundle gold-antimony and copper projects in New South Wales.
Both projects cover a combined area of 743km2 and represent large, camp-scale exploration opportunities with evidence of high-grade multi-commodity mineralisation.
The company will now focus on implementing its exploration strategy across both projects, with initial on ground activities focused on Bingara.
A light detection and ranging (LiDAR) survey has recently been completed, which will provide LiDAR coverage for the first time across the full extent of both projects.
The data will be processed to generate an accurate land surface digital terrain model enabling viewing of topographic contours and an accurate 3D land form model.
Comso says this data will be used as a base layer to enhance the efficiency and fast-track geological mapping, surface geochemical sampling, and design a follow-up drilling program to test historical gold exploration results.
A geological mapping and sampling program is planned at the Spring Creek gold trend at Bingara, which aims to refine targeting for the proposed drilling program.
Further, an initial phase of geological mapping and rock chip sampling is being proposed for the Evan and Corrigan targets in the northwest of Bingara. This work is designed to confirm the extent of historical workings, as well as potential mineralisation where antimony-gold and tungsten production has been reported.
Managing Director Ian Prentice says the company is excited to have completed the acquisitions and can begin its exploration at these under-explored assets.
“The Hidden Treasure — Spring Creek trend presents compelling first-pass drill targets as a follow-up to previous shallow and high-grade gold drill intercepts,” Prentice says.
“This is just one of many prospects across a 743km2 land package which is hosted in the New England Orogen, host to many of Australia’s most valuable gold, antimony and copper deposits.”
The New England Orogen, which extends from northern New South Wales along the eastern coast of Australia up to Townsville in northern Queensland, hosts orebodies such as the Hillgrove gold-antimony deposit and the Mt Morgan gold-copper deposit.
Bingara, covering 484.1km2, contains two sub-parallel broadly north-south trending mineralised trends that follow the regional scale Peel Fault system, while Nundle, covering 259.1km2, straddles the regional scale Peel Fault and contains two key prospective target areas.
Cosmo Metals is a mineral explorer focused primarily on gold, antimony, and copper.
Write to Aaliyah Rogan at Mining.com.au
Images: Cosmo Metals
