Cosmos Exploration (ASX:C1X) has begun a maiden ‘high-impact’ aircore (AC) and reverse circulation (RC) drilling program at the untested Quintons prospect within its Orange East Gold Project in New South Wales.
The drilling program will comprise up to 1,500m of AC and RC drilling and has been designed to identify bedrock gold-copper mineralisation within an ‘extensive’ package of hydrothermally altered silts and sandstone interpreted to be part of the Anson formation.
This tenure is host to the +2 million ounce (Moz) McPhillamy’s gold deposit which is owned by Regis Resources (ASX:RRL) and situated about 10km along strike to the south.
Cosmos Exploration notes the Quintons prospect is defined by abundant multi-directional quartz veins up to 600m long and 7m wide containing gossanous rocks within an ‘extensive’ hydrothermal sericite halo identified from spectral analysis on outcropping rock chip samples.
Drilling is expected to be completed in the next 14 days, with assays to follow.
Speaking on the beginning of exploration, Cosmos Exploration Executive Chairman Jeremy Robinson says: “Following the commencement of expanded field activities earlier this month, we are excited to announce the start of drilling at Orange East. The Quintons prospect represents an outstanding greenfields gold target, in a world-class jurisdiction just 10km from one of the district’s biggest deposits. We are looking forward to seeing what our drilling can uncover and reporting the results to our shareholders.
“The Quintons prospect represents an outstanding greenfields gold target, in a world-class jurisdiction just 10km from one of the district’s biggest deposits”
This marks the beginning of what we expect to be a transformational year for Cosmos with upcoming exploration activities at our new Corvette East lithium project in the James Bay region of Canada and the Byro East nickel-copper-PGE project in WA.”
The company also notes the prospect occurs at a favourable intersection of the regionally ‘significant’ and mineralised Godolphin fault and north-northeast splay structure. This structural setting is described as analogous to the McPhillamys gold deposit.
Cosmos adds a broad 1km by 1km arsenic-bismuth-antimony-gold (As-Bi-Sb-Au) anomaly in soil and rock chips has been defined over the prospect with maximum rock chip values of up to 3,170 parts per million (ppm) As, 80 parts per billion (ppb) Au, 15.75ppm Bi, and 279ppm Sb.
With maiden drilling now underway, Cosmos Exploration announces it intends to extend the soil.auger coverage across tenement EL8807 in order to target structural domains within prospective lithologies.
Cosmos Exploration is an Australian-focused nickel-copper-platinum group element (Ni-Cu-PGE) and gold-copper (Au-Cu) exploration company focused on making ‘world-class’ discoveries at both its highly prospective Byro East Nickel-Copper-PGE Project in Western Australia and the Orange East project in New South Wales.
The company’s Orange East project represents an advanced exploration project located on the boundary between the Molong Arc and Hill End Trough within the Lachlan Fold Belt, within a similar geological setting and along strike from the multi-million-ounce McPhillamys Gold Mine.
Images: Cosmos Exploration Ltd
