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- Cosmo Metals (CMO) unearths wide copper intersections at its flagship Mt Venn copper-nickel-cobalt project in WA
- Results from a six-hole reverse circulation drilling program showed thick, high-grade zones of copper mineralisation
- Cosmo says four holes show higher copper grades and widths compared to previous intersections, supporting its strategy to generate an exploration target for Mt Venn
- Further reverse circulation drilling has been planned for March to identify high grade zones and test targets to extend sulphide mineralisation along strike and at depth
- Cosmo Metals is up 5 per cent and trading at 21 cents
Cosmo Metals (CMO) has unearthed wide copper intersections at its flagship Mt Venn copper-nickel-cobalt project.
The thick, high grade zones of copper mineralisation were intersected in a six-hole, 1116-metre reverse circulation drilling program at Mt Venn within the company’s Yamarna copper-nickel-cobalt project east of Laverton in WA.
Significant finds from the drilling included 46 metres at 0.8 per cent copper and 0.06 per cent nickel from 141 metres.
Sulphide mineralisation was found extended to surface, with very little weathering. This was defined over 1.5 kilometres, remaining open down dip and along strike.
Cosmo said the mineralised intervals in the first four holes demonstrated significantly higher copper grades and widths, compared to previous intersections drilled at Mt Venn.
The company said the drilling results support its strategy to generate an exploration target for Mt Venn this quarter, with proposals from respected resource consultants already under review.
“This is a great start for Cosmo, with the widest high-grade copper hits drilled at Mt Venn to date providing a strong platform to support the definition of an exploration target for the project,” Cosmo Managing Director James Merrillees said.
“With thick, continuous copper mineralisation including wide zones of +1 per cent copper the company looks forward to testing for extensions and the potential for further high grade, near surface mineralisation at Mt Venn.”
Further reverse circulation drilling has been planned for March, which will focus on identifying high grade zones and testing extensional targets to extend sulphide mineralisation along strike and at depth.
Cosmo said its well funded to continue its exploration following a $5.1 million IPO and listing in January.
Cosmo Metals was up 5 per cent to trade at 21 cents at 2:29 pm AEDT.
