Cosmo Metals obtains encouraging initial RC results from Kanowna Gold Project

• Peak result of 3.72 g/t gold at Don Alvaro
• Initial results from fresh bedrock portions of five RC holes
• Detailed geological logging of diamond drill hole core completed

Cosmo Metals (ASX:CMO) has received encouraging results from the initial batches of assay results from the RC phase of the high impact drilling program at the Kanowna Gold Project (KGP) in WA.

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MD, Ian Prentice, highlighted an intersection of 2.0m at 3.72 grams per tonne (g/t) gold from 30m within a broader zone of 12m at 0.79 g/t from 30m, returned from hole DARC001, around 80m west northwest of previous drilling at the Don Alvaro area.

“These initial batches of assay results from the RC drilling phase of this targeted drilling program at our Kanowna Gold Project are very encouraging, with significant results returned from the RC hole immediately along strike from previous high grade results at Don Alvaro,” he said.

“We are keenly awaiting the balance of the RC results from the pre collar at Laguna Verde as well as the weathered portions of the Don Alvaro and Adder holes.

“We are also eagerly anticipating the results of logging and processing of the diamond core tails that have tested the target mineralised Fitzroy and Kanowna shears at depth.”

The RC phase consisted of six holes for 875m across four diamond hole pre collars and two completed RC holes. Gold assay results have been received for the fresh bedrock sections of five holes; the two holes at Don Alvaro and the three holes at Adder.

Mr Prentice said a broad halo of mineralisation in DARC001 represents one of two step-out holes that have intersected the target shear at Don Alvaro.

Drilling at Don Alvaro consisted of two holes around 80m apart testing the Kanowna Shear Zone and associated splay structures up to 160m to the west northwest of the mineralisation intersected in previous drilling which returned up to 18m at 5.3 g/ from 24m and 10m at 4.7 g/t from 32m.

Hole DARC001 was completed to design depth of 160m, while the RC component of hole DARC002 terminated in an interpreted shear at 108m with a resultant confirmatory diamond drilling reaching a final depth of 174.1m. This diamond hole has recovered core through the interpreted shear and will be sent for assay as priority.

Assays are pending the 100m pre collar on the WA government Exploration Incentive Scheme (EIS) co-funded hole at Laguna Verde and the diamond core from four pre collared holes.

CMO is down 5.56% to 0.9¢. Mkt cap $6.209M.

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