- Cosmo Metals (CMO) is set to begin a reverse circulation (RC) drilling program at its Mt Venn and Eastern Mafic projects in WA before the end of the week
- The junior explorer has engaged drilling contractor K-Drill to complete around 3000 metres of RC drilling, with this work expected to take roughly three weeks to complete
- Drilling at the Mt Venn project will target higher grade zones and extensions to shallow, thick copper mineralisation encountered by Great Boulder Resources (GBR) late last year
- The rig will then move to the Eastern Mafic project to test high potential targets which include an EM conductor where previous drilling intersected up to 3.1 per cent copper, 0.2 per cent nickel and 0.04 per cent cobalt
- Cosmo ends the day 37.9 per cent in the green with shares trading at 20 cents
Cosmo Metals (CMO) is set to begin a reverse circulation (RC) drilling program at its Mt Venn and Eastern Mafic projects in WA before the end of the week.
The junior explorer said it had engaged drilling contractor K-Drill to complete around 3000 metres of RC drilling, with this work expected to take roughly three weeks to complete.
Drilling at the Mt Venn project will target higher-grade zones and extensions to shallow, thick copper mineralisation encountered by Great Boulder Resources (GBR) late last year.
This drilling returned results of 46 metres at 0.8 per cent copper from 141 metres, including a 12-metre zone at 1.26 per cent copper from 155 metres and a 13-metre zone at 1.06 per cent copper from 170 metres.
The aim of the upcoming drilling program is to support resource studies, with consulting firm Entech engaged to deliver an initial exploration target during the June quarter.
Following the Mt Venn work, drilling will move to the Eastern Mafic Project to test high potential targets which include an electromagnetic conductor where previous drilling intersected up to 3.1 per cent copper, 0.2 per cent nickel and 0.04 per cent cobalt.
“The Cosmo team is excited to be embarking on a new RC program designed to follow up successful historical drilling and geophysical targets,” Managing Director James Merrillees commented.
“We have the great advantage of previous exploration activity which has identified a substantial, sulphide-hosted base metals system in the Yamarna project which substantially improves Cosmo’s chances of making a meaningful discovery.”
Cosmo has ended the day 37.9 per cent in the green with shares trading at 20 cents.