Cosmo Metals has awarded a contract for drilling at Mona prospect in NSW

• Drill rig secured for maiden testing at historic Mona copper mine
• Drilling to be undertake beneath and along strike
• Targeting high-grade mineralisation with intrusion related overprint
• Initial holes designed to extend through copper rich VMS lode

Cosmo Metals (ASX: CMO) has executed a contract for the first ever drilling program at the Mona VMS high grade base and precious metals prospect at the Bingara project in NSW.

The drilling program will consist of up to eight reverse circulation (RC) holes for 2,200m to follow up previously reported mine dump sample results from Mona of up to 4.93% copper, 11.65 grams per tonne (g/t) gold and 204 g/t silver.

The initial holes are designed to extend through the copper, zinc, gold and silver rich VMS lode position beneath the historic mine into the potential gold-silver rich feeder zone.

Preparations are underway to complete site works at Mona, in line with the approval and local landholder engagement timelines, ahead of drill rig mobilisation.

The drilling program includes up to two holes planned from each of the four approved drill pads.

Initial drilling is designed to target the massive sulphide copper rich zone exploited in the historic workings as well as the potential high grade intrusion related gold and silver overprint in the feeder zone aiming to replicate the grades from the mine dump grab samples.

“The historic Mona VMS mine, one of at least six recorded historic copper VMS mines within the 20km long Bingara VMS trend, is a compelling target to test, with exceptional high-grade gold and silver results associated with high grade copper from material believed to be from the base of the old mine workings,” MD, Ian Prentice, said.

“It is incredibly exciting to be doing the first ever drilling of an old high grade mining field, with the aim of discovering high-grade mineralisation below the existing Mona workings and extrapolating this model across the broader untested historically mined 20km long Bingara VMS Trend.”

CMO is steady at 0.5¢, with a Mkt cap of $3.123M prior to markets opening.

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