Cosmo extends copper strike at Mt Venn to 1.5km with drilling blitz

Cosmo Metals continues to grow the copper profile at its Mt Venn copper-nickel-cobalt project, with new drilling extending its strike length to an extensive 1.5km.

A 12-hole RC drilling program has struck further thick, shallow copper mineralisation at Mt Venn, where mineralisation also tracks down to 250m and measures 400m wide.

Significant new intersections from the nearly 1500m long drill campaign include:

22m at 0.48% Cu, 0.16% Ni and 0.06% Co from 135m in YARC008, including
- 1m at 1.56% Cu, 0.15% Ni and 0.05% Co from 147m
18m at 0.40% Cu from 202m in YARC013 including
- 1m at 1.05% Cu from 215m; and,
23m at 0.30% Cu from 147m in YARC006 including
- 1m at 1.25% Cu from 154m.

That wasn’t the only drilling success on Cosmo’s (ASX:CMO) scoreboard, with a four-hole RC program at the ML13 target identified by an MLEM survey at the Eastern Mafic project hitting 6m at 0.19% Cu from 132m in YARC002 and 10m at 0.2% Cu from 70m in YARC004.

At ML13 copper has been found over a strike length of 250m, with the nearest drillhole some 1km to the south. More will be on the way with RC drilling and ground geophysical surveys planned to start in early August to extend and infill targets at Mt Venn and Eastern Mafic.

“These results provide our exploration team with further evidence that our Yamarna projects host a significant mineralised system with potential for economic base metals,” Cosmo managing director James Merrillees said.

“We’ve now encountered thick, shallow and continuous copper mineralisation over two RC programs and the results at Eastern Mafic give us encouragement that we’re on to another copper system.

“We’re greatly looking forward to following up this work with geophysical surveys to generate more targets at Eastern Mafic and we’ll recommence RC drilling at Mt Venn in the coming weeks with a program designed to test extensions along strike to the north, south and at depth.

“The opportunity for Cosmo to identify world-class base metal deposits at Yamarna remains enormously exciting.”

We’re gonna need a bigger rig

The final hole at Mt Venn was abandoned at 20m due to difficult ground conditions, with the overall program slower than expected due to rig issues, forcing the postponement of six holes testing for deeper copper targets.

Not to worry, a larger capacity rig has now been sourced to complete the program and test extensions that remain open to the north and south as well as down dip from currently drilled sections.

All in all, Cosmo’s drilling efforts have significantly expanded the mineralised envelope to be incorporated into an exploration target study by the explorer’s consultants.

At Eastern Mafic, Cosmo is planning a detailed MLEM survey to cover the entire prospective trend 3km to the south of ML13 towards the Ben Lomond target.

The survey is expected to commence in mid-August and take up to a fortnight to complete with results expected shortly after.

Cosmo also wants to extend drill hole YARC003 to intersect a modelled conductor up dip of 18EMRCD013, which previously struck hits like 7.1m at 0.7% Cu and 0.2% Ni from 282.8m.

This article was developed in collaboration with Cosmo Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.