Cosmo finds zinc and extends copper strike in Yamarna drill program
Cosmo Metals has extended the strike of base metals discoveries at its Yamarna exploration project to more than 2.4km after a promising RC drilling campaign at the Minjina prospect.
Part of Cosmo’s (ASX:CMO) 100% owned project which is located directly west of the 7.4moz Au Gruyere gold mine, the explorer is awaiting assays on a hole that appeared to show a wide zone of zinc mineralisation on immediate analysis.
Part of the nine-hole, 1627m campaign, drilling intersected multiple zones of Mt Venn style copper and base metals associated with massive and disseminated sulphides in holes MIRC004 and MIRC008.
A portable XRF reading, indicative of mineralisation but not a replacement for lab assay results, confirmed a 49m wide zone of zinc mineralisation from 41m downhole in hole MIRC003.
Drilled 80m east of a historical hole that intersected 12m at 0.8% zinc plus silver and lead, it is inferred to “overprint” Mt Venn style mineralisation in MIRC008, validating Cosmo’s interpretation of a new style of deposit at the Yamarna project, 150km east of Laverton in WA.
Lab assays for over 500 samples are expected early next year, with downhole and surface geochemical surveys planned before a follow up drilling campaign in the March quarter.
Minjina is some 900m north of Cosmo’s shallow Mt Venn copper, nickel and cobalt deposit, which has a strike length of 1.5km.
Cosmo managing director James Merrillees said the company is excited by results from only its first phase of drilling at the Minjina prospect.
“The confirmation of a thickening zone of zinc mineralisation 80 metres from historical hole 17MVRC004 is a vindication of the company’s targeting approach,” he said.
“Although not all holes drilled intersected modelled conductors, the ability to mobilise a DHEM crew while we were drilling allowed us to use these holes as ‘platforms’ leading directly to the discovery of blind Mt Venn-style massive sulphide in MIRC008, which is open.
“We eagerly anticipate laboratory results to support the pXRF data, which will be used to develop our targeting model, and we look forward to getting back out in the field at Minjina with geophysical crews and drill rigs early in the New Year.”
Further drilling has been recommended at the 300-400m long aeromagnetic anomaly tested by MIRC004 and MIRC008, which remain open. MIRC008 was cased for downhole electromagnetic surveying, with crews due back on site in January to identify the extents of its massive sulphides.
Ground gravity and detailed magnetics may also be used before further drilling to target the extents and controls of the system identified in hole MIRC003, where zinc and lead has been identified over almost 50m in the pXRF reading.
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.