Cosmo Metals’ bid to land a major copper discovery in WA’s vaunted Yamarna belt is under way with the start of its maiden 3000m RC drilling program at the Mt Venn and Eastern Mafic projects this week.

The three-week drill drive by contractor K-Drill will chase high grade zones and extensions to shallow, thick copper mineralisation picked up in a drill program last year by Cosmo’s (ASX:CMO) parent company Great Boulder Resources (ASX:GBR) before its spinoff.

They included a big 46m hit at 0.8% copper from 141m in hole 21MVRC001 including 12m at 1.26% Cu from 155m and 13m at 1.06% Cu from 170m.

The high impact program will also test tantalising targets at Eastern Mafic including Anomaly 13 where a hole in 2018 struck 7.1m at 0.7% Cu, 0.2% nickel and 0.04% cobalt from 260m, with 1m as high as 3.1% Cu.

“The Cosmo team is excited to be embarking on a new RC program designed to follow up successful historical drilling and geophysical targets,” Cosmo MD James Merrillees said.

“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.”

Exploration target, project expansion on the way

The beauty of the Cosmo Metals spin-out is it has enabled Great Boulder to focus on its Mulga Bill gold discovery while enhancing the exploration focus on Mt Venn, which is emerging as a new base metals district some 150km east of the mining hub of Laverton.

The current RC program will help inform an exploration target for Mt Venn being assessed by leading resources consultants Entech.

The IPO has also enabled Cosmo to enhance its focus on the broader regional picture.

The granting of exploration tenement E38/3640 immediately north of Mt Venn, opening 9km of the mineralised horizon where an historical hole picked up 4m at 1.3% Cu, 0.7% NI and 0.06% Co from 33m with no follow-up drilling.

It is ground that is ripe for the picking.

“To quantify this opportunity, we’re pleased to partner with Entech, who will produce an exploration target over the next couple of months,” Merrilees said.

“Importantly, we’re also increasing our landholding with the strategic acquisition of Mt Venn North with several advanced exploration targets substantially adding to the project’s overall prospectivity.”

 

 

 

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.

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