Cosmo Metals finds copper in all holes at Mt Venn, eyes maiden exploration target
Link copied to
Cosmo Metals has intersected copper sulphides in all RC drill holes at the Mt Venn prospect at its Yamarna project in WA.
The drilling at Mt Venn targeted infill and extensions to shallow, thick copper mineralisation confirmed by the late 2021 drill program which returned wide, higher-grade copper intersections at shallow depths.
The company says the initial exploration target for the prospect is due later this month, with metallurgical studies to commence in the coming weeks.
“The distribution of copper sulphides at Mt Venn – which are visually observed and supported by in-field XRF analysis – is particularly pleasing and we eagerly anticipate confirmation of the tenor of this mineralisation from assay results and imminent follow up RC and diamond drilling,” Cosmo Metals (ASX:CMO) MD James Merrillees said.
The program also included four holes designed to test high potential targets in the adjacent Eastern Mafic prospect with further work pending assay results.
The drill program at Mt Venn included holes designed to test mineralisation down to 200m vertical depth with ~250m deep holes, but a combination of ground conditions and limitations of the contractor’s drill rig meant that these deeper holes had to be deferred.
CMO has now sourced a combined RC/diamond rig better capable of reaching the target depths and a 1,000-1,500m program is planned to commence in July.
The company says this follow-up program will have the benefit of the results of the May program to site and target modelled mineralisation.
Plus, high priority targets have been identified at Mt Venn North – 9km from the Mt Venn mineralised horizon with untested EM targets and historical base metals intersections for follow-up ground testing.
“We’re working in partnership with well renowned consulting group Entech towards a maiden exploration target at Mt Venn which we look forward to delivering in the near term,” Merrillees said.
“The Mt Venn North exploration story is also developing nicely, and we’re excited to follow up on some excellent historical results there.
“We have several opportunities for company-making discoveries and we’re working through the process of unlocking value for shareholders across our exploration portfolio.”
The company is also in discussions with several well-known metallurgical groups to follow up the metallurgical test work completed in 2018 by Great Boulder Resources (ASX:GBR) which demonstrated a simple flowsheet can produce readily marketable copper and nickel-cobalt sulphide concentrates.
The 2018 study achieved a high overall copper recovery of more than 90% in the flotation and leach circuit to produce a 20% saleable copper sulphide concentrate.
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.