Cosmo survey identifies compelling DHEM conductor at Minjina

Cosmo’s downhole electromagnetic survey has identified a strong conductor at the Minjina prospect off-hole from a historical base metal intercept.

Hole 17MVRC004 – drilled by Great Boulder Resources in 2019 and located about 900m north of Mt Venn – intersected a 12m interval grading 0.8% zinc, 3.3 grams per tonne (g/t) silver and 0.16% lead from a down-hole depth of 48m while the new Minjina conductor is modelled about 60m below surface at its shallowest and is associated with a widespread copper auger-soil anomaly.

A ground EM survey at Minjina is poised to start this week. This will also be carried out over high-priority nickel-copper targets at Eastern Mafic and Winchester.

Cosmo Metals (ASX:CMO) managing director James Merrillees said the discovery is exciting as the combination of a strong DHEM conductor with known base metals in previous drilling made Minjina a compelling target as its proximity to Mt Venn could be a game changer in its Yamarna exploration strategy.

“With an RC rig lined up in November to test this target, a crew is out in the field again this week collecting moving loop EM to define further targets at Eastern Mafic and Mt Venn for testing post the Minjina drilling campaign,” he added.

“With results imminent from the August RC program at Mt Venn I am looking forward to a busy period for Cosmo.”

The 2,000m drill program is expected to start later this quarter to test the Minjina target as well as high priority targets at Eastern Mafic and Winchester.

Minjina target

Minjina was first recognised as a base metals target from a review of historical drillhole 17MVRC004.

Mineralisation at the hole is significantly different to previous sulphide intersections in the area with red-orange sphalerite (zinc sulphide) intergrown with subordinate galena (lead sulphide) and chalcopyrite (copper sulphide).

This contrasts with the pyrrhotite-chalcopyrite hosted mineralisation at Mt Venn and supports the presence of a new mineralisation style in the Yamarna project.

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.