Cosmo’s confidence boosted by new base metals discovery at Minjina

The first phase of RC drilling at Cosmo Metal’s Minjina Prospect, within the Yamarna Project in WA, has confirmed an ‘outstanding’ zinc-lead-copper-silver discovery.

The mineralisation includes a high-grade zone of 7m at 3.20% zinc, 0.82% lead (4.02% zinc + lead) and 11.84g/t silver from 73m, including 2m at 5% zinc, 1.4% lead (6.4% zinc + lead) and 18.83g/t silver from 76m (MIRC003).

Cosmo Metals (ASX:CMO) says MIRC003 presents a compelling follow up drill target analogous to Aeris Resources’ (ASX:AIS) Jaguar-Bentley zinc-copper deposit – and plans to drill a deeper hole planned to test this target.

The drilling also intersected shallow ‘Mt Venn style’ copper-nickel-cobalt mineralisation over large widths in holes MIRC004 and MIRC008 – including the highest grade cobalt intersection in the Yamarna Project to date of 3m at 0.18% cobalt from 7m in MIRC004.

Potentially a large base metals system

The company interprets the ‘stringer’ or vein style mineralisation intersected in MIRC003 to be within the footwall zone of a deeper, potentially more massive, mineralised system.

“This is an outstanding result from Cosmo’s first drill program at Minjina,” MD James Merrillees said.

“The confirmation of a thickening zone of zinc-lead-silver mineralisation in MIRC003 vindicates the company’s targeting approach.

“Higher grade zones including several metres with more than 6% Zn + Pb and more than 20g/t Ag in the first hole drilled into the area since 2017 suggests this may be the distal edge of a larger system.

“The company see parallels at Minjina with mineralisation and the discovery history of the outstanding base metals deposits in the Teutonic Bore District including the Bentley deposit discovered in 2008, which from first production in 2010 to August 2021 produced more than 42kt of copper, 318kt of zinc and 13.6Moz of silver.”

Geophysics program planned

“The off-hole EM target identified at MIRC003, and the remodelling of several near-miss holes has generated multiple compelling walk-up drill targets,” Merrillees said.

“We expect additional direct targets will be generated by the ground geophysics program commencing in the coming weeks which will also enhance our technical understanding of the system.”

Cosmo plans to conduct:

Downhole EM at drill hole MIRC008 and MIRC006;
Fixed loop EM (FLEM) over MIRC009 and MIRC003; and
Ground gravity survey over the entire Minjina system to better map geology and potentially denser, mineralised zones.

The company has also received proposals from drill contractors to mobilise to site next month to test targets identified from the above geophysical surveys as well as testing the compelling off-hole DHEM target at MIRC003.

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.