Lift off: Cosmo just hit thick and shallow copper zones at Mt Venn

Barely two weeks out of the gate as a listed company and Cosmo Metals (ASX:CMO) is already reporting stellar copper intersections that outstrip previous drilling at its Mt Venn project.

Mineralised intervals in the first four holes – from its six hole reverse circulation program – returned thick and shallow zones of copper mineralisation that are significantly higher grade and wider than historical intersections.

Notable intersections from the company’s drilling are:

46m grading 0.80% copper from a depth of 141m including 12m at 1.26% copper from 155m and 13m at 1.06% copper from 170m (21MVRC001);
23m at 0.74% copper from 158m (21MVRC002);
67m at 0.50% copper from 47m (21MVRC003); and
15m at 0.29% copper from 154m in (21MVRC004).

The company noted that sulphide mineralisation at the Mt Venn copper-nickel-cobalt project within its broader Yamarna project area east of Laverton, Western Australia, extends to surface with very little weathering and has been defined over 1.5km while remaining open down dip and along strike.

The results also support the company’s strategy to generate an Exploration Target for Mt Venn this quarter.

“This is a great start for Cosmo, with the widest high-grade copper hits drilled at Mt Venn to date providing a strong platform to support the definition of an Exploration Target for the project,” managing director James Merrillees said.

“With thick, continuous copper mineralisation including wide zones of +1% copper the company looks forward to testing for extensions and the potential for further high grade, near surface mineralisation at Mt Venn.”

cosmo metals — Cosmo copper drill locations. Pic: Supplied

Taking the road to a copper resource

Cosmo has engaged a well-credentialled resource consulting group to define an initial Exploration Target at Mt Venn.

This will help the company plan further drilling required to define a JORC-compliant resource as well as testing for mineralisation beyond the current drilling limits.

A drilling contractor has already been sourced to commence this program in March to avoid potential weather-related delays in the current fire season.

The company also expects to gain approvals to start exploration at Mt Venn North, which hosts some of the best nickel grades encountered within Yamarna to date.

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.