Cosmo Metals Ltd (ASX: CMO) has intersected thick, shallow copper mineralisation in a seven- hole (1,550m) RC drilling programme at the company’s Yamarna Cu-Ni-Co project east of Laverton in the Eastern Goldfields of Western Australia.
The programme was designed to extend and infill copper-rich sulphide mineralisation hosted within gabbroic rocks of the Mt Venn Igneous Complex.
All holes drilled in the programme intersected significant (>0.15%) copper mineralisation at targeted depths, with mineralised intervals comprising disseminated to massive and semi-massive sulphides (pyrrhotite>>chalcopyrite) hosted within a mafic (gabbro) to ultramafic (pyroxenite) unit adjacent to the contact with felsic-intermediate volcanics and volcaniclastics.
Significant intervals:
YARC017
17m @ 0.26% Cu from 132m YARC018
2m @ 0.38% Cu from 195m and
1m @ 0.19% Cu, 0.29%Ni, 558ppm Co from 229m YARC020
4m @ 0.23% Cu from 54m and
4m @ 0.17% Cu from 74m and
3m @ 0.26% Cu, 0.21%Ni, 463ppm Co from 97m
YARC021
18m @ 0.48% Cu, 0.12% Ni, 340ppm Co from 142m
YARC022
14m @ 0.23% Cu from 221m YARC023
13m @ 0.46% Cu, 0.11% Ni from 179m including o 1m @ 1.27% Cu from191
“The latest intersections at Mt Venn continue to support our interpretation that Cosmo’s Yamarna projects host a significant mineralised system with potential for economic base metals deposits,” Managing Director, James Merrillees, said.
“We’ve now encountered thick, shallow, and continuous copper mineralisation in the three programmes drilled at Mt Venn in 2022, and the identification of the Minjina prospect, a new ‘blind’ target less than one km to the north of Mt Venn, supports our view of the region’s prospectivity, particularly when looked at with ‘new eyes’.
“Ongoing review of the recently completed MLEM survey is expected to yield further targets and with an RC rig on the horizon we’re looking forward to testing these and the Minjina target in the coming weeks.”
Late last month the company completed a ground based MLEM survey at Yamarna to follow up high priority base metals targets at Yamarna. Airborne and ground-based electromagnetic geophysics has been an effective tool to detect buried massive sulphide mineralisation in the Yamarna area, where all EM targets tested by drilling to date are explained by sulphide accumulations, rather than other conductive sources such as graphitic sediments and salt water.
A total of 32.3-line kilometres of MLEM were surveyed over three target areas:
1. Minjina (8.3line km), ~900m north of Mt Venn, was first recognised as a base metals target from a review of historical drillhole 17MVRC004, drilled in 2017, which intersected:
o 12m @ 0.8% Zn, 3.3 g/t Ag and 0.16% Pb from 48m, including 2m @ 2.13% Zn, 3.56 g/t Ag & 0.39% Pb from 58m
A downhole EM (DHEM) survey of 17MVRC004 and 17MVRC0019 by Cosmo in August 2022, identified a strong off-hole conductor untested by drilling.
At its shallowest the modelled plate is ~60m below surface and a drillhole proposed to test this feature is interpreted to intersect the target at ~190m downhole depth.
Minjina represents an exciting new target for the company given the association of an untested, high conductance (>1,000S) off-hole conductor with historical base metals intersections and widespread Cu anomalism in surface sampling.
The focus of exploration at Mt Venn now turns to the Minjina target 900m to the north of Mt Venn with an RC rig contracted to test this exciting prospect later this month. This programme is expected to include testing of several additional targets currently being reviewed by the company’s technical team.
Cosmo has engaged a Perth-based resource consultancy to review the results from the company’s 2022 drilling at Mt Venn with the aim to provide an initial Exploration Target for the Project. It is expected that this will provide a robust platform for planning further work at Mt Venn as well as more advanced mining and processing studies. This work is expected to be reported late in the calendar year.
For further information please visit: https://cosmometals.com.au/
