COSMO METALS KICKS OFF RC DRILLING AT KANOWNA GOLD PROJECT

New Drilling Campaign Targets Promising Gold Deposits

Cosmo Metals (ASX:CMO) has commenced RC drilling to explore compelling gold targets at the Kanowna Gold Project (KGP).

Located 1.5km west of Northern Star Resources’ (ASX) renowned Kanowna Belle gold mine, which has produced over 5.4Moz of gold since 1993, the KGP project is set to test targets including WKL, Dugite, and extensions of the Don Álvaro Prospect. Historical drill intersections in these areas have revealed significant gold findings such as:

  • 44m @ 2.4g/t Au from 24m, including 18m @ 5.3g/t Au from 18m (FVRC50)
  • 50m @ 1.2g/t Au from 30m to End-of-Hole, including 10m @ 4.7g/t Au from 32m (FVRC052)

The drill program initiates with a 1,000m RC drilling at WKL and Dugite, followed by an approximately 4,000m aircore program aimed at extending and infilling historical drilling along the Kanowna Shear Zone. The final phase will see the RC rig complete a 2,000m drilling program.

The entire drilling initiative is expected to span four to six weeks, with results to be announced as they become available.

Cosmo’s Managing Director, James Merrillees, commented:

The team are excited to be out on the ground drilling after the completion of heritage surveys last week. The rig will be testing gold and pathfinder anomalies defined by historical drilling as well as positions along the Kanowna Shear Zone (KSZ), considered to be a primary control on mineralisation in the area. This will be the first ever drilling greater than 150m depth at WKL and Dugite with only one RC hole previously drilled into a more than 4km length of this major shear position.

Cosmo’s RC program has been broken into two phases with a pause for aircore drilling to extend and infill the historical coverage along the KSZ, before the RC rig returns to test additional targets along trend and any targets defined by the aircore program.

All programs are expected to take 4-6 weeks to complete, and I look forward to updating our shareholders as drill results come to hand.

Read the full announcement

Goldman

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