Cosmo Metals (ASX:CMO) has expanded its exploration footprint at the Nundle Goldfield in New South Wales, Australia. A recent light detection and ranging (LiDAR) survey confirmed a cumulative strike length of approximately 2.5km along the Folly Line gold trend. The company plans an initial ground truthing program across the gold mineralized areas and hard rock lodes identified in the detailed LiDAR survey. Cosmo Metals will compile, verify, and analyze historical exploration data in parallel.
The company’s initial focus will be the Hanging Rock area, which contains extensive but underexplored hard rock lodes, deep lead mineralization, and alluvials. Historical records show no modern drill testing in this area. Cosmo aims to assess the extension of deep leads beneath younger basalts and identify potential hard rock sources that were not exploited by historical mining. Cosmo expects this work to lead to systematic rock chip sampling and geological mapping of priority target areas to define drill targets. Managing Director Ian Prentice stated that historical records indicate over 300,000 ounces of gold and 4.3 tonnes of antimony have been recovered from shallow workings at the Nundle Goldfield. Cosmo Metals has a market capitalization of $5.15 million.
