Cosmo Metals (ASX:CMO) is progressing exploration along a 4km section of the Mt Everest–Mona Mine VMS trend at its Bingara Project in New South Wales. Cosmo Metals focuses on the exploration and development of gold and base metal projects in Western Australia and New South Wales. Recent rock chip sampling confirmed copper mineralisation, bolstering the company’s efforts in the region.
The sampling program yielded results of up to 3.9% and 8.19% copper from partially oxidised sulphide material. Additionally, samples showed up to 15.45% and 24.2% copper from malachite bearing supergene mineralisation, reinforcing historical findings at the prospect. The area spans 20km and bears similarities to Cyprus-style deposits. Cosmo Metals has also reported evidence of up to 0.95 grams per tonne of gold, up to 29.1g/t of silver, and up to 508 parts per million of cobalt.
Managing Director Ian Prentice stated that the area has not been previously drilled, providing Cosmo Metals with a significant opportunity to assess the trend’s prospectivity. Earlier this year, Cosmo Metals conducted a LiDAR survey across the 484.1km² project area, identifying historical mines and pits extending over 1.1km at Mt Everest and 1km at the Mona Mine.
Combining these findings with a subaudio magnetotelluric (SAM) survey, Cosmo Metals is focusing on high-priority target horizons. The company plans to integrate this data into upcoming schedules, alongside follow-up work at Nundle and preparations for its maiden drilling program at Spring Creek, aiming to expand mineralisation along strike and at depth.
