Ground electromagnetic surveys are planned along the Mt Venn trend. Pic: via Getty Images.
Cosmo defines exploration target up to 32.3 million tonnes for Mt Venn copper-nickel-cobalt prospect
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Independent geological consultants have defined a copper-nickel-cobalt sulphide exploration target at Cosmo Metals Mt Venn prospect, within the Yamarna project in WA of between 10.2 to 32.3 million tonnes of copper-nickel-cobalt mineralisation with grades ranging from 0.55% to 0.63% copper equivalent.
The exploration target was defined for mineralised zones within 200m of the surface and assumed that Mt Venn could be potentially mined via open-pit mining methods, based on depth from surface, tenor of mineralisation and consideration of analogous deposits.
It also supports Cosmo Metals’ (ASX:CMO) strategy to target Mt Venn ‘satellites’ that have the potential to increase the size and/or improve grade of near-surface mineralisation at Yamarna.
Shallow, sulphide hosted base metals
“This is an outstanding result from several years of work from the Cosmo Metals and Great Boulder Resources (ASX:GBR) exploration teams which highlights the potential for a valuable, shallow, sulphide-hosted base metals deposit at Mt Venn in Western Australia’s emerging Yamarna region,” MD James Merrillees said.
“The identification of additional direct targets from the recently completed ground geophysics program will also assist in enhancing our technical understanding of the system.
Further exploration targeting along the Mt Venn Trend is underway with ground electromagnetic (EM) surveys following up a further nine RC holes completed in late 2022 to assist with target evaluation.
Cosmo is also planning further metallurgical test work in preparation for potential processing and economic studies once exploration target testing activities have been completed.
Confident of Minjina prospect potential
The company has recently completed downhole EM (DHEM) and fixed loop EM (FLEM) surveys used to identify mineralisation horizons to the north of the current exploration target interpretation, with follow-up drill testing planned to test target anomalies.
Cosmo has engaged a drill contractor to mobilise to site early next month to test these targets in addition to the compelling off-hole DHEM target at the Minjina prospect – which intersected 7m at 3.20% zinc, 0.82% lead (4.02% zinc and lead) and 11.84g/t silver from 73m, including 2m at 5% zinc, 1.4% lead (6.4% zinc and lead) and 18.83g/t silver from 76m.
“Our technical team is excited by the opportunity to deliver a company making discovery from targets within the Minjina Prospect ~900m north of the Mt Venn exploration target,” Merrillees said.
“Minjina has already yielded high grade zinc-lead-silver drill intercepts from Cosmo’s initial RC drilling in late CY2022 and drill rigs are being mobilised in the coming weeks to test more high priority targets there.
“We see parallels at Minjina with the mineralisation style and discovery history of the outstanding base metals deposits in the Teutonic Bore District including the Bentley deposit discovered in 2008, which has produced more than 42kt of copper, 318kt of zinc and 13.6Moz of silver from first production in 2010 to August 2021.”
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.
