Cosmo Metals intersects broad gold zones at Kanowna

Cosmo Metals’ drilling has intersected broad zones of gold at its Kanowna gold project in WA, validating its targeting work

Broad zones of gold mineralisation validate Cosmo Metals’ targeting work. Pic: Getty Images

• Cosmo Metals’ drilling strikes broad zones of gold mineralisation at Kanowna

• Results confirm that the targets are “live structures” associated with the prolific Kanowna shear

• Follow-up drilling of mineralised intersections and/or vectors planned

Special Report: Cosmo Metals’ drilling has returned broad zones of gold mineralisation at its Kanowna gold project in WA’s Eastern Goldfields region, validating targeting work it had previously carried out.

Notable assays from the drill program of nine reverse-circulation and 42 aircore holes totalling 4906m include:

• 32m grading 0.44g/t gold from a down-hole depth of 116m; and
• 8m at 0.56g/t gold from 132m including 4m at 1.01g/t gold from 136m.

Cosmo Metals (ASX:CMO) noted that the results confirmed its belief that the targets are live structures associated with the prolific Kanowna shear.

The new targets identified from aircore drilling at Adder and Tiger, which are both 1.2km long and mineralised on aircore lines ~400m apart, require follow-up aircore and deeper RC drilling.

CMO added that RC drilling at Laguna Verde intersected a broad zone of gold more than 100m away from the historical hole FVRC048 that had returned a 1m intersection at 15g/t gold.

Meanwhile, elevated levels of pathfinder elements analogous to major Eastern Goldfields deposits continue to generate outstanding drill targets.

The Kanowna Gold Project (KGP) covers more than 26km2 across 14 contiguous prospecting licences just 13km from Kalgoorlie.

It is also just down the road from Northern Star’s (ASX:NST) +7Moz Kanowna Belle gold mine, which has a plant nearby, and there’s further optionality with two other plants within a 15km radius as well.

Kanowna showing targets with June 2024 RC holes and selected aircore hole collars. Pic: Cosmo Metals

Unlocking Kanowna’s potential

“The June drilling campaign has delivered broad gold intersections at the Kanowna gold project associated with pathfinder elements typical of major deposits elsewhere in the Eastern Goldfields, validating the company’s targeting work,” Managing Director James Merrillees said.

“Broad zones of mineralisation and alteration at Dugite in holes 24KGRC0001 and 24KGRC0002 are adjacent to newly interpreted splays off the KSZ with follow-up drilling planned to test these structural positions for higher-grade zones.

“The newly identified Tiger and Adder targets demonstrate the northeast-trending splays are ‘live’ structures that have seen no follow up, and the Company is planning infill AC and deeper RC drilling to test these.

“The broad gold and pathfinder intersection in 24KGRC0008 at Laguna Verde is considered important, with mineralisation hosted in felsic-intermediate rocks associated with interpreted extensions of the Fitzroy Shear, the main controlling structure at Kanowna Belle, less than 3km away.”

He added that while hole 24KGRC0009 drilled at Don Álvaro as a 50m step-out from previously identified high-grade zones did not deliver a “knockout punch”, the intersected alteration and mineralisation indicated that the hole had hit a halo of alteration and low-grade gold within a shale, and not the targeted contact.

“Follow up at Don Álvaro will target structural zones adjacent to 24KGRC009 as well as extensions to the north on the greater than 2.5km-long 6-Mile target, which has not seen a drill hole since the 1990s,” Merrillees added.

“With follow-up drilling planned to commence in the coming weeks and funded from current cash reserves, the company is excited to continue unlocking the potential of the KGP.”

Next steps

CMO has submitted 1m splits of the 4m composites for gold and multi-element analysis.

It plans to carry out follow-up drilling of mineralised intersections and/or vectors identified from logged alteration and pathfinder geochemistry.

Further aircore drilling will also be carried out to target newly identified structural splays, associated with the Kanowna Shear, where anomalous gold and pathfinder geochemistry has been identified at the Adder and Tiger targets as well as across the newly acquired 6-Mile target.

Additionally, the Company is reviewing reprocessed geophysical data to target key structural zones that are associated with gold mineralisation.

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.