Cosmo Metals expands the Kanowna Gold Project (KGP) by acquiring three tenements
The tenements cover a further 2.5km extension of the Kanowna Shear Zone, a key structure controlling gold mineralisation in the region
Cosmo will begin a 2,000m reverse circulation (RC) drilling program later this week
Special report: Cosmo Metals has acquired three new tenements to the northwest of the Don Alvo prospect, bringing the company’s total owned area to +26km².
Cosmo Metals (ASX:CMO) Kanowna gold project (KGP), adjacent to Northern Star’s (ASX:NST) Kanowna Belle mine, covers ~20km² in 12 contiguous prospecting licences with heritage agreements in place and very limited historical drilling.
According to CMO managing director James Merrillees, a review of the project led to the recognition there was some “really nice, high-grade gold hits” at the Don Alvaro and Laguna Verde prospects that required follow-up.
“The project has only been explored in a relatively light fashion – there’s no diamond drilling, for example, and just 12 holes in the entire project area have been drilled deeper than 150m, which is unusual for this part of the world,” he told Stockhead.
“We know that NST have made the Velvet and Joplin discoveries adjacent to Kanowna Belle, and between the mine and our project.
“Those are both deeper than 400m below surface and are currently being mined, so there’s a lot of potential at depth.”
New tenements cover extension of Kanowna Shear Zone
CMO has now expanded the KGP with three new tenements immediately along trend and to the northwest of Don Alvara, which returned shallow, high-grade historical drill intersections such as:
44m at 2.4 g/t gold from 24m, including 18m at 5.3 g/t gold from 18m; and
50m at 1.2 g/t gold from 30m to end of hole, including 10m at 4.7 g/t gold from 32m.
The new tenements, which take CMO’s total landholding to more than 26sqkm, cover a further 2.5km extension of the Kanowna Shear Zone, a key structure controlling gold mineralisation in the region.
Drilling planned to test targets later this week
CMO plans to begin a 2,000m reverse circulation (RC) drilling program later this week to follow up areas of known gold mineralisation and test priority targets.
In addition, a 4,000m aircore drilling program will begin after the RC program to test the targets defined by a review of historical data.
“We have substantially expanded the KGP to provide a project footprint of scale within one of the world’s great gold production districts and positioned alongside the 7Moz gold Kanowna Belle gold mine,” Merrillees says.
“We look forward to getting on the ground to complete site preparations for the RC drilling campaign scheduled to start later this week to drill high priority targets at the project which have not been tested below 150m depth.”
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.
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