{"id":11047,"date":"2024-06-18T02:52:56","date_gmt":"2024-06-18T02:52:56","guid":{"rendered":"https:\/\/economicherald.net\/?p=11047"},"modified":"2024-06-18T02:52:56","modified_gmt":"2024-06-18T02:52:56","slug":"ample-opportunity-for-discovery-as-cosmo-expands-gold-drilling-campaign","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11047","title":{"rendered":"\u2018Ample opportunity\u2019 for discovery as Cosmo expands gold drilling campaign"},"content":{"rendered":"<p>Cosmo Metals\u2019 4000m AC drilling campaign to target historic intercepts at Don \u00c1lvaro prospect<br \/>\nProgram will run in tandem with ongoing RC drilling at WKL and Dugite targets<br \/>\nDrilling will test limited historical exploration below 150m<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: Cosmo Metals has kicked off a 4000m AC drilling across the Don \u00c1lvaro prospect at its Kanowna gold project, targeting historical intercepts which showed up to 5.3g\/t gold.<\/strong><\/p>\n<p>The Kanowna Gold Project (KGP) covers over 26km2 across 14 contiguous prospecting licences in WA\u2019s Eastern Goldfields, 13km from Kalgoorlie.<\/p>\n<p>The project is just down the road from <a href=\"https:\/\/stockhead.com.au\/company\/northern-star-resources-nst\/\"><strong>Northern Star\u2019s (ASX:NST)<\/strong><\/a> +7Moz Kanowna Belle gold mine which has a plant nearby and there\u2019s further optionality with two other plants within a 15km radius as well.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Target testing at Don \u00c1lvaro<\/strong><\/h2>\n<p>The AC program will run alongside an <a href=\"https:\/\/stockhead.com.au\/resources\/cosmo-testing-gold-targets-with-drilling-at-kanowna\/\"><strong>already progressing 2000m RC drill campaign<\/strong><\/a> that\u2019s probing historical gold and pathfinder anomalies at the WKL and Dugite targets in the southeast of the project.<\/p>\n<p>The 4000m of drilling will target the Don \u00c1lvaro and Laguna Verde prospects, along with numerous untested surface and shallow anomalies.<\/p>\n<p>These targets, CMO says, are associated with NE trending structures and considered analogous to the structural and geological setting of the Kanowna Belle gold mine to the northeast.<\/p>\n<p>They include widespread surficial and near-surface gold at WKL and Dugite and high-grade gold in historical drilling intersections at Don \u00c1lvaro and Laguna Verde.<\/p>\n<p>The program will also test the association of gold anomalism with structures cutting the NE-trending Kanowna Shear that bisects the KGP from NW to SE.<\/p>\n<p>The programs are expected to take 4-6 weeks.<\/p>\n<p>\u00a0<\/p>\n<p>Kanowna drill targets. Pic supplied: (CMO)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Opportunity and contractor agreements<\/strong><\/h2>\n<p>\u201cWith proven shallow and high-grade historical gold drill intercepts present across the project but limited drilling beneath 150m below surface, there remains ample opportunity to uncover an economic gold deposit at the KGP,\u201d CMO MD James Merrillees says.<\/p>\n<p>\u201cWe\u2019re extremely fortunate that any discovery made will lie within one of the world\u2019s premier gold production districts and on the doorstep of several processing operations and a wealth of support expertise.<\/p>\n<p>\u201cWe\u2019re also pleased to have entered into an agreement with respected local contractor Challenge Drilling for part payment of the RC program to be made in Cosmo shares.\u201d<\/p>\n<p>Challenge Drilling agreed to part-payment in lieu of cash, freeing up funds for further exploration at Kanowna.<\/p>\n<p>Under the terms of the agreement, Cosmo can elect to pay up to 50% of the invoiced costs of the program in Cosmo shares \u2013 priced at a volume weighted average price (VWAP) over a 20-day period leading into the date of invoicing.<\/p>\n<p>\u201cThis represents prudent allocation of the company\u2019s cash reserves and aligns a key contractor with the interests of all shareholders,\u201d Merrillees says.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Cosmo Metals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/ample-opportunity-for-discovery-as-cosmo-expands-gold-drilling-campaign\/\">\u2018Ample opportunity\u2019 for discovery as Cosmo expands gold drilling campaign<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Cosmo Metals\u2019 4000m AC drilling campaign to target historic intercepts at Don \u00c1lvaro prospect Program will run in tandem with ongoing RC drilling at WKL <a href=\"https:\/\/economicherald.net\/?p=11047\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11048,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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