Cosmo Metals (ASX:CMO) confirms shallow high grade gold at Spring Creek

Cosmo Metals has delivered a substantial technical update from its maiden drilling program at the Spring Creek prospect within the Bingara Project in northern NSW, where the company has confirmed shallow high grade gold mineralisation across a sequence that has seen only sporadic historical exploration.

The results, which represent the first tranche of assays from a wider program, provide a clearer geological picture of a prospect positioned within a 12km corridor of historic workings yet largely untested along much of its strike.

Highlights

• 6.0m at 9.99g/t Au from 11.0m in SCRC016, including 1.0m at 58.3g/t Au from 15.0m.

• Validation of previous high grade intersections including 6.0m at 6.43g/t Au from 8.0m in SC17 and 6.0m at 2.97g/t Au from 19.5m in PDHSC10.

• Results reported from the first 5 holes of a 13-hole program totalling 1,045m.

• Remaining 8 holes designed to test steep feeder zones and the southern extensions of a strong gold–arsenic soil anomaly.

• Spring Creek sits within the 12km Star of Bingara to Lone Hand Trend, which remains untested over 4–5km to the north and south.

The initial drilling was designed to follow up shallow high grade gold recorded in earlier campaigns between 1984 and 1996, which collectively covered only 45 holes for 1,737.2m at an average depth of 38.6m.

The new program, consisting of 13 RC holes, was completed in early November with hole depths ranging from 37m to 151m.

The updated results confirm a consistent mineralised sheet dipping at approximately 10° to 15° to the east and extending over a strike of ~350m and up to 65m in width.

The 6.0m at 9.99g/t Au from 11.0m intersection in SCRC016 stands out, supported by visible coarse gold and significant quartz veining, providing an important geological marker at or just above the metabasalt–sediment contact.

Other intersections such as 1.0m at 1.68g/t Au from 27.0m in SCRC015 and 1.0m at 1.30g/t Au from 33.0m in SCRC018 further define the continuity of the mineralised zone.

Cosmo Metals notes that the southern extent of the prospect appears to host more extensive quartz veining and broader alteration within the metabasalt unit, correlating with a strong gold–arsenic soil anomaly that had not previously been drill tested.

Assays remain pending for SCRC026, which intersected the serpentinite–sediment contact at 131m, the deepest such intersection recorded at Spring Creek to date.

Cosmo’s Managing Director, Ian Prentice, said,

“We are extremely encouraged by the initial results of our maiden drilling campaign at Spring Creek, which validate the shallow high-grade gold mineralisation immediately south of the locus of historic drilling and significantly enhance our understanding of the controls on mineralisation and the broader geological setting, as we step to the south of Spring Creek.”

With the full dataset to be received in coming weeks, Cosmo intends to integrate geological and geochemical information to define the next round of drilling.

The broader Star of Bingara to Lone Hand Trend remains a central exploration focus, supported by plans for systematic sampling and mapping across a largely untested 4–5km strike envelope.

The company is also progressing work across the Mt Everest–Mona trend, where a co-funded geochemistry program is underway.

Taken together, the early Spring Creek results provide a clearer structural and mineralogical framework for future targeting within a historically productive but underexplored gold corridor.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.