Cosmo Metals (ASX:CMO) reports Kanowna diamond drill results
Cosmo Metals has announced assay results from the diamond tails that tested Don Alvaro on the Kanowna Shear and Laguna Verde on the Fitzroy Shear at the Kanowna Gold Project.
The drilling program was designed to test geological concepts with potential mineralised structures at Laguna Verde and to identify potential mineralised positions along the extensive strike length of the Kanowna Shear within the project.
Highlights
The WA Government Exploration Incentive Scheme co-funded hole at Laguna Verde returned 14m at 0.48g/t Au from 44m, including 1m at 1.17g/t Au from 55m.
The result confirms continuity of mineralisation in previous Cosmo hole 24KGRC0008 at Laguna Verde, which had an intersection ~150m down dip of LVDD001.
Don Alvaro previously returned 12m at 0.79g/t Au from 30m, including 2m at 3.72g/t Au from 30m.
Results for remaining diamond drilling samples from Adder are expected shortly.
The Kanowna Gold Project covers 32km² of contiguous tenure containing +8km strike of the Kanowna Shear Zone bisecting the Panglo Basin sediments.
The project is adjacent to Northern Star Resources’ +7Moz Au Kanowna Belle gold operations tenure, about 13km by sealed road north east of Kalgoorlie in the Eastern Goldfields of Western Australia.
The structural setting is associated with widespread pathfinder element anomalism and supergene gold identified from shallow drilling.
At Laguna Verde, the 400m deep hole targeted a flexure in the interpreted extension of the Fitzroy Fault, an important structure associated with gold mineralisation at the nearby Kanowna Belle gold mine, proximal to gold in saprolite anomalism.
Previous generally shallow drilling returned highly anomalous gold mineralised intervals including 3m at 5.1g/t Au and 16m at 0.46g/t Au.
The 14m mineralised zone was intersected in intermediate volcanics at the top of bedrock in the RC pre collar and correlates with the mineralised intersection drilled by Cosmo in 2024, around 150m down dip and around 120m to the south along a trend that broadly parallels the interpreted Fitzroy Shear.
The diamond component returned intervals including 0.5m at 0.32g/t Au from 199.5m, 1m at 0.31g/t Au from 230m and 1m at 0.60g/t Au from 323m.
These intervals are generally associated with shear zones at or near geological contacts, with evidence of sheared pyritic quartz veins, and are supportive of widespread mineralised structures in the Laguna Verde area.
Cosmo Managing Director Ian Prentice said,
“The enhanced geological understanding gained from this hole will assist in providing context for the previous drilling and drive targeting for follow up work.”
At Don Alvaro, drilling consisted of 2 holes around 80m apart testing the Kanowna Shear Zone and associated splay structures up to 160m to the west northwest of mineralisation intersected in previous drilling.
The replacement diamond hole returned a gold anomalous zone containing 11.3m at 0.17g/t Au from 110m, including 3m at 0.28g/t Au from 112m.
The data from this drilling, combined with further field observations, indicate that the Kanowna Shear may be bifurcated in this area and lay further north west than the inferred position targeted by the 2 hole program.
Geological modelling and data validation will be undertaken to confirm follow up for this target.
Cosmo is awaiting results from the remaining diamond core samples completed at the Adder prospect, which will be released as they come to hand, before reviewing the results of the recent campaigns to determine follow up work programs.
Selected samples from Laguna Verde will be submitted for multi element analysis to support lithological determination and vectoring of mineralisation, while all data will be reviewed to support potential design of follow up drilling along the Kanowna Shear and Fitzroy Fault targets.