Cosmos (ASX:C1X) map frontier at Byro East
November 25, 2022Cosmos Exploration is set to drill multiple high-priority targets following “highly encouraging” airborne electromagnetic (AEM) results” over the Company’s 100%-owned Byro East Ni-Cu-PGE Project in Western Australia earlier this year.
VTEM data showed multiple late-time bedrock AEM conductors delivering 14 high-priority targets atal of 43 potential drilling sites.
AEM-4 and AEM-5 also revealed standout drill targets following on-ground field checks, which confirmed the presence of outcropping ultramafic rocks nearby.
Several of these Priority-1 AEM anomalies coincide with oblate-shaped gravity highs, magnetic highs, and Ni-Cr-Cu mafic litho-geochemical anomalies in soils, elevating the potential the conductors are related to Ni-Cu-PGE sulphides.
Ground field checks have been completed with mafic rocks identified in the vicinity of most EM Priority 1 and 2 target sites.
The Company said its entire AEM coverage is proving to be an essential tool for targeting sulphide-rich Ni-Cu-PGE deposits.
“We now have clearly-defined targets to aim a drill rig at, and we look forward to testing them in the new year,” Executive Chairman Jeremy Robinson said.
“This puts us in an excellent position to search for major nickel-copper-PGE discoveries in a frontier province and, hopefully, to see the huge value creation that can flow from exploration success.”
Locations of Priority 1, 2 & 3 VTEM conductor picks (clusters) over Gravity (left) and RGB late-time EM decay dB/dt Z image of merged channels Ch42-38-36 (right). Priority 1 & 2 bedrock conductors appear in the VTEM decay image as discrete “orange hot spots”. Palaeochannels appear as blue-white coloured areas. More information on the interpretation of RGB decay images can be found at end of the announcement.
Price Action
The Company’s ASX-listed shares are 15c at Market Open.
Next Steps
Grab samples of mafic lithologies have been collected and will be submitted for whole rock analysis and petrography for further classification.
About the Survey
The survey utilised the UTS Geophysics VTEM MAXTM time-domain AEM system, flying a total of 2,395-line-km and covering 602km2 of gneissic-metasedimentary-mafic-ultramafic terrane prospective for magmatic nickel-copper-PGE sulphide-related mineralisation, targeting Julimar and Nova-Bollinger style Ni-Cu-PGE sulphide mineralisation.
About Cosmos Exploration
Cosmos Exploration (ASX: C1X) is an ASX-listed Australian focussed Nickel-Copper-PGE, and Gold-Copper explorer focused on making world-class discoveries at its highly prospective Byro East Nickel-Copper-PGE Project located in Western Australia and Orange East Gold Project located in New South Wales.
Byro East (100% Cosmos) was identified by RareX before the Julimar Discovery and has the potential for mafic-ultramafic intrusion-related nickel-copper and PGE mineralisation.
Orange East (75% Cosmos) is an advanced exploration project located on the boundary between the Molong Arc and Hill End Trough within the Lachlan Fold Belt, a central mineral province, within a similar geological setting and along strike from the multi-million-ounce McPhillamys Gold Mine.
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