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Cosmo Metals Limited ( (AU:CMO) ) has issued an update.
Cosmo Metals has secured a reverse circulation drill rig for the first phase of a high-impact drilling program at its Kanowna Gold Project near Kalgoorlie in Western Australia. The work will test structural and sediment-hosted gold targets defined by supergene gold and pathfinder element anomalism along the Kanowna Shear, including the western extension of the Don Alvaro prospect where prior drilling delivered strong gold intercepts.
A second phase, 400-metre diamond hole at Laguna Verde, will be co-funded under the Western Australian government’s Exploration Incentive Scheme and is aimed at testing orogenic sediment-hosted gold near the interpreted extension of the Fitzroy Fault. The company also corrected an earlier announcement to update the name of its drilling contractor, as it prepares to commence drilling once the rig is mobilised, potentially advancing a compelling gold discovery opportunity in a Tier 1 mining jurisdiction.
More about Cosmo Metals Limited
Cosmo Metals Ltd is an Australian exploration company focused on gold projects in the Western Australian Goldfields. The company’s Kanowna Gold Project lies near Kalgoorlie, close to Northern Star Resources’ large Kanowna Belle mine, and targets structural and sediment-hosted gold mineralisation in a highly prospective district.
Average Trading Volume: 605,723
Technical Sentiment Signal: Sell
Current Market Cap: A$4.71M
See more data about CMO stock on TipRanks’ Stock Analysis page.