6m at 9.99 g/t Gold Confirms Spring Creek Potential in Maiden Drilling

Initial Drilling Success at Spring Creek

Cosmo Metals Ltd (ASX, CMO) has reported promising initial results from its maiden reverse circulation (RC) drilling program at the Spring Creek prospect, part of the broader Bingara Project in New South Wales. The first five holes, out of a planned thirteen, have confirmed the presence of shallow, high-grade gold mineralisation, including a standout intercept of 6 metres at 9.99 grams per tonne (g/t) gold starting from just 11 metres below surface.

This intercept notably includes a 1-metre section grading an exceptional 58.3 g/t gold, highlighting the potential richness of the mineralised zone. These results validate previous drilling campaigns conducted decades ago, reinforcing confidence in the prospect's geological model.

Geological Context and Mineralisation Style

The mineralisation at Spring Creek is characterised by a shallow easterly dipping sheet of quartz-carbonate-sericite alteration with veinlets hosting gold, situated near the contact between metabasalt and sedimentary rocks. The gold occurs as both free coarse grains and disseminated sulphides, often associated with quartz veining and alteration zones. The shallow nature of the mineralisation, confirmed by drilling, could offer advantages for future resource development.

The drilling program also aims to test potential steeply dipping feeder zones and extensions of a strong gold-arsenic soil anomaly to the south, areas that have not been previously explored. Pending assay results from the remaining eight holes will provide further clarity on the extent and continuity of mineralisation.

Strategic Exploration Along a Significant Gold Trend

Spring Creek lies within the 12-kilometre-long Star of Bingara to Lone Hand trend, a corridor of historic gold workings that remains largely underexplored, especially over 4 to 5 kilometres to the north and south of Spring Creek. Cosmo Metals is leveraging recent high-resolution LiDAR surveys and historical data to guide systematic exploration along this trend.

Managing Director Ian Prentice expressed optimism about the results, noting that the drilling has enhanced understanding of the controls on mineralisation and the broader geological setting. The company plans to integrate these findings with ongoing geological and geochemical studies to refine targets and guide future drilling campaigns.

Looking Ahead

Beyond Spring Creek, Cosmo Metals is advancing exploration at other key projects, including the Kanowna Gold Project in Western Australia and the Yamarna Project in the Eastern Goldfields region. The company’s multi-front exploration strategy is supported by a strong technical team and co-funding initiatives such as the NSW Government’s Critical Minerals & High-Tech Exploration Program.

As assay results from the remaining holes are awaited, the market will be watching closely to see if the initial high-grade intersections at Spring Creek translate into a substantial resource that could underpin future development.