6m at 9.99g/t Gold from Maiden Drilling Boosts Cosmo Metals’ NSW Prospects
Cosmo Metals has completed its first drilling program at Spring Creek in NSW after nearly 30 years, revealing high-grade gold mineralisation and identifying a new antimony-rich corridor, supported by government grants to advance exploration.
- Maiden RC drilling at Spring Creek yields 6m at 9.99g/t gold
- Discovery of +8km Antimony Gully trend with high-grade antimony samples
- Government grants support geochemical surveys and deep drilling in NSW and WA
- Kanowna Gold Project drilling co-funded by WA Exploration Incentive Scheme
- Exploration expenditure of $482,000 with $1 million cash on hand
Maiden Drilling Breakthrough at Spring Creek
Cosmo Metals Ltd (ASX – CMO) has marked a significant milestone with the completion of its maiden reverse circulation (RC) drilling program at the Spring Creek gold prospect, part of the broader Bingara Project in New South Wales. This marks the first drilling activity in the Bingara region in approximately three decades. The program, comprising 13 holes totalling 1,045 metres, delivered encouraging results including a standout intercept of 6.0 metres at 9.99 grams per tonne (g/t) gold from 11 metres depth, featuring a bonanza grade 1-metre section at 58.3 g/t gold.
The drilling has validated and extended known high-grade shallow mineralisation and provided new insights into the structural geology, including the identification of cross-cutting faults that may offset mineralised zones. These findings are pivotal for refining exploration models and planning follow-up drilling campaigns along the 12-kilometre Star of Bingara to Lone Hand gold trend.
Antimony Gully Trend Emerges as a Strategic Focus
In parallel with drilling, Cosmo’s interpretation of high-resolution LiDAR data has unveiled a previously unrecognised +8-kilometre-long Antimony Gully trend within the Bingara Project. This corridor hosts clusters of historic antimony workings and has returned rock chip samples with antimony grades up to 5.75%, alongside gold and arsenic anomalies. Antimony’s designation as a critical mineral by the Australian Federal Government elevates the strategic importance of this discovery, positioning Cosmo to capitalise on growing demand for this metal used in flame retardants and battery technologies.
Systematic mapping and geochemical sampling are planned to delineate drill targets along this trend, with early reconnaissance confirming the presence of stibnite mineralisation and hydrothermal alteration indicative of a robust mineral system.
Government Grants Accelerate Exploration Momentum
Cosmo Metals has secured multiple government grants to support its exploration programs. The New South Wales Government awarded up to $50,000 under the Critical Minerals & High-Tech Exploration Program for a geochemical sampling initiative at the Mt Everest – Mona VMS (volcanogenic massive sulphide) trend, a copper-gold-zinc prospective belt within Bingara. This program, completed in late 2025, involved extensive soil sampling and geological mapping to identify concealed mineralisation targets.
Additionally, the Western Australian Government’s Exploration Incentive Scheme (EIS) has co-funded up to $50,000 towards a deep diamond drill hole at the Laguna Verde prospect within the Kanowna Gold Project, located near Kalgoorlie. This drilling aims to test for orogenic gold mineralisation associated with key structural features and is expected to commence in the first half of 2026.
Broader Project Portfolio and Financial Position
Beyond Bingara, Cosmo’s portfolio includes the Nundle Project in NSW, with historic gold production and promising intrusion-related gold signatures at Mt Ephraim, and the Yamarna Project in Western Australia, hosting significant copper-nickel-cobalt mineralisation at Mt Venn. The company is actively exploring options to advance these assets, including potential partnerships to leverage the buoyant copper market.
During the quarter, Cosmo Metals invested $482,000 in exploration activities and ended with a cash balance of $1.0 million, maintaining a solid financial footing to support ongoing and planned exploration initiatives.
Bottom Line?
With maiden drilling success and strategic new targets, Cosmo Metals is poised for a pivotal 2026 exploration campaign that could reshape its NSW and WA prospects.
Questions in the middle?
- Will follow-up drilling at Spring Creek confirm a significant gold resource?
- How extensive and economically viable is the newly identified Antimony Gully trend?
- What impact will government grants have on accelerating Cosmo’s exploration timelines?
