Cosmo Metals Confirms High-Grade Copper-Gold-Silver at Everest-Mona-Victory Trend

High-Grade Copper and Precious Metals Confirmed at Bingara

Cosmo Metals Ltd (ASX:CMO) has unveiled compelling exploration results from its Everest-Mona-Victory Trend within the broader 20-kilometre Bingara volcanic massive sulphide (VMS) belt in New South Wales. Rock chip sampling has returned multiple high-grade copper assays, with 10 out of 54 samples exceeding 1% copper, including standout hits of 7.94% Cu, 11.65 g/t gold, and 204 g/t silver. These grades highlight a mineralised corridor that combines classic VMS copper-zinc-silver mineralisation with a probable intrusion-related gold and silver overprint, enhancing the prospectivity of the region.

The Mona prospect, a historically mined site, yielded particularly notable results, including a chalcopyrite-bearing lode system with associated high-grade gold and silver. Samples from mine dumps and outcrops confirm robust copper-zinc-gold-silver mineralisation, with massive sulphides showing pyrite dominance and cobalt content, suggesting promising electromagnetic (EM) geophysical targets for future drilling.

Geophysical Surveys and Mapping Highlight 5km Target Corridor

Cosmo's detailed exploration program integrates systematic geological mapping, high-resolution LiDAR, and airborne magnetic surveys. These efforts have delineated a magnetically 'quiet' corridor with suitable stratigraphy and hydrothermal alteration extending over a 5-kilometre strike length. The alteration system indicates potential stacked lodes, which could host multiple mineralised horizons. The Sweet Nell prospect, located about 1 kilometre east of Everest, returned a peak copper grade of 7.94% from oxide samples, underscoring the lateral extent of the mineralised belt.

Soil geochemistry and pXRF surveys have further defined copper anomalies coincident with mapped geological features, supporting the interpretation of a significant VMS mineral system with a secondary intrusion-related gold-silver overprint. This dual mineralisation style is a critical exploration vector for Cosmo, as it broadens the potential economic target beyond traditional VMS deposits.

Advancing Towards First-Ever Drill Testing

With a comprehensive dataset now assembled, Cosmo is progressing towards the first-ever drilling campaign at the Everest-Mona-Victory Trend. Collar positions and high-priority drill targets have been identified at the Mona prospect, with stakeholder engagement and regulatory approvals underway. The initial drilling will likely employ reverse circulation or diamond drilling methods, followed by downhole EM surveys to detect lateral extensions of any massive sulphide bodies.

Managing Director Ian Prentice emphasised the systematic approach underpinning the exploration, stating that the combination of geological, geochemical, and geophysical data has positioned the company to test these high-conviction targets. He highlighted the potential for a belt-scale discovery of high-grade copper and gold mineralisation, with significant scope for expanding the target style within the Bingara tenure.

Pending Assays and Broader Exploration Pipeline

Assay results remain pending for rock chip samples from the Star of Bingara to Lone Hand Gold Trend and the Antimony Gully prospect, which will inform prioritisation of these high-grade gold and antimony targets. Cosmo plans detailed geological mapping and auger soil sampling to refine drill targets in these areas.

Historical data and recent JORC-compliant sampling reinforce the exploration strategy, with no previous drilling recorded in the Everest-Mona-Victory corridor, marking this as a genuinely underexplored opportunity. The company’s integrated approach, blending historical insights with modern survey techniques, aims to unlock the full potential of this compelling VMS and intrusion-related gold system.