Cosmo Metals (ASX:CMO) has successfully secured shareholder approval for the acquisition of the Bingara and Nundle gold-antimony and copper projects located in New South Wales. These projects, encompassing a combined area of 743km², present substantial exploration opportunities with evidence of high-grade, multi-commodity mineralization. Cosmo Metals is poised to initiate exploration activities, aiming to capitalize on the under-explored and untested prospective targets within these projects. Cosmo plans to complete LiDAR and high-resolution imagery capture surveys, which will enhance the efficiency of the mapping, surface sampling, and drillhole positioning phase of exploration.
Managing Director Ian Prentice emphasized the company’s commitment to executing a high-impact exploration strategy on these assets. The upcoming activities will mark the first dedicated modern exploration efforts on the projects since the 1990s. Cosmo intends to leverage historical mining and exploration data, alongside the new LiDAR data, to refine prospective targets for upcoming campaigns. A drilling program is also planned to investigate shallow gold mineralization identified in previous drilling, including notable intercepts like 6m @ 6.43 grams per tonne gold from 8m, including 2m @ 17.59g/t gold from 12m. Cosmo Metals is well-funded to support its exploration endeavors, having recently closed a $1.6 million fully underwritten entitlement offer.