Cosmo Metals expanding operations in NSW

Cosmo Metals (ASX: CMO) has announced that it has acquired the highly prospective Bingarra and Nundle gold, antimony and copper projects in northern NSW along the Peel Fault.

The company’s focus now moves to implementing its exploration strategy across the projects, spanning approximately 743km² across the New England Orogen region.

The New England Orogen extends from northern NSW along the eastern coast of Australia and up to Townsville in Northern Queensland.

The region hosts globally significant orebodies including the nearby Hillgrove gold-antimony deposit and the Mt Morgan gold-copper deposit in Queensland.

Both high-density light detection and ranging (LiDAR) and high-resolution imagery capture surveys have been completed across the full extent of both the Bingara and Nundle tenements.

On ground activities are being implemented to leverage the LiDAR data, with an initial focus on key target areas at the Bingara project.

Cosmos managing director Ian Prentice said that the company is delighted by the acquisition and eager to commence exploration of the asset.

“The Hidden Treasure – Spring Creek Trend presents compelling first-pass drill targets as a follow up to previous shallow and high-grade gold drill intercepts,” he said.

“This is just one of many prospects across a 743km² land package which is hosted in the New England Orogen, host to many of Australia’s most valuable gold, antimony and copper deposits.”

The technical team at Cosmo visited the site during the option period and confirmed the expression of largely untested mineralised systems at both projects.

The LiDAR data will aid in potential extensions of these mineralised systems and support the proposed drilling activities.

The Bingara project covers a contiguous 484.1km² and contains two identified mineralised trends that follow the regional scale Peel Fault system.

The Nundle project covers 259.1km² and contains two key prospective targets also along the regional scale Peel Fault.