Cosmos Exploration (ASX: C1X) finds bedrock conductors in Byro East, WA – The Market Herald
- Cosmos Exploration (C1X) identifies bedrock conductors through survey work at its Byro East project in Western Australia
- The airborne electromagnetic survey targeted sulphide-rich nickel-copper-PGE mineralization similar to the Julimar and Nova-Bollinger projects
- Executive Chairman Jeremy Robinson says results have exceeded expectations and company is confident it has found ‘first class’ drill targets
- Follow-up exploration is now underway to support an October drill program
- The company’s shares are trading at 16 cents at 1:49 p.m. AEST
Cosmos Exploration (C1X) has identified several bedrock conductors at its Byro East nickel-copper-platinum (PGE) group element project in Western Australia.
The company conducted an airborne electromagnetic (AEM) survey that covered 2,395 line kilometers over the core project area.
The survey used the UTS (Geotech) VTEM Max system and targeted Julimar and Nova-Bollinger style nickel-copper-PGE mineralization in recently identified target areas.
From the survey, Cosmos identified 31 late bedrock drivers in the Priority 1 zone and 32 mid-early drivers in the Priority 2 target zone.
Of the late drivers, six were considered “standouts”, including two located at the Dottyback prospect, where a strong 1,000 meter by 350 meter anomaly was identified earlier this year.
The company said the bedrock conductors may represent “direct detection” sulphide minerals associated with targeted nickel-copper-PGE mineralization.
Executive Chairman Jeremy Robinson said the results of the AEM survey exceeded his expectations.
“We undoubtedly have first-class Ni-Cu-PGE sulphide drill targets to test in an underexplored WA terrain that forms a high-grade gneissic belt with known ultramafic source rocks in a setting similar to the discovery of Chalice Gonville to the south. -west,” Robinson said.
Cosmos Exploration is currently undertaking follow-up ground-truthing and exploration work on the Byro East project, as well as modeling AEM targets to support drilling later this year.
Shares of the company closed at 16 cents per share.