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- 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 mineralisation similar to the Julimar and Nova-Bollinger projects
- Executive Chair Jeremy Robinson says the results have exceeded expectations and the company is confident it has found some “first-class” drill targets
- Follow-up exploration is now underway to support a drilling program in October
- Company shares are trading flat at 16 cents at 1:49 pm AEST
Cosmos Exploration (C1X) has identified multiple bedrock conductors at its Byro East nickel-copper-platinum group element (PGE) project in Western Australia.
The company completed an airborne electromagnetic (AEM) survey which covered 2395 line kilometres over the central project area.
The survey used the UTS (Geotech) VTEM Max system and targeted Julimar and Nova-Bollinger style nickel-copper-PGE mineralisation in recently-identified target areas.
From the survey, Cosmos identified 31 late-time bedrock conductors at the Priority one area and 32 early-to-mid-time conductors in the Priority two target area.
Of the late-time conductors, six were considered “standouts”, with two of them located at the Dottyback prospect where a strong 1000-metre-by-350-metre anomaly was identified earlier this year.
The company said bedrock conductors may represent “direct detection” sulphide minerals associated with target nickel-copper-PGE mineralisation.
Executive Chairman Jeremy Robinson said the AEM survey results exceeded his expectations.
“We undoubtedly have some first-class Ni-Cu-PGE sulphide drill targets to test in an underexplored terrain of WA that forms a high-grade gneissic belt with known ultramafic related source rocks in a similar setting to the Chalice Gonville discovery to the south-west,” Mr Robinson said.
Cosmos Exploration is now undertaking ground truthing work and follow-up exploration at the Byro East project, as well as modelling of the AEM targets to support drilling later this year.
Company shares closed flat at 16 cents per share.