Cosmo Metals Limited has returned a broad mineralised zone of 14m at 0.48g/t Au from 44m, including 1m at 1.17g/t Au from 55m, from the Western Australia Government Exploration Incentive Scheme co-funded diamond hole at the Laguna Verde prospect within the Kanowna Gold Project.

The intersection at Laguna Verde comes from hole LVDD001, a 400m deep conceptual hole targeting a flexure in the interpreted extension of the Fitzroy Fault. The result confirms the continuity of mineralisation approximately 150m up-dip from hole 24KGRC0008, drilled by Cosmo Metals in 2024. Deeper diamond core intervals from LVDD001 included 0.5m at 0.32g/t Au from 199.5m, 1.0m at 0.31g/t Au from 230m, and 1m at 0.60g/t Au from 323m, which are associated with sheared pyritic quartz veins near geological contacts.

“The drilling of the EIS co-funded diamond hole at Laguna Verde, which was conceptual in nature, has confirmed a broad mineralised zone that can be traced over a considerable strike length adjacent to the interpreted Fitzroy Shear, highlighting scope for a mineralised system of scale. The enhanced geological understanding gained from this hole will assist in providing context for the previous drilling and drive targeting for follow up work.”

— Ian Prentice, Managing Director

At the Don Alvaro prospect on the Kanowna Shear, diamond hole DARC002R recovered core from 68m to an end-of-hole depth of 174.1m, supporting previously reported broad anomalous intervals that include 12m at 0.79g/t Au from 30m, including 2m at 3.72g/t Au from 30m in hole DARC001. Geological modelling and data validation are underway at Don Alvaro after the program indicated that the Kanowna Shear may be bifurcated and positioned further northwest than previously targeted.

The expanded drilling campaign at the Kanowna Gold Project consisted of 875m of reverse circulation drilling across six holes and 590m of diamond drilling at Don Alvaro, Laguna Verde, and the Adder prospect. Cosmo completed a fully underwritten $1.55 million entitlement offer in March 2026 to fund near-term drilling at Kanowna and Bingara, while regional exploration activity in the surrounding district includes Lefroy Exploration reporting 8 metres at 3.93 g/t gold from 141 metres at its Mt Martin project in August 2026.

Field teams are currently awaiting the remaining assay results for diamond drilling samples from Adder.

Read the full announcement: Broad Mineralised Zone Confirmed at Laguna Verde