Cosmo Metals (ASX:CMO) has confirmed a broad mineralised zone at the Adder prospect following assay results from drilling that tested the southeastern portion of the Kanowna Shear within the Kanowna Gold Project (KGP) in Western Australia.

The Adder drilling program comprised three widely spaced holes — one RC hole and two RC holes with diamond tails — designed to identify mineralised positions along a sparsely tested two-kilometre section of the Kanowna Shear within the KGP.

The southernmost hole at Adder (ADRD003) returned mineralised zones of 15.1 metres at 0.35 grams per tonne (g/t) gold from 189.9m and 12m at 0.35 g/t from 209m, both contained within a broad mineralised black shale-hosted zone of 31.1m at 0.33 g/t Au from 189.9m. This zone sits approximately 100m down dip from a mineralised intersection of 29m at 0.48 g/t from 87m in hole 24KGRC001, which CMO drilled in 2024.

Managing Director Ian Prentice told shareholders that there is negligible drilling below 100m vertical depth along the 1.5km stretch of the Kanowna Shear between holes ADRD003 and ADRD002, both completed in the recent program.

"The drilling at the southern end of the Adder prospect adjacent to Kanowna Shear has identified a large mineralised system, confirming the concept that the Kanowna Shear and associated splays are conduits for gold mineralised fluids," Mr Prentice said.

"Having confirmed the scale potential of the mineralised system, the next steps are to hone in on the structural and lithological traps within this sparsely tested section of the shear with scope to host higher grade mineralisation."

The KGP is considered prospective for high-grade Invincible and Kanowna Belle style deposits. The project is adjacent to Northern Star Resources' Kanowna Belle gold operations tenure, which hosts more than seven million ounces, and is located approximately 13km by sealed road northeast of Kalgoorlie. The Kanowna district was the site of a major gold rush in the late 1890s, and the broader Kalgoorlie region remains one of Australia's most productive gold provinces, part of the highly endowed Yilgarn Craton that hosts numerous world-class gold deposits.

Cosmo's completed drilling campaign at KGP consisted of 875m of RC drilling across six holes and 590m of diamond drilling. This included one EIS co-funded hole at Laguna Verde, two holes at Don Alvaro, and three widely spaced holes along roughly two kilometres of the Kanowna Shear at Adder. The Exploration Incentive Scheme (EIS) co-funding is a Western Australian Government initiative designed to encourage greenfields exploration in underexplored areas of the state.

The company is currently reviewing the results of the recent drilling campaigns at Kanowna to determine follow-up drill targets and proposed work programs across the greater KGP tenement package. The findings come at a time when junior explorers across the Eastern Goldfields are intensifying drill programs amid sustained strength in the gold price, which has traded near record highs in 2024–25.

Prior to market open, CMO shares were steady at 0.6 cents with a market capitalisation of $4.139 million.