Cosmo Metals (ASX:CMO) has received high-grade assay results from its latest drilling program at the Kanowna Gold Project (KGP) in Western Australia. The results include significant assays from a broad mineralised zone intersected in a WA government co-funded Exploration Incentive Scheme (EIS) hole at Laguna Verde, adding further geological context to an area already being tested for scale.

The assays were obtained from diamond tails that tested two targets: Don Alvaro on the Kanowna Shear and Laguna Verde on the Fitzroy Shear.

The WA government co-funded hole at Laguna Verde returned 14m at 0.48 grams per tonne (g/t) gold from 44m, including 1.0m at 1.17 g/t from 55m, within the upper portion of weathered bedrock intersected in the RC pre-collar. This mineralised zone sits approximately 150m up dip of an intersection previously drilled by Cosmo in 2024.

Managing Director Ian Prentice said KGP represents an opportunity for large-scale structural and sediment-hosted gold discoveries and is considered prospective for high-grade Invincible and Kanowna Belle style deposits.

KGP is adjacent to Northern Star Resources' five million ounce plus Kanowna Belle gold operations tenure, approximately 13km by sealed road north east of Kalgoorlie in the Eastern Goldfields. The project covers 32 sq. km of contiguous tenure containing eight km of strike along the Kanowna Shear Zone, which bisects the Panglo Basin sediments.

"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," Mr Prentice said.

"The enhanced geological understanding gained from this hole will assist in providing context for the previous drilling and drive targeting for follow up work. Results from Don Alvaro continue to demonstrate an active mineralised system with indications of structural offsets along the Kanowna Shear to be investigated for future targeting."

Cosmo has completed an expanded drilling campaign at KGP consisting of 875m of reverse circulation (RC) drilling across six holes and 590m of diamond drilling. Two holes were drilled at Don Alvaro, while three holes were widely spaced along two km of the underexplored Kanowna Shear at Adder.

Elsewhere, preparation for Cosmo's upcoming drill program at the Mona copper, gold and silver prospect — the first ever drilling within the 20km long Bingara VMS belt — is advancing. Mona is defined by substantial evidence of historic mining activity, with recent assaying of sulphide-rich samples from mullock dumps at the historic workings returning up to 4.93% copper, 11.65 g/t gold, and 204 g/t silver.

The company is currently progressing the necessary approvals and permits in support of the Mona drilling program.

CMO shares were steady at $0.006, with a market capitalisation of $4.139 million.