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Highlights
- Over 550 historical mining features identified at Mt Ephraim
- Multi-element geochemical anomalies suggest gold-copper potential
- Field testing continues at high-priority Nundle Project site
Cosmo Metals (ASX:CMO) is advancing its exploration program at the Mt Ephraim prospect within the Nundle Project in New South Wales, following a high-resolution LiDAR survey that has brought renewed focus to the area’s geological promise. The company is now moving forward with field testing to validate the extensive data collected.
Mapping the Legacy of Historic Gold Mining
The LiDAR survey has unveiled over 550 pits and shafts across a 6.7-kilometre strike length in the Hanging Rock field, revealing a network of historical mining activity. This includes both hard rock lodes and deep-lead areas where hydraulic sluice mining once took place, as well as alluvial gold recovery in the nearby waterways. These insights confirm that the region was once a significant hub for gold extraction, with historical production recorded at approximately 165.66 kilograms.
The Mt Ephraim zone is particularly noteworthy, as it comprises 82,000 square metres of mineralised ground containing six major deep-lead areas and 31 former open-cut gold mines. Geological sampling from these deep leads has uncovered crustiform banded epithermal textures along with visible mineralisation, including chalcocite and malachite—key indicators of copper and gold presence.
Exploration Target Supported by Geochemistry
Geochemical analysis of the LiDAR data points to a broad multi-element anomaly that aligns with earlier exploration findings. This anomaly strengthens the case for large-scale intrusion-related gold-copper mineralisation within the Mt Ephraim area. Such signatures often reflect deeper-seated systems capable of hosting significant metal concentrations.
Previous rock chip sampling at Mt Ephraim yielded anomalous results exceeding 1.76 grams per tonne (g/t) of gold, with standout samples returning grades of 15.7g/t, 20.3g/t, and up to 39.1g/t from quartz vein sources. Additional assays also recorded traces of silver, copper, bismuth, and tellurium—further validating the area's mineral diversity.
Next Steps in Ground Truthing
Cosmo Metals is placing strategic emphasis on continuing its ground truthing at Mt Ephraim, backed by the encouraging LiDAR data. With historical mining signatures, promising geochemical patterns, and high-grade sampling results, Mt Ephraim remains a critical target within the broader Nundle Goldfield.
As exploration efforts ramp up, the company maintains a sharp focus on identifying deeper mineral systems that could unlock long-term resource potential in one of New South Wales’ historically significant mining corridors.
