CMO: Contract Awarded for Drilling at Mona Cu-Au Prospect
Original announcement by asx on
- Company
- Cosmo Metals
- Ticker
- CMO
- Exchange
- ASX
- Region
- New South Wales
- Primary commodity
- Copper
- Secondary commodities
- Gold, Silver, Zinc, Molybdenum, Bismuth, Tellurium
- Document categories
- Drill results, Other
- Extracted
- 2026-09-22 23:20:33 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Cosmo Metals has awarded a contract to Durock Drilling for an 8-hole RC drilling program at the Mona prospect in NSW. The program aims to test high-grade Cu-Au-Ag mineralisation beneath historic mine workings, following up on high-grade grab samples from mine dumps.
Reasoning: The announcement secures a drilling contract to test a high-grade historical target, though the high grades reported are from surface grab samples rather than new drill intercepts.
Positive factors
- Contract awarded for maiden drilling program
- High-grade historical sample results (4.93% Cu, 11.65g/t Au)
- Targeting VMS and intrusion-related overprint
Negative factors
- Results are from historical mine dump grab samples, not new drilling
Facts used in scoring: 6
Classification and evidence
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The high-grade intercepts highlighted are from historical mine dump grab samples, not new drilling results.
Evidence · text
“follow up previously reported mine dump sample results from Mona of up to 4.93% Cu, 11.65g/t Au and 204g/t Ag”
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: The project targets mineralisation beneath and along strike of the historic Mona copper mine.
Evidence · text
“Drill rig secured for maiden testing beneath and along strike of historic Mona copper mine”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Drill Results (6)
Fact 1copperGrade: 4.93Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- copper
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 4.93
- Grade Unit
- %
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: High-grade copper reported from historical mine dump grab samples.
Positive factors
- Exceptional high-grade copper
Negative factors
- Stale data (historical grab samples)
Evidence · text
“up to 4.93% Cu, 11.65g/t Au and 204g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
Fact 2goldGrade: 11.65Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 11.65
- Grade Unit
- g/t
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: High-grade gold reported from historical mine dump grab samples.
Positive factors
- Exceptional gold grade
Negative factors
- Stale data (historical grab samples)
Evidence · text
“up to 4.93% Cu, 11.65g/t Au and 204g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
Fact 3silverGrade: 204Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- silver
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 204
- Grade Unit
- g/t
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: High-grade silver reported from historical mine dump grab samples.
Positive factors
- Strong silver grade
Negative factors
- Stale data (historical grab samples)
Evidence · text
“up to 4.93% Cu, 11.65g/t Au and 204g/t Ag”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
Fact 4copperGrade: 3.2Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- copper
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 3.2
- Grade Unit
- %
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Specific historical grab sample result showing Cu-Zn-Au.
Positive factors
- Coincident base metals and gold
Negative factors
- Stale data (historical grab samples)
Evidence · text
“CBR0005 bearing 3.2% Cu with coincident high-grade zinc of 4.14% Zn and 3.18 g/t Au”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
Fact 5zincGrade: 4.14Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- zinc
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 4.14
- Grade Unit
- %
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Zinc grade from historical grab sample CBR0005.
Positive factors
- Strong zinc grade
Negative factors
- Stale data (historical grab samples)
Evidence · text
“CBR0005 bearing 3.2% Cu with coincident high-grade zinc of 4.14% Zn and 3.18 g/t Au”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
Fact 6goldGrade: 3.18Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CMO
Geometry
- Grade
- 3.18
- Grade Unit
- g/t
Classification
- Sample Type
- surface
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2026-06-02T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Gold grade from historical grab sample CBR0005.
Positive factors
- Gold presence
Negative factors
- Stale data (historical grab samples)
Evidence · text
“CBR0005 bearing 3.2% Cu with coincident high-grade zinc of 4.14% Zn and 3.18 g/t Au”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "23 SEPTEMBER 2026 Cosmo Metals Level 1, 51 Colin St West Perth WA 6005 cosmometals.com.au Telephone: +61 (8) 6400 5301 E"
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.