Cosmo Metals Hits Broad Gold Mineralization Zones at Kanowna Project in Western Australia; Shares Plunge 25%

MT Newswires Live07-31

Cosmo Metals (ASX:CMO) discovered broad zones of gold mineralization at the Kanowna gold project in Western Australia, according to a Wednesday filing with the Australian bourse.

The mineralization was discovered via a completed drilling program for 4,906 meters, which comprised nine reverse circulation holes and 42 air-core holes, the filing said.

The mineralization had yields of up to 8 meters at 0.56 grams per tonne of gold from 132 meters, including 4 meters at 1.01g/t gold from 136 meters in the hole 24KGRC0002, it said.

Shares of Cosmo Metals fell nearly 25% in recent trade.

Price (AUD): $0.04, Change: $-0.01, Percent Change: -24.53%

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