Cosmo Metals High-Grade Gold Results Confirm Bonanza Discovery

Cosmo Metals Delivers Strong Results from Maiden Spring Creek Drilling Campaign

Cosmo Metals (ASX: CMO) has released final results from its inaugural drilling program at the Spring Creek prospect within its 484.1km² Bingara Project in New South Wales. The Cosmo Metals high-grade gold results demonstrate the exceptional potential of this underexplored system, with the maiden reverse circulation (RC) drilling program consisting of 13 holes for 1,045 metres.

Furthermore, 9 of 13 holes intersected gold mineralisation, establishing a strong hit rate for the exploration campaign. The standout result came from hole SCRC016, which intersected 6.0m at 9.99 g/t Au from 11.0m, including a spectacular 1m at 58.3 g/t Au from 15m.

This bonanza-grade intersection establishes Spring Creek as a genuine high-grade gold target within the broader 12km Star of Bingara to Lone Hand trend. The Cosmo Metals high-grade gold results confirm the presence of a structurally controlled mineralised system with significant exploration potential.

High-Grade Continuity Confirmed at Southern End

The drilling programme successfully confirmed the shallow easterly dipping continuity of the high-grade mineralised horizon at Spring Creek's southern end. SCRC026 returned 1.0m at 2.31 g/t Au from 17m, positioned approximately 25 metres down dip from the previously reported exceptional intersection in SCRC016.

This result demonstrates the geological continuity of the mineralised system and provides critical targeting information for future drill campaigns. In addition, the intersection occurs within the same structural and lithological setting as the bonanza-grade zone, reinforcing the potential for discovering additional high-grade blocks along this trend.

Structural Discovery Opens New Target Areas

A key breakthrough from the drilling programme was the identification of an interpreted cross fault extending southwest from the high-grade SCRC016 block. This structural feature appears to offset the geological sequence and potentially creates repetitions of the mineralised system in new target areas.

Mineralisation has been intersected south of this interpreted structure, including 1.0m at 0.83 g/t Au from 24m in SCRC022. However, the most significant implication is the potential for structural repetitions of high-grade zones.

The company has identified priority target positions for potential structural repetitions of the high-grade SCRC016 block:

• South of SCRC022: Area of increased historical workings intensity
• West of SCRC020: Proximal to the interpreted serpentinite contact

The excessive water inflows encountered in holes SCRC024 and SCRC025 support the presence of this cross-cutting structure. Moreover, this structural feature could prove crucial for targeting future high-grade discoveries throughout the system.

Understanding Orogenic Gold Systems

Orogenic gold deposits form during mountain-building processes when hot, gold-bearing fluids are driven along fault systems and structural corridors. These systems typically develop in multiple stages, creating both high-grade shoots within structural traps and broader zones of dispersed mineralisation.

At Spring Creek, the gold mineralisation is hosted in sheared quartz-carbonate-sericite alteration zones at or adjacent to the contact between sedimentary rocks and overlying metabasalt. This geological setting is characteristic of orogenic gold systems, where structural preparation creates fluid pathways that concentrate gold-bearing solutions.

The shallow easterly dipping orientation (10-15 degrees) of the mineralised horizon at Spring Creek is typical of many orogenic gold deposits. These deposits form where folding and faulting create optimal fluid flow conditions.

The presence of bonanza grades associated with quartz-carbonate veining indicates focused fluid flow zones that represent prime exploration targets. Furthermore, these geological controls provide a systematic exploration framework for the broader project area.

Orogenic gold systems form when hot, metal-rich fluids flow through fracture networks during mountain formation. These fluids deposit gold in zones where geological conditions slow or stop the flow, creating concentrated mineral deposits.

Strategic Positioning Within 12km Trend

The Cosmo Metals high-grade gold results reinforce the exceptional potential of the Star of Bingara to Lone Hand trend, a 12km corridor of historic gold workings. This high-intensity trend shows no previous drilling recorded for the 4-5km strike length north and south of Spring Creek.

The geological understanding gained from the 2025 drilling campaign provides a robust exploration model for systematic targeting along this extensive corridor. In addition, the identification of structural controls and geological settings associated with high-grade mineralisation will guide future exploration efforts.

"With this knowledge to be applied to not only the follow up work at Spring Creek but also to the discovery opportunities within the broader 12km long Star of Bingara to Lone Hand high intensity trend of historic workings. This high conviction target area is incredibly underexplored outside of the immediate Spring Creek prospect," said Ian Prentice, Managing Director.

The systematic approach developed at Spring Creek can now be applied across the broader corridor, creating multiple high-impact discovery opportunities. Furthermore, the extensive untested strike length represents significant exploration upside potential.

What Makes This Discovery Programme So Compelling?

The Cosmo Metals high-grade gold results establish several compelling technical advantages that position the company for systematic exploration success:

Proven High-Grade System: The 6.0m at 9.99 g/t Au intersection demonstrates the presence of bonanza-grade mineralisation within a structurally controlled system.

Robust Geological Model: The company has developed a comprehensive understanding of structural controls, alteration patterns, and geochemical signatures that can be applied systematically.

Extensive Target Portfolio: With 4-5km of strike length along the high-intensity historic workings trend remaining untested, the exploration upside potential is substantial.

Strategic Location: The New South Wales location provides excellent infrastructure access and regulatory certainty for exploration advancement.

However, the most significant advantage is the systematic exploration approach that can be replicated across multiple target areas within the broader trend.

Comprehensive Exploration Pipeline Ahead

Cosmo has outlined a systematic approach to advancing the Bingara Project based on the Spring Creek drilling insights. The programme includes both near-term follow-up work and longer-term regional exploration initiatives.

Spring Creek Follow-Up Programme

The immediate priorities focus on expanding the known high-grade mineralisation through targeted exploration:

• Ground truthing of interpreted structural repetition zones
• Refined geological and structural understanding integration
• Planning for follow-up drilling of high-grade target areas

Regional Exploration Strategy

The broader exploration programme will systematically evaluate the 12km Star of Bingara to Lone Hand trend:

• Systematic rock chip sampling and mapping along the entire corridor
• Drill target definition for untested 4-5km strike extensions north and south of Spring Creek
• Application of Spring Creek geological model to broader corridor targeting

Mt Everest-Mona VMS Programme

The parallel copper exploration programme provides additional discovery potential:

• Processing of systematic geochemistry results (early 2026)
• 4km+ copper target corridor evaluation
• NSW Government co-funded Critical Minerals exploration programme

Investment Thesis: Underexplored High-Grade Gold System

The Cosmo Metals high-grade gold results establish multiple compelling investment catalysts that position the company for systematic discovery success. The combination of proven high-grade mineralisation, extensive untested target areas, and robust geological understanding creates multiple pathways to value creation.

Systematic Exploration Approach: The company has developed a comprehensive geological model based on structural controls, alteration patterns, and geochemical signatures. This framework can be systematically applied across the 12km trend, creating multiple high-impact drilling opportunities.

Dual Commodity Strategy: The parallel advancement of VMS copper targets at Mt Everest-Mona provides additional discovery potential in a high-demand commodity. This diversification reduces exploration risk whilst maintaining substantial upside potential.

Strong Technical Foundation: The integration of LiDAR mapping, structural geology, and geochemical datasets provides a comprehensive exploration framework. Moreover, the systematic approach reduces exploration risk whilst maximising discovery potential.

The confirmation of down-dip continuity at SCRC026, positioned 25 metres below the exceptional SCRC016 intersection, demonstrates geological control and systematic exploration success.

Why Should Investors Monitor Cosmo Metals Closely?

Cosmo Metals has positioned itself as a systematic explorer with a high-conviction target portfolio in New South Wales' underexplored New England Orogen. The company's methodical approach to targeting, combined with strong geological controls and proven high-grade mineralisation, creates multiple pathways to discovery success.

The 12km Star of Bingara to Lone Hand trend represents one of the most compelling gold exploration opportunities in the region. Extensive historic workings indicate a substantial mineralised system that has received minimal modern exploration attention.

With systematic rock chip sampling and mapping programmes planned for 2026, followed by drill target definition across the broader corridor, Cosmo is building toward multiple high-impact drilling campaigns. These programmes could significantly expand the known mineralisation footprint and establish multiple high-grade discovery zones.

The identification of cross-cutting faults that may repeat high-grade zones provides a clear technical framework for future discovery efforts. Furthermore, this structural understanding creates systematic targeting opportunities across the broader project area.

The Cosmo Metals high-grade gold results at Spring Creek have demonstrated bonanza-grade mineralisation within a 12km trend that remains 90% untested. With a systematic exploration approach, proven geological model, and multiple discovery pathways ahead, the company offers compelling exposure to both near-term drilling catalysts and longer-term discovery potential in an underexplored gold system.

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