Cosmos Exploration Enhances Rare Earth Potential Of Byro East

Cosmos Exploration Ltd (ASX: C1X) has confirmed the presence of high-grade rare earth at its Byro East Ni-Cu-PGE-REE Project in Western Australia.

Rock chip assays returned grades of up to 2.20% TREO (total rare earth + yttrium oxide), with a strong presence of valuable neodymium and praseodymium.

Cosmos shares were last trading 13.6% higher intra-day, at A$0.05.

Leatherback Prospect

The Leatherback prospect has emerged as a key area of interest, underscored by rare earth results received in late January 2024.

Building on this success, the company has now received assays from 363 additional rock chips collected across Byro East, further enhancing the potential of Leatherback.

Potential to produce ore-grade mineralisation

Grades of up to 2.20% TREO (33% neodymium and praseodymium) were returned in a rock chip sample collected from the Leatherback L1 mineralised trend.

This result surpasses the previous assay high of 1.09% TREO found at the Leatherback L2 trend.

The latest results further underscore the potential for the Leatherback alkaline complex to produce ore-grade mineralisation, particularly along structures interpreted from magnetic imagery.

Significantly, the strike length of the L1 – L5 surface mineralisation has now expanded to 2.5 kilometres.

Next steps

  • Leatherback site access and drill planning;
  • field checks along strike of L1-L5 TREYO mineralised trends; and
  • field checks surrounding a nickel laterite sample and VTEM conductors.

Cash held by Cosmos on 31 December 2023 was A$1.11 million.

 

 

Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

 

Articles of Interest