Cosmo Metals Limited announced results from a downhole electromagnetic (DHEM) survey recently completed at the Company's Yamarna (Mt Venn and Eastern Mafic) and Winchester Projects. Airborne and ground-based electromagnetic (EM) geophysics has been an effective tool to detect buried massive sulphide mineralisation in the Yamarna area, where all EM targets tested by drilling to date are explained by sulphide accumulations, rather than other conductive sources such as graphitic sediments and salt water. Cosmo's DHEM survey was planned to test for `off-hole' conductors at Mt Venn noting that copper (Cu), nickel (Ni) and cobalt (Co) mineralisation at Yamarna is hosted by conductive sulphide minerals (e.g., pyrrhotite-chalcopyrite).

In addition to surveying the five holes (YARC017-YARC021) drilled at Mt Venn in August, the Company took advantage of having the geophysical crew on site to also: Survey two holes drilled at the Minjina base metals target, ~900m north of Mt Venn Survey four holes (20WMRC001-004) drilled at the Winchester JV, 50km NW of Mt Venn, by Great. DHEM surveys of six of the seven holes (YARC017-YARC0212) drilled by the Company in August, defined several strong in-hole conductors coincident with zones of massive sulphide intersected in the August program at Mt Venn. The Company considers these to have been explained by the drilling, which intersected wide sulphide intervals with assay results from this program due in the coming weeks.

Strong off-hole conductors (e.g. YARC021) defined by this survey are under review with further work dependent on the outcomes of ongoing resource evaluation work at Mt Venn.