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Cosmos Exploration uncovers high-grade rare earths at Byro East

The date of: 2024-04-24
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Cosmos Exploration (ASX: C1X) has received high-grade rare earth element (REE) assay results in rock chip samples obtained from its 100%-owned Byro East Project in Western Australia.

Total rare earth and yttrium oxide values of up to 2.20% were observed in a sampling program along the Leatherback L1 mineralised trend at Byro East.

The assays also identified levels of up to 33% neodymium and praseodymium, two of the world’s most sought-after REEs.

The better-than-expected results came from the remaining assays of 363 rock chips collected across the central four contiguous, 600 square kilometre Byro East tenements.

The 2.20% result significantly surpasses the previous assay high of 1.09% found in a sample acquired from the Leatherback L2 trend.

The program was designed to test 21 of 70 previously-identified REE geochemical soil anomalies.

Cosmos management believes the combined rock chip results demonstrate the potential for the Leatherback alkaline complex to produce ore-grade mineralisation, particularly along structures interpreted from magnetic imagery.

New trend identified

The recent exploration work at Byro East has also led to the discovery of L5, a fifth REE mineralised trend along the north-western margin of the Leatherback magnetic high.

The new trend is analogous to the L3 trend located 300m to the south-west, indicating the potential extent of the mineralisation.

Cosmos believes that while, L3 and L5 exhibit lower grades compared to the L1 and L2 trends, they represent a strike-extensive and geophysically visible search space, extending the circumference of the 3.5 km long Leatherback magnetic high.

The company now plans to focus on the search for higher grades within this search space, particularly the intersection of cross structures as well as continuing to identify extensions to the L1-L5 mineralised trends and other structures internal to the Leatherback magnetic high.

Multi-element mineralisation

Cosmos has also confirmed the multi-element potential of the Byro East area.

It utilised micro X-ray fluorescence spectroscopy technology on eight previously-assayed samples and identified maps of light rare earth elements (LREE) for cerium and neodymium revealed a strong correlation with monazite, a preferred LREE ore mineral.

At the same time, maps of heavy rare earth elements (HREE) for yttrium showed a strong correlation with xenotime, the preferred HREE ore mineral when present.

Nickel-copper-PGE potential

Cosmos is also following up nickel, copper and platinum group element (PGE) potential.

The company’s programs have included the collection of 26 samples from areas prospective for magmatic nickel-copper-PGE mineralisation.

The most notable of these samples returned an assay of 0.54% nickel.

The company says the proximity of the rock chip sample to versatile time domain electromagnetic (VTEM) conductors is encouraging and could indicate that the VTEM conductors are responding to metal sulphides hosted in mafic rocks beneath the alluvial cover.

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