Stocks of the Hour: Minerals 260, Thor Mining, Cosmo Metals

Company News

by Abbey Phillipps

Minerals 260 Limited (ASX:MI6) announced that reconnaissance drilling completed earlier this year has confirmed the potential for its 100%-owned Moora Project and adjacent Koojan JV to host significant PGE mineralisation. The company has confirmed significant bedrock palladium-platinum intersected for the first time at Moora ahead of a major new drilling program. In addition to following up the latest results, the next phase of drilling at Moora and Koojan will test a further 25 targets including several high-priority PGE/copper targets defined by previous geochemical and geophysical surveys. Minerals 260 Managing Director David Richards said, “the intersection of highly anomalous PGE and copper values coincident with a large gravity high confirms this view and we look forward to following up these results as well as testing other priority targets as part of the upcoming drilling program.” Shares are trading 17.7 per cent higher at 36 cents.

The directors of Thor Mining Plc (ASX:THR) have today announced initial drill results from Kelly’s Ridge Prospect, Ragged Range, located in the Eastern Pilbara, Western Australia. The drilling results returned high-grade gold from the silicified altered contact along Kelly’s Ridge. In response, Nicole Galloway Warland, Managing Director of Thor Mining, commented, “this confirms the potential of the site as indicated by historical drilling. Furthermore, with more drilling results to come, we are looking forward to gaining further understanding of the project.” Shares are trading 12.5 per cent higher at 1 cent.

Cosmo Metals Ltd (ASX: CMO) announced their results from a sevenhole RC drilling program at the Company’s Yamarna Copper-Nickel-Cobalt project east of Laverton in the Eastern Goldfields of Western Australia. The program was designed to extend and infill copper-rich sulphide mineralisation hosted within gabbroic rocks of the Mt Venn Igneous Complex. All holes drilled in the program intersected significant (>0.15%) copper mineralisation at targeted depths, with mineralised intervals disseminated to massive and semi-massive sulphides. Cosmo’s Managing Director, James Merrillees commented, “We’ve now encountered thick, shallow, and continuous copper mineralisation in the three programs drilled at Mt Venn in 2022 and the identification of the Minjina prospect supports our view of the region’s prospectivity.” Shares are trading 3.1 per cent higher at 17 cents.

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