C1X - Cosmos Exploration

[System]

Cosmos Exploration Limited (C1X) is a mineral exploration company committed to increasing shareholder wealth through the acquisition, exploration and development of mineral resource projects throughout Western Australia and New South Wales.

The Company currently has two exploration applications in its name, being E09/2527 and E09/2525 within the Byro East Project area. Upon completion of the Demerger Implementation Deed and Admission (and subject to obtaining Ministerial consent to the transfer in respect of EL8442), the Company will own the rights to the tenements comprising the following projects.

The Orange East Project lies on the boundary between the Molong Arc and Hill End Trough within the Ordovician–Silurian aged Lachlan Fold Belt (which is known to be a major mineral province with a number of significant mines in operation or under development in the near vicinity of the project) and the Byro East Project is located in the Narryer Gneiss Complex in the northern most part of the Western Gneiss Terrane which forms the north western corner of the Yilgarn Craton (which is a globally significant source of gold as well as base metals).

It is anticipated that C1X will list on the ASX during November 2021.

Home | ASX Uranium Explorer | Cosmos Exploration

 

[Dona Ferentes]

Listing date	11 November 2021 12:30PM AEDT ##
Contact details	https://www.cosmosx.com.au/ Ph: (08) 6143 6720
Principal Activities	Mineral Exploration & Development
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	C1X
Capital to be Raised	$5,000,000
Expected offer close date	26 October 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager)

..... not sure if it will list today (11/11)

Cosmos Exploration Pty Ltd (to be renamed 'Cosmos Exploration Limited') was incorporated on 22 March 2021 for the purpose of spinning-out the Orange East Project and Byro East Project. Cosmos is a wholly owned subsidiary of RareX.

Cosmos and RareX propose to enter into a demerger implementation deed , pursuant to which Cosmos will issue RareX 10,000,000 fully paid ordinary shares in Cosmos in consideration for the Spin-out Projects.

 

[Dona Ferentes]

During the quarter, the Company gathered key regional ground gravity, surface geochemical and airborne magnetic/ radiometric datasets over the central tenements reducing the search space for prospective Ni- Cu- PGE mafic host rocks in preparation for the AEM survey flown in June/ July 2022. : (the company did bugger all ?)

• The Company remains well funded with $3.3 million as of 30 June 2022.

Market cap $3.6 million

 

[Boggo]

Is this a potential takeover target due to its tenement location ?

Looking interesting on the daily chart and current depth.

(click to expand)

 

[Dona Ferentes]

interesting ... they've thrown the switch to lithium, notably James Bay in FNQ (Quebec, that is)

The 100% owned Corvette Far East Project is located directly along trend from the exciting recent lithium discoveries made by Patriot Battery Metals (ASX: PMT) at its Corvette Project.

The Project is located just 20 km east of the Corvette Project within the same greenstone belt, where historic large-scale mapped pegmatites remain unexplored, and is prospective for lithium over 15km of strike.

.... $3million in cash at end March.

 

[Dona Ferentes]

so much for putting this one in the back pocket for June tipping comp

 

[Boggo]

They seem to be mining the same vein as AKE, PMT and WR1, significant potential imo (disc - I do hold).

 

[Dona Ferentes]

They seem to be mining the same vein as AKE, PMT and WR1, significant potential imo

And the remoteness/ fire situation is likely to continue until rain?

Exploration activities update – Quebec fire situation
Cosmos Exploration Limited provides the following update on work programs and exploration activities at its Corvette Far East and Laselle Lithium Projects in the James Bay region of Quebec, Canada in light of the current forest fire situation in Quebec.

• The Province of Quebec has requested that all exploration companies cease field activities due to the very high forest fire risk over a large part of the province, which includes the Corvette Far East and Lasalle Properties.
• Cosmos Exploration’s in-country geology team was in the process of mobilising to the Company’s exploration camp located in close proximity to both Projects in Northern James Bay area of Quebec, with helicopters scheduled to arrive later this week.
• To ensure the safety of all of its personnel and in compliance with the Provincial Government’s instructions, Cosmos has delayed mobilisation to site.
• The Company continues to closely monitor the situation to ensure that all Company activities are compliant with relevant governmental decrees and to ensure the safety of personnel associated with the Property.
• The Company remains closely engaged with contractors with a view to re-commencing exploration activities as soon as possible and will provide further updates as information becomes available.

 

[Dona Ferentes]

is it going to be the northern spring before, pick in hand, there are boots on the ground?

Three large, high-priority target areas for lithium-bearing minerals identified at Lasalle, James Bay, Canada

Positive initial results returned from the hyperspectral, remote sensing and airborne magnetic data review, prompting an expansion of the Lasalle claims package to 35km2

Highlights:
• Detailed satellite and hyperspectral analysis designed to detect lithium-bearing minerals has highlighted two new high-priority areas at Lasalle, each of which extend over a strike length of 2-6km and 100-500m width and contain several anomalies.
• As a comparison, similar hyperspectral analysis was conducted over the CV5 lithium discovery by Patriot Battery Metals Inc (ASX: PMT), where anomalies were highlighted over the areas of outcropping lithium pegmatites that are similar to those identified at Lasalle.
• A review of high-resolution aerial orthoimage photography has identified several prominent ‘white patches’, characteristic of pegmatite/ granite outcrops on or close to all three priority target areas.
• From this work, a new priority target 1km long and 100m wide was identified from the hyperspectral work to the south-west of the project. As a result, a new claims area has been secured thereby expanding the Lasalle Project to 35sqkm.
• A high-resolution airborne magnetic survey has now been completed which has delineated several east- and northeast-trending demagnetised features characteristic of pegmatite dykes and highlighted several other target areas for field investigation.
• This work has greatly assisted target ranking for Cosmos’ first helicopter-assisted field program, planned to commence once the fire restrictions are lifted in Quebec. This will include the Company’s maiden rock sampling program on the Project.

 

[Dona Ferentes]

and back to where they were at IPO/ start of 2023.
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as low as 17.5c

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Highly Fractionated Pegmatites Confirm High-Priority Drill Target at Polaris, CFE Lithium Project – James Bay, Canada
Surface sampling and new interpretation of airborne data indicates a substantially expanded target area for spodumene-dominated pegmatites, to be drill tested in the upcoming winter field season.
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wow. so far, what?

 

[Dona Ferentes]

so much for putting this one in the back pocket for June tipping comp

in hindsight ... a good idea to avoid the hopium.
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up 40 per cent today but still underwhelming (unless you like name-dropping)

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James Bay Lithium Projects –Exploration Update

Highlights:
• Multiple work programs progressing on Cosmos’ highly prospective exploration projects located between recent spodumene discoveries made by Loyal Lithium Limited, Brunswick Exploration Inc, the Midland Exploration-Rio Tinto JV and Patriot Battery Metals Inc.
• Detailed in-fill magnetics and LiDAR DEM surveys commencing at Corvette Far East around recently identified highly fractionated pegmatites.
• Ongoing work programs at CFE will assist in refining drill targets and vectoring into spodumene-bearing zones. The drill permitting process has commenced for the upcoming winter drill program.
• Exploration activities also advancing at Lasalle, where extensive pegmatite boulders have been identified as well as high-grade gold mineralisation up to 42.4g/t Au.
• Desktop research at Lasalle indicates that multiple pegmatite dykes were intersected in historical drilling, with no assays for lithium or critical pathfinder metals. These pegmatites represent highly attractive exploration opportunities that require further investigation.
• 9-month extension granted on the Lasalle JV to meet expenditure commitments.

 

[Dona Ferentes]

so much for putting this one in the back pocket for June tipping comp

and glad I put this in the watch n delete pile. A bumpy ride over the last 12 months

$4mill market cap