Cosmos Exploration (ASX:C1X) has identified a new prospective area at Quintons in New South Wales, along strike from the +2Moz McPhillamys gold deposit.
The company undertook exploration activities during February and March this year to identify potential mineralisation to further define the extent of the sericite hydrothermal alteration footprint identified in historical surface rock chip samples.
Cosmos Exploration says its identified significant quartz (+-iron after sulphide) veining, with samples displaying brecciated, stockwork, and massive hydrothermal vein textures.
Its share price closed up 20% today.