Riedel Resources Limited (ASX:RIE) has commenced a reconnaissance drilling program at its 580km² Cosmo Gold Project in the Laverton Gold District of Western Australia, marking the first drilling undertaken on the project in more than 30 years, the company disclosed on 4 November 2026.

Key Points

  • A +7,000m aircore and/or reverse-circulation reconnaissance drill program has commenced at the Ironbar, Toecutter and Cheedo Prospects on the western side of the Cosmo Gold Project.
  • The program consists of 5 east-west oriented drill fences ranging from 200m to approximately 2,000m in length, with approximately 110 holes to be drilled at approximately 40m spacing.
  • Targets were defined using recent regional soil geochemistry surveys that delineated gold-in-soil anomalism extending an aggregate 45km strike length with individual footprints up to 1.8km in width.
  • Drilling is anticipated to continue for three weeks, with further drilling anticipated following receipt and interpretation of results from this round.

Reconnaissance Program at Ironbar, Toecutter and Cheedo Prospects

The drilling program is focused on the western side of the 580km² Cosmo Gold Project, targeting the Ironbar, Toecutter and Cheedo Prospects. Targets are primarily informed by recent regional soil geochemistry surveys, which represent the first broad-scale exploration program ever conducted on the project. Gold-in-soil anomaly target areas are located in relatively flat terrain featuring sand and clay cover of indeterminate thickness, with the depth of cover anticipated to be approximately 50 metres vertically, though it could exceed 100 metres. Interpretation of airborne geophysical surveys suggests the presence of regional-scale structural features and contact zones of mafic-ultramafic volcanic and intrusive-mafic volcanic units proximal to some drill targets.

Drilling Methodology and Sampling Protocol

The program consists of five east-west oriented drill fences ranging from 200 metres to approximately 2,000 metres in length. Approximately 110 holes are planned at a spacing of approximately 40 metres, with drilling continuing until blade or bit refusal at the cover and fresh rock interface where possible. Sampling and logging will be conducted for each one-metre drilled interval, with composites consisting of four by one-metre drilled intervals prepared for gold grade determination at an external analytical laboratory. Composite intervals returning gold assay values above threshold will be submitted for a second analytical round on a single one-metre drilled interval basis for reporting.

Cosmo Project Location and Setting

The Cosmo Gold Project covers a significant portion of the Cosmo Newbery Greenstone Belt, which has a strike extent of more than 50km. The project is located within the Laverton Gold District of Western Australia. The filing states that gold was first discovered at the project area in the 1890s, and numerous historic workings are recorded across the tenure. The project is stated to be in proximity to the Gruyere Gold Mine, the Duketon project and the Golden Highway Trend gold project. The absence of major gold discoveries at Cosmo is attributed in the filing to historical land access constraints and differing commodity priorities of past exploration, rather than any deficiency in geological prospectivity.