Cosmo Metals Ltd has released encouraging exploration results from its Nundle Project in New South Wales, highlighting promising high‐grade gold potential at the Mt Ephraim area. Historical rock chip sampling in the Hanging Rock field yielded anomalously high gold assays—up to 39.1 g/t—alongside significant levels of silver, copper, bismuth, and tellurium. These findings, generated from previous exploration campaigns spanning from the 1980s to the early 2000s, were refined by a high-density LiDAR survey that delineated an estimated 6.7 km of hard rock lodes defined by over 550 historic pits and shafts. The multi-element geochemical signature observed suggests the possibility of large-scale intrusion-related gold-copper mineralisation hosted in the basement Mt Ephraim granodiorite. The announcement emphasizes that while the historical data provide a strong indication of exploration potential in this underexplored district, the results have not yet been validated under modern industry standards. Cosmo Metals plans to prioritize ground truthing in the Mt Ephraim target area, followed by systematic rock chip sampling and detailed geological mapping to define drill targets. Furthermore, the company intends to extend exploration efforts to assess deep-lead deposits under younger basalt overlays and to evaluate hard rock sources previously unexploited by historical mining operations. Investors may view the news with a bullish sentiment given the compelling high-grade assay results and the identification of a new conceptual target that could lead to significant resource discoveries. However, a cautious or bearish outlook is warranted as the historical data requires further validation to meet contemporary reporting guidelines, and considerable exploration work remains before a clear picture of economic viability emerges.