Corazon Mining Encounters More High-Grade Sulphides at Fraser Lake
THE DRILL SERGEANT: Corazon Mining (ASX: CZN) reported initial results from second phase drilling at the Fraser Lake Complex (FLC), located five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt mining centre in Canada.
Corazon Mining announced initial results from the latest completed hole, FLC-2017-010, which it said has intersected multiple zones of magmatic massive sulphide within a gabbro host with strong pervasive levels of sulphide mineralisation.
Corazon carried out field-analysis using a hand-held XRF of two fine-grained massive sulphide zones, which returned results of 5 per cent to 12 per cent nickel (at approximately 145m downhole) and 2 per cent to 2.5 per cent nickel (at approximately 82m downhole).
The company claimed these early results had substantiated the high nickel tenor of the FLC mineralisation.
“The FLC is an exceptional exploration target,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.
“These rocks are exactly what we would expect to see in a long-lived fertile magmatic sulphide system.
“The sheer volume of sulphide-rich gabbro, along with the high-grade sulphide zones, continues to support and add weight to our belief that this area may host a significant new nickel-copper-cobalt sulphide deposit.”
FLC-2017-010 is the fourth hole Corazon has drilled into the Matrix trend.
The company claims it exhibits similar strong nickel- copper-cobalt sulphide mineralisation to previous holes FLC-2017-002, -003 and -008.
FLC-2017-010 has been drilled to 475m depth and has intersected more zones of magmatic massive sulphide mineralisation than in the previous drilling.
Corazon said these zones are thin, typically less than 0.5 metres and suggest the injection of multiple pulses of sulphide rich magmatic melt.
The four holes completed so far have provided Corazon an initial test of the large Matrix Trend over approximately 400m in strike, at what the company has interpreted to be the far northeastern extents of a feeder zone of more than 1.5 kilometres in length.
The company has reported sulphide mineralisation in all, in what it considers to be a peripheral to the main target, being a large sulphide deposit within the feeder zone of a fertile gabbroic complex.
Email: info@corazonmining.com.au
Website: www.corazonmining.com.au