Corazon Mining defines new nickel zone at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining has received assay results from exploration drilling at the EL Deposit within the company’s Lynn Lake project in Canada.

The results stem from a hole the company announced in April that had intersected sulphide mineralisation and have returned:

–    51 metres at 0.8 per cent nickel, 0.5 per cent copper and 0.02 per cent cobalt.

Mineralisation was intersected at 670 metres down-hole, located at a shallower level and approximately 50 metres to the east of the strong sulphide mineralisation the company discovered in 2011.


That discovery has been the target of the latest round of drilling.

Corazon said the mineralisation identified by the recent drilling is fault bounded and has now opened up the southeast margin of the intrusion as a prospective exploration target.

Individual results returned range up to 3.5 per cent (1m) nickel and 6.3 per cent (0.6m) copper.

Higher grade zones of both primary and remobilized massive sulphide included:

–    4m at 1.8 per cent nickel, 0.7 per cent copper and 0.05 per cent cobalt from 679m;
 
–    2.8m at 1.7 per cent nickel, 2.0 per cent copper and 0.05 per cent cobalt from 687m; and

–    2.0m at 2.5 per cent nickel, 1.1 per cent copper and 0.06 per cent cobalt from 728m.

This was the first hole Corazon has drilled into the eastern margin of the EL Plug, an area that was recently highlighted as prospective by electromagnetic (EM) geophysics.

 

Source: Company announcement

 

“It is extremely encouraging that this hole has intersected such a broad zone of mineralisation proximal to a strong geophysical anomaly,” Corazon Mining said in its ASX announcement.

“The discovery provides the Company with an additional sulphide target within the EL Deposit.”

Corazon said it considers the EL Deposit has good potential at depth, with the deepest mineralised drill intercept to date within the main breccia zone returning:

–    44.8m at 1.6 per cent nickel, 0.7 per cent copper and 0.04 per cent cobalt from 773.9m.

“This mineralisation displays some of the strongest sulphide breccia textures drilled to date,” the company said.

Higher grade zones include:

–    3.9m at 2.8 per cent nickel, 0.2 per cent copper and 0.07 per cent cobalt from 773.9m;

–    11.0m at 2.3 per cent nickel, 1.0 per cent copper and 0.06 per cent cobalt from 784.9m; and

–    11.5m at 2.4 per cent nickel, 0.8 per cent copper and 0.06 per cent cobalt from 807.2m.