Corazon Mining intercepts massive sulphides.

THE DRILL SERGEANT: The share price of Australian exploration company Corazon Mining has continued to rise this morning following yesterday’s trading that saw it surge 92.31% with just over 9 million shares traded.

The attention came on the back of an announcement of some impressive results from the company’s current drill program at the EL Deposit, within the Lynn Lake nickel sulphide project in Canada.

Drilling at the EL Deposit has intersected approximately 23 metres of semi-massive sulphide breccia from 731.25m downhole.

This intercept was followed by another 37m of matrix/stringer sulphide mineralisation.

“This style of the mineralisation is analogous to the semi-massive breccia ore extracted from the historic EL Mine to a depth of 210 metres and hence may represent another body of high grade sulphide within the ultramafic pipe structure,” Corazon said in its company release.

The EL Mine was the highest grade deposit in the Lynn Lake district historically producing 1.9Mt at 2.5% nickel and 1.15% copper (combined metal of approximately 3% nickel equivalent) until it closed in 1976.

Drilling has currently reached a depth of 870m and is planned to continue to approximately 1,250m in order to test for further mineralisation and to provide a platform for downhole EM, which is scheduled to commence early July.

Assay results from the drilling of a further hole are expected late May. This hole intersected several small zones of semi massive sulphide from 729m downhole, now interpreted to be the edge of the zone hit by the recent hole.

Corazon has an option to acquire 100% equity in the Lynn Lake nickel sulphide project in the central Canadian province of Manitoba, which hosts the historic EL Nickel Mine.

The Lynn Lake nickel camp is Canada’s third largest nickel mining region, where 22Mt of nickel/copper/cobalt ore was produced between 1953 and 1976.

The company is the largest land holder in the Lynn Lake Camp. In addition to the EL Mine, the project area contains several drill defined base metal deposits and numerous un-tested geophysical anomalies.

 

Disclaimer: Word 4 Word Media, publisher of The Resources Roadhouse holds shares in Corazon Mining.