Corazon continues nickel hits

THE DRILL SERGEANT: Canada-focused nickel play Corazon Mining has intersected further nickel / copper sulphide mineralisation.

The hits have come during an ongoing drilling program the company is conducting on geophysical (EM) conductors at its EL Deposit, located within the Lynn Lake nickel sulphide project in Canada.

The latest drilling supports Corazon’s interpretation that the EM conductors it has recently defined are likely to be substantial zones of high-grade nickel / copper sulphide.

The company has defined two strong EM conductors, which it considers may represent the same mineralised zone and extending it over 50 metres to 100 metres and at depth.

“These anomalies extend to the full effective range of the geophysical method, into areas not tested by drilling and may extend further,” Corazon said in its announcement to the ASX.

“The true dimensions of the mineralisation associated with the EM conductors have yet to be determined.

“Drilling has intersected a relatively flat upper bounding fault, in contact with high-grade mineralisation.

“This is a truncated profile for the mineralisation historically defined at the EL Deposit, which has a high-grade core of between 80 metres and 120 metres in diameter, central to disseminated mineralisation of up to 200 metres in diameter.”

So far Corazon has drilled three holes into an EM conductor located below the EL Mine.

Although these holes have tested only a small portion of the target, they have intersected high-grade nickel / copper mineralisation.

The discovery hole, which the company announced to the market in June, returned 23.75 metres at 3.34 per cent nickel, 1.54 per cent copper and 0.079 per cent cobalt and defined the northern extents of the conductor target.

Massive sulphide intercepted in the second hole that was announced in August intersected 2.4m of massive sulphide beneath the fault.

The hole Corazon is currently drilling currently has targeted an area away from the edge of the EM anomaly.

This hole intersected the upper bounding fault at 723.96m and immediately intersected semi-massive to disseminated nickel and copper sulphides for the next 32.72m.

Within this, two zones with strong sulphides exist, including 1.44m of semi-massive sulphide immediately below the bounding fault, and 6.97m of semi-massive and sulphide breccia from 739.26m.

Corazon said that it was significant that the latest drilling had returned some of the highest recorded nickel grades in the Lynn Lake mining camp.

“The predictability of the location of the mineralisation, coincident with the EM conductors, provides conclusive support that the EM anomalies recently defined represent semi-massive to massive sulphides, and hence high nickel and copper mineralisation,” the company said.

Corazon will continue to drill the conductor continue subsequent to the completion of the current hole, which has a target depth of around 900m.