Corazon identifies large geophysical anomalies near Lynne Lake Mining Centre
THE DRILL SERGEANT: Corazon Mining (ASX: CZN) published results of an Induced Polarisation (IP) geophysical survey recently completed at the company’s Lynn Lake nickel-copper- cobalt sulphide project located in the central Canadian province of Manitoba.
Corazon conducted 49 kilometres of gradient array IP in a first pass reconnaissance survey over the Fraser Lake Complex (FLC), situated five kilometres south of the historic Lynn Lake mining centre.
Corazon said the recent IP survey identified multiple, strong-chargeable anomalies that are geophysically analogous to the nickel-copper-cobalt sulphide mineralisation mined for decades within the Lynn Lake Mining Centre.
The company went on to explain that anomalous nickel and base metal mineralisation within the FLC was discovered by mining company Sherritt-Gordon in the late 1940’s – early-1950’s around the same time as that company made its massive sulphide discovery at Lynn Lake.
Lynn Lake went on to be mined for 24 years before closure in 1976 and remains the 4th largest nickel producing area in Canada (behind Sudbury, Voisey’s Bay and Raglan).
“The results we are seeing in this IP indicate support for a 70 year-held belief that there has to be mineralisation at the FLC,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchanhe.
“These anomalies aren’t where the old-timers were looking, but in hindsight where they are located make good geological sense.
“The IP anomalies display signatures similar to known deposits in Lynn Lake’s mine area and includes multiple features with high chargeabilities of plus 20 mVolts, with some more than 40 mVolts.
“It’s difficult to imagine what could cause this response, other than magmatic sulphides.”
Corazon has identified three main target areas, which include:
The Anomaly A area, which hosts multiple strong-chargeable anomalies (+20mV) that appear similar in form to the high-grade plug-like sulphide bodies in the Lynn Lake Mining Centre. At least six targets have been prioritised for detailed IP follow-up;
Anomaly B is a large linear zone of high chargeability similar in IP characteristics to the ‘N’ deposit at Lynn Lake. The target is about 600m long and open to the west; and
Anomaly C is a zone of high chargeability that links into the Eastern Magnetic Domain (EMD). This feature may be a feeder to the EMD and also incorporates a few distinctive pipe-like targets.
Email: info@corazon.com.au
Website: www.corazon.com.au