Corazon Mining cashed up for second round of drilling at TUR

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is close to finalising the raising of approximately $3 million to fund the next phase of exploration at the company’s Top Up Rise (TUR) project), located in the Gibson Desert region of Western Australia.

The proceeds of the placement have been earmarked for exploration and drilling activities at TUR as well as studies and exploration at the company’s Canadian gold and nickel projects and for general working capital purposes.

 

The Roadhouse spoke with Corazon Mining managing director Brett Smith at the RIU Melbourne Resources Roundup. Watch here.

 

Drilling at TUR is set to kick off again as soon as possible with a drill rig still on site from the company’s initial program with drilling crews plus additional equipment now being organised and mobilised to the TUR site.

Drill targets are being reviewed, incorporating information acquired during the earlier drilling.

Corazon said the results from the first phase of drilling suggest the large TUR gravity anomaly has a coincidental geochemical anomaly, including a robust base and precious metal association.

Extensive low tenor sulphide mineralisation, including copper sulphide, has been intersected in all holes drilled to date over a large area.