THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced assay results from an on-going regional geochemical soil-sampling program at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.
Corazon Mining completed the extensive geochemical sampling program by collecting a total of 3,533 soil samples and 206 rock-chip samples at Mt Gilmore acquiring the project in 2016, with 3,335 assays now returned.
The company explained the program had been designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from the drill-defined Cobalt Ridge deposit, which has been Corazon’s priority target.
The soil-sampling program resulted in the discovery of multiple, new, high-tenor cobalt-copper-gold anomalies – with soil sampling results of up to 450ppm cobalt and 1,060ppm copper, supported by rock chip samples grading up to 1,795ppm cobalt and 16.3 per cent copper.
Corazon’s sampling program has tested approximately 19 kilometres of the Mt Gilmore Trend and has identified extensive metal-rich anomalism in soils over basement rocks, from which the company has deduced the metal-association and size of the anomalies to suggest the wider project area could host a substantial, long-lived hydrothermal mineralising event.
“The company’s geochemical sampling program has proven highly effective in mapping alteration and mineralisation within the outcropping basement rocks at Mt Gilmore, with results correlating positively with known mineralisation and identifying multiple new target areas,” Corazon Mining said in its ASX announcement.
“The results to date have far exceeded the company’s expectations, already identifying several new priority prospects, and, with most of the anomalous areas yet to be explored in detail, strong potential exists to define additional new targets.
“The tenor of these newly discovered cobalt anomalies are on par with the outcropping Cobalt Ridge deposit and potential exists for the discovery of additional cobalt-copper-gold sulphide deposits.”