Corazon Mining Defines New Mt Gilmore Porphyry Copper-Gold Target

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has defined a new, large-scale, high-priority porphyry copper-gold target at the company’s Mt Gilmore project in New South Wales.

Corazon Mining explained the new target, known as the May Queen target lies adjacent to the historically identified May Queen copper-magnetite skarn deposit.

The company described it as being a feature of approximately two kilometres in strike, located in the northern extent of the Mt Gilmore Trend, which Corazon has defined as a copper-cobalt gold trend over 20 kilometres in length, considered prospective for intrusion-related copper-gold deposits.

Corazon is of the opinion that large, regional-scale and complex geochemical anomalies like Mt Gilmore are well suited to mineral chemistry targeting programs, rather than conventional geophysics and blind drilling.

To this end the company had a geochemical program undertaken at Mt Gilmore by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania (UTAS) to define higher confidence drill targets.

The program found the May Queen target displays favourable hydrothermal alteration, along with coincident surface copper-in-soil and geophysical anomalism.

Corazon has commenced planning for a maiden drill program at May Queen, which will include access requirements and all drilling approvals.

“The results of our body of work with CODES at UTAS has been a great success for the company, and our exploration of the Mt Gilmore project,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“The geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment.

“Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on.

“We’re hoping the targeting process completed has mitigated the need to do this.

“Mt Gilmore displays many characteristics typical of large porphyry copper systems, and the outcomes of the work by CODES has helped define what is interpreted as a high-priority drill target at the May Queen prospect.

“Drilling of the May Queen will now be a high-order priority for the company.”