THE DRILL SERGEANT: Corazon Mining (ASX: CZN) released further assay results from the latest phase of drilling to be completed at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada.
Corazon Mining has now taken receipt of assay results for all priority samples from the drilling program completed in December 2019 that has revealed multiple zones of broad, near-surface high-grade mineralisation in areas surrounding previously mined deposits within the Lynn Lake Mining Centre.
The company believes these results have greatly enhanced the potential to expand the project’s already substantial existing resource base.
Drilling targeted two historical deposits – the A Orebody and E Orebody – with seven holes of diamond core drilling completed.
Both the A Orebody and E Orebody areas have potential extensions to known mineralisation that have not been historically tested with drilling, which the company considers to provide resource expansion potential and, subsequently, will be the subject of ongoing targeted exploration and drilling.
There are multiple other areas within the Mining Centre, also yet to be drill tested, that may also have the potential for near surface mineralisation surrounding historical underground mining operations.
This latest phase of drilling tested near surface expressions of mined areas that operated continuously for 24 years at an average grade of 1.02 per cent nickel and 0.54 per cent copper.
37.8 metres at 1.68 per cent nickel, 0.67 per cent copper, 0.05 per cent cobalt from 10m, including 22.6m at 2.3 per cent nickel, 0.82 per cent copper, 0.068 per cent cobalt from 24.4m; and
4.5m at 1.17 per cent nickel, 0.22 per cent copper, 0.029 per cent cobalt from 25m; and
4.1m at 2.09 per cent nickel, 0.57 per cent copper, 0.073 per cent cobalt from 26.9m.
“Historical mining at Lynn Lake focused largely on underground operations and the lack of near-surface exploration around the previously mined deposits has provided a substantial opportunity for Corazon to expand what is already a significant nickel sulphide resource base,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.
“Our targeted drilling was designed to identify haloes of disseminated mineralisation around the mined deposits, and the results have been highly successful with the exceptional grades returned significantly exceeding expectations.
“In addition, the results have validated our targeting processes and paves the way for our ongoing, targeted exploration and drilling at Lynn Lake.”