THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced assay results from a recently completed drilling program at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.
Corazon Mining completed the drilling, which was focused on the Main Lode at the Cobalt Ridge deposit, a cobalt dominant sulphide deposit.
Assay results have been returned from the drilling program that included 21 holes, comprising reverse circulation (RC) and core drilling.
Drilling has demonstrated the east-west trending Main Lode to be up to 35 metres in width and has now been tested over an approximate 300 metre strike with drilling focused on depths predominantly less than 170 metres below surface.
The broad Main Lode includes multiple narrow, higher-grade sulphide rich lodes and returned numerous assays of over one per cent cobalt.
The best result from this program was a high-grade intersection of 5 metres at 2.14 per cent cobalt.
“This drilling has returned exceptional results and has enabled us to gain a much higher-level geological understanding of the deposit,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.
“Our ongoing work should enable us to more accurately express the potential of the Cobalt Ridge deposit, which is our core aim, and we expect to be able to announce more about this in the coming weeks.”
Corazon Mining said Cobalt Ridge remains substantially under-drilled and there is demonstrated potential to define additional areas of mineralisation.
The company said the results from this current drilling program had provided a much better understanding of the controls on the mineralisation – knowledge it will put to use to identify additional drilling targets within Cobalt Ridge, as well as regionally with the greater Mt Gilmore project area.