THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared the discovery of a major copper-cobalt-silver-gold trend at the company’s Mt Gilmore project in New South Wales.
Corazon Mining’s recent exploration activity has resulted in the discovery of multiple, large (plus-1km) priority targets within a major copper-cobalt-silver-gold feature of more than 11 kilometres in strike length, which forms part of the currently defined 22 kilometre-long, mineralised Mt Gilmore Trend.
Corazon said the newly identified Mt Gilmore geochemical trend represents a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits and provides the company with a unique early-stage copper-driven opportunity in eastern Australia.
The region has had little or no modern exploration or drill testing within the priority areas defined.
Corazon identified the geochemical anomalies from surface sampling undertaken that was part of a program that took 3,893 soil samples and 230 rock-chip samples that provided evidence of an extensive hydrothermal event within the project, containing metal associations indicative of large intrusive related copper-gold systems.
This sampling tested what Corazon has interpreted as high-grade ‘leakage structures’ extending from much larger, concealed, copper sulphide-rich hydrothermal centres.
These structures, in isolation, also provide prospective targets for further exploration and drilling.
“Corazon’s assessment that the numerous occurrences of copper-cobalt-gold mineralisation identified in late-1800s/early-1900s small scale mining operations may in fact be part of a much larger system, represents a significant advancement for the project, substantially increasing it’s potential,” Corazon Mining said in its ASX announcement.