Corazon Mining Identifies new Cobalt Zones at Cobalt Ridge
THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced results from a recently completed soil geochemistry program at the company’s Mt Gilmore cobalt-copper- gold project in north-eastern New South Wales.
Corazon Mining said the program had identified new zones of cobalt mineralisation at the Cobalt Ridge prospect, which is claimed to host one of the highest-grade cobalt deposits in Australia.
The company described Cobalt Ridge as a rare cobalt- dominant sulphide deposit, which it believes has the potential to supply a quality cobalt product, suitable for use in lithium-ion batteries and the emerging rechargeable battery sector.
The recent soil sampling at Cobalt Ridge defined extensions to the Cobalt Ridge prospect, as well as identifying several new zones of cobalt and copper mineralisation
Soil geochemistry results from the sampling is being used to prepare detailed 3D modelling of drilling that is being planned for the third quarter this year.
The Main Cobalt Lode has now been defined over a 450 metre strike and is expected to continue under cover
Drilling undertaken to date has only tested 200m strike of this zone.
Flintoff’s Trend has been defined by soil geochemistry over 350m of strike, also extending under cover.
The Flintoff’s anomaly contains the highest grade cobalt-in-soils result in the district (271ppm Co) and is associated with old copper workings that are more substantial than at Cobalt Ridge.
Government reports from mining in the early 1900’s recorded cobalt mineralisation up to 8.9 per cent, with more recent government rock-chip sampling (1986) returning 0.76 per cent cobalt, 0.69 per cent copper, 0.39 grams per tonne gold and 4g/t silver
This deposit has not been drill tested.
“Results have validated historical geochemistry and confirmed the presence of multiple zones of cobalt and copper mineralisation over a significant area,” Corazon Mining said in its ASX announcement.
“Surface geochemistry suggests the cobalt mineralisation is much more extensive than that defined by previous exploration and mining, which was focused solely on the copper mineralisation.”
Email: info@corazon.com.au
Website: www.corazon.com.au