Corazon Mining Increases Mt Gilmore Cobalt Potential

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is focused on identifying new cobalt-copper-gold sulphide targets within the company’s Mt Gilmore project in New South Wales, including the identification of extensions to the Cobalt Ridge deposit.

Corazon Mining claimed the recent discovery of four substantial cobalt-copper-gold anomalies, resulting in a total of six areas requiring further testing, within a contiguous 10 kilometre strike around the Cobalt Ridge deposit.

This is in addition to three high-tenor Lantana Downs anomalies the company announced in April, located a further 2km to the north.

The company considers the new anomalies to be of some significance, placing them on a par in tenor to the soil geochemical anomaly for the outcropping Cobalt Ridge deposit.

They were defined during an ongoing project-wide 200 metre by 200 metre soil sampling program.

Corazon now intends bringing the spacing in to conduct infill soil sampling to a 50 metre by 50 metre patterns to further define and refine potential drill targets.

The company’s next phase of drilling at Mt Gilmore is expected to commence in early July and will initially focus on infill and extension testing at Cobalt Ridge, and also provide a first-pass test of priority features generated by the recently completed 3D Induced Polarisation (IP) geophysical survey.

“The company plans to complete approximately 14 holes for about 2000 metres of reverse circulation (RC) and core drilling at Cobalt Ridge,” Corazon Mining said in its ASX announcement.

“The drilling contractor has been engaged and is expected to mobilise to site during the first week of July.

“The company will advise the market on the commencement of drilling and provide additional exploration results as they become available.

“The proposed drilling will also progressively test new target areas within the wider Mt Gilmore project area generated by the company’s ongoing regional soil sampling program.”