THE DRILL SERGEANT: Corazon Mining (ASX: CZN) completed its latest phase of drilling at the Fraser Lake Complex (FLC), located five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt mining centre in Canada.
Corazon Mining completed three holes at the FLC and two holes at targets closer to the Lynn Lake mining centre targeting large, untested geophysical anomalies that were identified during the company’s 2017 field season at Lynn Lake.
The company indicated the latest drilling has intersected widespread disseminated to heavy net-textured sulphide mineralisation from surface and throughout all holes within the FLC, adding that the initial results appear to be consistent with mineralisation intersected in the 2017 drilling program.
Samples from this drilling have been submitted for laboratory analysis.
“Drilling at the FLC continues to deliver positive results which strengthen Corazon’s geological model for the target, and belief that the FLC has the potential to host significant nickel-copper-cobalt sulphide deposits,” Corazon Mining said in its ASX announcement.
“It is noted, though, that the feeder zone(s) for this mineralisation have not yet been identified.
“With this aim in mind, the results of the recent drilling will enable the company to further refine its targeting and interpretation processes for on-going exploration.”
Corazon said it has commenced work for the re-estimation and up-grade of Resources within the Lynn Lake mining centre.
The company expects these Resources will be used to complete mining studies for the re-establishment of mining at Lynn Lake.
“The price of nickel has risen strongly in the past 12 months and the forecast demand outlook is similarly positive, factors which add weight to the potential economic viability of mining at Lynn Lake,” Corazon said.