THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has acquired 100 per cent of the Lynn Lake nickel copper cobalt sulphide project area in Canada, having exercised an option to do so.
Corazon Mining had already consolidated the entire Lynn Lake nickel-sulphide mining centre, historically one of Canada’s largest nickel producing operations, under its sole ownership, which includes ground 100 per cent owned by Corazon following its acquisition of the Victory nickel-copper project, and the Dunlop project area, where Corazon has the rights to acquire 100 per cent ownership.
Corazon has now satisfied its obligations for settlement to exercise its option to acquire the Dunlop project area, which covers a large portion of the wider Lynn Lake Project.
Corazon considers the Dunlop project area to represent a critical component of the wider Lynn Lake project that covers the high-grade EL Mine and the Fraser Lake Complex (FLC) intrusion, located five kilometres south of the Lynn Lake mining centre and currently the subject of a targeted drilling program.
“Boasting large JORC compliant resources and beneficial infrastructure, Lynn Lake presents Corazon with a major development opportunity – one which is becoming increasingly prospective as a result of recent increases in the value of both nickel and cobalt metals,” Corazon Mining said in its ASX announcement.
“Both metals are forecast to have strong demand outlooks associated with their core use in the emerging global electric vehicle (EV) industry.”