THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is preparing to kick off the next phase of drilling at the Fraser Lake Complex (FLC), located just five kilometres south of the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt Mining Centre in Canada.
Corazon Mining advised that preparation for drilling at the FLC is nearing completion and that drilling is expected to begin the week commencing Monday, 12 February.
Access tracks and drill pads have been completed in preparation for drilling, and the drill rig is on site with personnel currently being mobilised.
Corazon has systematically explored the FLC since December 2016, carrying out a range of activities, including drilling, ground geophysics, downhole geophysics and geochemistry.
“The large amount of data generated from this targeted exploration has produced geophysical and geochemical models supporting the company’s view that the FLC has the potential to host significant nickel-copper-cobalt sulphide deposits,” Corazon Mining said in its ASX announcement.
The company has confirmed a number of priority drill targets from its 2017 fieldwork programs with the initial drill target being a deeply rooted, funnel-shaped, strongly magnetic feature, with similar characteristics to the nearby EL Mine deposit (a high-grade sulphide breccia pipe within the nearby historic Mining Centre).
Corazon has completed a capital raising Placement, funds from which will fully fund the company’s next phase of exploration at its two flagship projects, the Cobalt Ridge deposit within the Mt Gilmore cobalt-copper-gold project in New South Wales and the Fraser Lake Complex within the Lynn Lake nickel-copper-cobalt project in Canada.