Corazon Mining receives Cobalt Ridge assays
THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced the final core assay results from a recently completed maiden reverse circulation (RC) and core drilling program at the Cobalt Ridge prospect, within the company’s Mt Gilmore cobalt-copper-gold project in north- eastern New South Wales.
Corazon Mining said that two of the three core tails completed and six RC holes it had previously reported in December 2016 intersected the Main Cobalt Lode.
“RC and core drilling assay results have validated the company’s assessment of Cobalt Ridge as a unique, high-grade cobalt-dominant deposit with the potential to deliver valuable, discrete high-grade zones of cobalt, within broader moderate grade mineralisation,” Corazon Mining said its ASX announcement.
“The main cobalt lode has been drilled over a strike of about 200 metres, to a depth of 140 metres below surface.
“The mineralisation is open to the west, where it is coincident with soil geochemical anomalism and small-scale historical workings targeting copper mineralisation.
“The main cobalt lode mineralisation is typically about 16 metres in down-hole width (approx. 8 metres true width), with intersections up to 37 metres down-hole.”
Corazon indicated that the average cobalt grades for these intervals within the drilling it has completed to date are between 0.23 per cent and 0.65 per cent cobalt.
The company said multiple higher-grade zones of up to 1.48 per cent cobalt exist, at between one and seven metres down hole widths.
The best individual one metre assay achieved from this drilling came in at 2.79 per cent cobalt.
Corazon has identified three priority target areas at Cobalt Ridge, none of which have been subjected to modern exploration techniques.
The company expects surface geochemistry and geophysics will provide a good first-pass test.
Cobalt Ridge West – The best result from drilling by Corazon at Cobalt Ridge is the western-most hole, MGRC002 where mineralisation plunges to the west-northwest, coincident with the intersection of structures and lithologies
Additional (undrilled) structures have been identified at surface, which the company considers to have the potential to generate high-grade mineralisation.
The target is supported by anomalous soil geochemistry and abundant sub-cropping quartztourmaline-limonite breccia (Cobalt Ridge host rock).
Flintoff’s – This target sits immediately to the north of Cobalt Ridge and is centred on late 1800’s copper workings.
These workings exhibit the same trend and host material as at Cobalt Ridge, but are substantially larger.
The edge of the Cobalt Ridge soil sampling survey just touches on this trend, returning strong anomalism.
Cobalt Ridge East – The target is situated at the intersection of the Cobalt Ridge and Flintoff’s trends, under the cover of thin sediments.
Email: info@corazon.com.au
Website: www.corazon.com.au