THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has received assay results from the final two holes of a recently completed 18-hole drilling program undertaken on the Cobalt Ridge prospect located within the company’s Mt Gilmore project in New South Wales.
Corazon Mining reported that drill hole MGRCD036, which tested the Main Cobalt Lode, returned results of:
5 metres at 0.53 per cent cobalt, 0.16 per cent copper, 0.08 grams per tonne gold from 224 m.
This intersection was within a broader zone of 42m at 0.11 per cent cobalt.
Corazon claimed the drilling to have highlighted multiple cobalt, copper and gold mineralised trends in what it has interpreted as being a, “long-lived, multiphase alteration and mineralising event”.
The Main Cobalt Lode has been the primary target of the company’s recent drilling and much of the historical drilling.
This lode is up to 25 metres in true width and contains multiple narrow zones of higher-grade mineralisation.
“The results of Corazon’s drilling programs to date have continued to validate and strengthen the company’s exploration model for the project as a potentially significant cobalt-copper-gold development asset,” Corazon Mining said in its ASX announcement.
“Based on the results achieved to date, Corazon will continue to rapidly advance the project.
“The next phase of work will include geophysical and geochemical surveys to test for potential extensions to the project area, as well as the continuation of Corazon’s highly successful metallurgical testwork programs.”