THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced an upgrade of the JORC-compliant resource estimate for the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba Province, Canada.
Corazon Mining reported the new Resource Estimate for the Lynn Lake Project has resulted in 20 per cent of the resource previously reported by the company in November 2019, being upgraded to the highest-quality Measured resource category.
The new Resource Estimate includes (at a 0.5% nickel base cut):
3.28 million tonnes at 0.67 per cent nickel, 0.32 per cent copper, 0.03 per cent cobalt
9.62 million tonnes 0.7 per cent nickel, 0.34 per cent copper, 0.035 per cent cobalt
3.42 million tonnes at 0.79 per cent nickel, 0.33 per cent copper, 0.027 per cent cobalt
For total contained metal of 116,800 tonnes nickel, 54,300 tonnes copper, 5,300 tonnes cobalt
“This significant resource upgrade provides further confidence in the potential to develop a long-life, bulk, low cost mining operation at Lynn Lake,” Corazon Mining said in its ASX announcement.
“The resource upgrade has been delivered as a result of the company’s increased level of confidence in the historic drilling databases and initial encouraging results from current and ongoing mining studies currently being undertaken for the Lynn Lake Mining Centre.”
Corazon Mining currently has exploration drilling underway at Lynn Lake testing ‘off-hole’ electromagnetic (EM) conductors it had defined earlier this year at the Fraser Lake Complex (FLC), approximately 10 kilometres south of the Lynn Lake Mining Centre.
The company has interpreted these conductors to have geophysical signatures and sizes similar to nickel sulphide deposits within the Mining Centre.
The current program is to consist of approximately 2,000 metres of diamond core drilling that will initially focus on three priority targets, all close to one another, for a total of approximately 1,000 metres.