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THE DAILY ROADHOUSE

Corazon Mining Encounters High-Grades Near Surface at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has started 2020 on a positive note with the release of the first assay results from its latest phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Alloy Resources Finalises 2019 Horse Well Drilling Results

THE DRILL SERGEANT: Alloy Resources (ASX: AYR) finalised results for drilling completed in 2019 at the company’s Horse Well gold project Joint Venture with Silver Lake Resources (Alloy 60%: Silver Lake Resources 40%).

Corazon Mining Encounters High-Grades Near Surface at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has started 2020 on a positive note with the release of the first assay results from its latest phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining reported partial results from the first two holes (LL2019-01 and LL2019-02) of a recently completed seven-hole diamond core drilling program that have returned exceptional, broad, near-surface high-grade mineralisation.

The company indicated that further assay results from these holes and the remaining holes in the program will be released as they become available.

Hole LL201902 intersected a high-grade interval of:

21.05 metres at 2.47 per cent nickel, 0.66 per cent copper, 0.07 per cent cobalt, within a broader zone of mineralisation, including 37m at 1.71 per cent nickel, 0.68 per cent copper, 0.05 per cent cobalt, from just 10 metres down hole.

The mineralised interval ended in grade (at 47 metres down-hole), with further assays pending.

Hole LL2019-01 returned good marginal-grade material with:

7m at 0.62 per cent nickel, 0.37 per cent copper, 0.02 per cent cobalt, west of the main zone being targeted by LL2019-02.

The drilling of LL2019-01 and LL2019-02 targeted areas around the A Orebody, historically covered with infrastructure from the A-Shaft and processing plant area within the Lynn Lake Mining Centre.

The area being targeted with drilling at the A Orebody is approximately 80 metres by 220 metres, surrounding previously mined high-grade massive sulphide (stoped to surface and backfilled).

The mined massive sulphide mineralisation at the A Orebody is described as ‘pipe-like’ with dimensions of approximately 40 metres by 120 metres.

“The company’s recent exploration work at Lynn Lake focused on defining additional areas of mineralisation with the potential to add to the project’s significant existing resource base,” Corazon Mining said in its ASX announcement.

“Corazon’s recent mining studies at Lynn Lake predominantly centred on nickel deposits at depths of more than 400 metres below surface.

“This work has highlighted the potential to define additional resources closer to the surface adjacent to Lynn Lake’s historically mined areas.

“The initial testing of these areas was the focus for the recent drilling program.”

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Corazon Mining Intersects Strong Nickel-Copper Sulphide Mineralisation at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) received preliminary results from the first three holes completed in the current phase of drilling at the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide Mining Centre in Canada.

Corazon Mining said the preliminary results were highly positive with all three holes intersecting strong sulphide mineralisation, including a broad zone of more than 35 metres of strong sulphide mineralisation (between 7 metres to 42 metres downhole) in hole 7.

The three completed holes (holes 5, 6, 7) have been drilled for a total of approximately 356 metres, targeting areas around the A Orebody that had previously been covered by infrastructure from the A-Shaft and processing plant area within the historical Lynn Lake Mining Centre.

Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the project’s already large resource base.

Approximately 1,200 metres of diamond core drilling are planned for the current program, which is expected to be completed in the current month.

Hole #5 intersected at least five metres of good sulphide mineralisation, before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope.

Hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.

Hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole.

“Corazon’s recent mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below surface,” Corazon Mining said in its ASX announcement.

“This work has highlighted the potential to define additional resources closer to surface adjacent to Lynn Lake’s historically mined areas.

“These areas are the initial focus for the current drilling program.”

In addition to testing the historical mining areas, Corazon has also defined several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits within the Lynn Lake Mining Centre, which the company considers to represent further resource upside potential.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

THE DAILY ROADHOUSE

 

Stavely Minerals Expands Thursday’s Gossan Mineralisation

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) received assay results for further diamond drill holes undertaken at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Musgrave Minerals Intersects High-Grades at Mainland

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported high-grade gold results from reverse circulation (RC) drilling at Mainland on the company’s Cue gold project in Western Australia, where it has an option agreement to acquire 100 per cent of the basement gold rights.

Corazon Mining Adds Further Nickel to Lynn Lake Resource

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced an upgraded Mineral Resource Estimate for the comapy’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Matador Mining Progresses Cape Ray Environmental Assessment

THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) updated the market on progress of the Environmental Assessment (EA) process for the company’s Cape Ray gold project in Newfoundland, Canada.

 

Corazon Mining Adds Further Nickel to Lynn Lake Resource

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced an upgraded Mineral Resource Estimate for the comapy’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining reported the current total Resource Estimate includes just six deposits within the Lynn Lake Mining Centre, with multiple additional areas of mineralisation yet to be evaluated as potential additions to the Resource base.

The upgraded Resource includes:

16.3 million tonnes at 0.72 per cent nickel, 0.33 per cent copper, 0.033 per cent cobalt (Indicated and Inferred, at a 0.5% Ni cut-off), for total contained metal of 116,800 tonnes of nickel, 54,300 tonnes of copper, and 5,300 tonnes of cobalt.

The upgraded Resource includes an internal high-grade Resource Estimate of:

5.4 million tonnes at 0.99 per cent nickel, 0.41 per cent copper, 0.043 per cent cobalt (Indicated & Inferred, 0.7%Ni cut-off) of high-grade material.

“Corazon now has almost 117,000 tonnes of nickel metal in sulphide Resource sitting in one of the best mining provinces in Canada,” Corazon Mining chairman Terry Streeter said in the company’s announcement to the Australian Securities Exchange.

“All indications are that this will be further expanded.

“We’ve a drill rig on site setting up on targets recently generated in and around the Mining Centre.

“The forecasts for Class 1 nickel demand is quite strong and we are keen for Lynn Lake to be in a position to take advantage of that market.”

Corazon declared the Mineral Resource Estimate to be of a very high quality that is well supported by drilling and historical mining data.

The company anticpates very little additional verification drilling and sampling will be required to upgrade the majority of the defined tonnages in the Resource to the higher Measured category.

The estimation has focused on the EL, N, O, P, Disco and Golf deposits within the Mining Centre.

The nickel sulphide deposits are close to each other, with the EL, N and O deposits having been subjected to historical mining and development.

The Golf deposit was drilled out just prior to mine closure and the Disco deposit was discovered in 2008, well after mine closure in 1976.

Lynn Lake hosts additional deposits, as well as numerous occurrences of drill-defined mineralisation, that are yet to be considered for resource studies.

These areas support the potential for further upgrades to Lynn Lake’s Mineral Resource.

The Lynn Lake deposits provide the opportunity for mining using large tonnage, low cost methods.

The historical mined grades at the A Plug were approximately 0.86 per cent and 0.44 per cent copper with the higher-grade EL Plug being mined at 2.5 per cent nickel and 1.15 per cent copper.

The company claimed the new Resource Estimate grades are consistent with the tenor of mineralisation previously mined at Lynn Lake.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Corazon Mining to Commence Drilling at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced plans for drilling to be carried out at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada.

Corazon Mining has completed an extensive targeting program focusing on areas surrounding the many historic mines within the project.

The work the company has completed has incorporated the analysis and integration of multiple historical exploration datasets, combined with modern geophysical processing technologies.

Corazon has now identified several high-priority drill targets and now has preparations for drilling these targets underway.

Permits for drilling have been granted by the Provincial Government of Manitoba and a drilling contractor has been engaged and Corazon intends to commence drilling as soon as possible.

Drill Targets Identified Priority Lynn Lake Mine Area drill targets include:

Near-surface mineralisation;
Areas on-trend from historical mines; and
Areas adjacent to Corazon’s existing resources.

In addition, several new high-potential areas that are geophysically analogous to previously mined areas have been defined within the Lynn Lake Mining Centre.

Corazon has taken a strategic review of the Lynn Lake project on the back of the recent recovery in the price of nickel.

The company has consolidated the entire Lynn Lake nickel camp and its extensive historical datasets, which includes more than 75 years of exploration and 24 years of mining information.

Corazon is the first company to gain control of the entire Lynn Lake nickel camp since mine closure in 1976; in doing so, Corazon believes it has created the opportunity to compete detailed interrogation and targeting within the mine area and across the wider project area.

“Substantial mineral resources have been defined within the historic mining centre and good opportunity exists to add to the resource base from exploration within well-defined mineralised corridors,” Corazon Mining said in its ASX announcment.

“With little modern exploration undertaken to date, the opportunity for further discoveries within the Lynn Lake mining centre is substantial.

“Exploration in recent years has highlighted the project’s potential, with discoveries made by several companies including Western Areas (ASX: WSA), Independent Nickel (TSX: INI) and Corazon.”

Lynn Lake’s current JORC-compliant resource identifies 110,300 tonnes of nickel metal, along with 51,400 tonnes of copper and 5,200 tonnes of cobalt.

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Corazon Mining Chasing New Discovery at Mt Gilmore

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is currently conducting exploration activities that are focused on the discovery of a large, concealed suphide system within newly identified zones of mineralisation at the company’s Mt Gilmore copper-cobalt-gold project in New South Wales.

Corazon Mining is carrying out field activities at Mt Gilmore testing newly identified copper-cobalt-silver geochemical anomalies, to define priority targets for the company’s next phase of drilling.

The company believes these large geochemical anomalies represent alteration zones associated with intrusive-related copper-sulphide systems, located at favourable structural dilatant zones within the Mt Gilmore trend.

Ground preparation for an Induced Polarisation (IP) ground geophysical survey is currently underway, which is expected to commence this month and be completed by the end of July.

Testing will consist an initial reconnaissance survey of 20 line-kilometres, with provision for follow-up based on results.

“Geological mapping of the large copper-cobalt-silver soil anomalies is ongoing and continues to identify extensive favourable alteration and outcropping sulphide mineralisation,” Corazon Mining said in its ASX announcement.

“Alteration includes the quartz-tourmaline breccia-styles typical of the Cobalt Ridge sulphide deposit at Mt Gilmore, along with extensive propylitic and skarn style hydrothermal alteration assemblages, including the minerals epidote, calcite, garnet, magnetite and sulphide (pyrite-pyrrhotitechalcopyrite) typical of the intrusion related sulphide deposits being explored for.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Limited (ASX: CZN)

Corazon Mining is a base metals explorer exploring two projects, one in each global hemisphere.

Overseas it envelops the entire Lynn Lake nickel-copper-cobalt mining centre in Canada.

Domestically it has the Mt Gilmore project in New South Wales that hosts the Cobalt Ridge deposit.

Corazon owns 100 per cent of the Lynn Lake Mining Centre located in Manitoba – historically one of Canada’s most prolific nickel producing regions.

Lynn Lake is a historical mining centre that was mined continuously for 24 years prior to closure in 1976.

In 2015, Corazon consolidated the Lynn Lake mineral field for the first time since mine closure and in doing so created an important nickel-copper asset.

Corazon recently announced information and results from initial metallurgical testwork carried out at the Lynn Lake nickel copper-cobalt sulphide project in Canada.

The company has declared its initial results from a metallurgical testwork program at Lynn Lake as exceptional having, for the first time, delivered separate high-value nickel and copper concentrates.

The results include the production of a new nickel concentrate with a grade of 26 per cent nickel with recoveries of 71 per cent and a new copper concentrate with a grade of 27 per cent copper with recoveries of 77 per cent.

These results are yet to be fully optimised, however Corazon expects on-going work will deliver further improvements.

This technical breakthrough represents an important step forward in Corazon’s development pathway for Lynn Lake as it supports the production and dispatch of separate copper and nickel concentrates from site to smelters and removes the need for potentially costly secondary processing from a bulk (nickel-copper) concentrate onsite.

Operations and metallurgical testwork completed since the mine closed were unable to achieve the nickel grades observed in this current testwork, or produce separate nickel and copper concentrates with the purity of this testwork.

The company has testwork underway that is focused on ore characterisation, flotation and product definition for down-stream processing, and is designed to provide key data for future mining and development studies for the possible re-commencement of mining at Lynn Lake.

Corazon has approximately 500 kilograms of fresh broken, mineralised fist-sized pieces of rock sample transported from site to Australia for analysis.

The sample was delivered to ALS Metallurgy in Western Australia, and internationally recognised metallurgical consultants, METS Engineering, managed the testwork.

The testwork included an initial flotation process to concentrate the copper and a subsequent flotation process to concentrate the nickel and cobalt.

Modern advances in processing technologies and reagents have delivered substantial benefits and efficiencies with respect to metal recoveries and product quality, which may in turn deliver significant reductions in both operating and capital costs associated with any future development of Lynn Lake.

Corazon holds the right to earn up to 80 per cent of the Mount Gilmore cobalt-copper-gold project that hosts the rare, cobalt dominant sulphide Cobalt Ridge deposit, claimed by the company to be one of the highest-grade cobalt deposits in Australia.

The company recently announced the discovery of a major copper-cobalt-silver-gold trend at the Mt Gilmore project, after its exploration activities discovered multiple, large (plus-one kilometre) priority targets within a major copper-cobalt-silver-gold feature of more than 11 kilometres in strike length, which forms part of the currently defined 22 kilometre-long, mineralised Mt Gilmore Trend.

Corazon considers this newly identified Mt Gilmore geochemical trend to represent a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits that provides the company with a unique early-stage copper-driven opportunity in eastern Australia.

The region has been subject to little or no modern exploration activities or drill testing within the priority areas Corazon has defined.

The geochemical anomalies were identified from surface sampling the company carried out at Mt Gilmore in 2018.

This was part of a program that also included 3,893 soil samples and 230 rock-chip samples.

The results provided compelling evidence of an extensive hydrothermal event within the project, containing metal associations indicative of large intrusive related copper-gold systems.

Rock chip and grab sampling within these soil anomalies has returned high tenor copper (up to 21.6 per cent), cobalt, silver and gold.

This sampling tested what Corazon has interpreted as being high-grade ‘leakage structures’ extending from much larger, concealed, copper sulphide-rich hydrothermal centres.

These structures, in isolation, also provide prospective targets for further exploration and drilling.

Corazon’s assessment that the numerous occurrences of copper-cobalt-gold mineralisation identified in late-1800s/early-1900s small scale mining operations may in fact be part of a much larger system, represents a great advancement for the project, substantially increasing it’s potential.

 

Email: info@corazon.com.au
Web: www.corazon.com.au

Directors: Clive Jones, Brett Smith, Jonathan Downes, Dr. Mark Yumin Qiu

 

Corazon Mining Makes Metallurgical Breakthrough at Lynn Lake

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared a major technical breakthrough from initial metallurgical testwork completed at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon Mining said the initial results from the metallurgical testwork program at Lynn Lake were exceptional and, for the first time, have delivered separate high-value nickel and copper concentrates.

The results include:

New nickel concentrate with a grade of 26 per cent nickel with recoveries of 71 per cent; and

New copper concentrate with a grade of 27 per cent copper with recoveries of 77 per cent.

The company explained these results have not been fully optimised and that it expects on-going work will deliver further improvements.

“This significant technical breakthrough represents an important step in Corazon’s development pathway for Lynn Lake,” Corazon Mining said in its ASX announcement.

“It supports the production and dispatch of separate copper and nickel concentrates from site to smelters and removes the need for potentially costly secondary processing from a bulk (nickel-copper) concentrate onsite.”

Corazon has testwork underway focused on ore characterisation, flotation and product definition for down-stream processing and is designed to provide key data for future mining and development studies for the possible re-commencement of mining at Lynn Lake.

The recent testwork demonstrated nickel and cobalt are captured together in the flotation process and separated from the copper sulphides.

The nickel concentrate does contain a small amount of copper and the copper concentrate retains a small amount of nickel, as such, Corazon’s on-going work aims to determine how much the recoveries can be improved while maintaining high concentrate grades.

 

Email: info@corazonmining.com.au

Website: www.corazonmining.com.au

 

Corazon Mining Identifies Mt Gilmore Copper Targets

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) declared the discovery of a major copper-cobalt-silver-gold trend at the company’s Mt Gilmore project in New South Wales.

Corazon Mining’s recent exploration activity has resulted in the discovery of multiple, large (plus-1km) priority targets within a major copper-cobalt-silver-gold feature of more than 11 kilometres in strike length, which forms part of the currently defined 22 kilometre-long, mineralised Mt Gilmore Trend.

Corazon said the newly identified Mt Gilmore geochemical trend represents a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits and provides the company with a unique early-stage copper-driven opportunity in eastern Australia.

The region has had little or no modern exploration or drill testing within the priority areas defined.

Corazon identified the geochemical anomalies from surface sampling undertaken that was part of a program that took 3,893 soil samples and 230 rock-chip samples that provided evidence of an extensive hydrothermal event within the project, containing metal associations indicative of large intrusive related copper-gold systems.

This sampling tested what Corazon has interpreted as high-grade ‘leakage structures’ extending from much larger, concealed, copper sulphide-rich hydrothermal centres.

These structures, in isolation, also provide prospective targets for further exploration and drilling.

“Corazon’s assessment that the numerous occurrences of copper-cobalt-gold mineralisation identified in late-1800s/early-1900s small scale mining operations may in fact be part of a much larger system, represents a significant advancement for the project, substantially increasing it’s potential,” Corazon Mining said in its ASX announcement.

 

Email: info@corazon.com.au

Website: www.corazon.com.au