Posts

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

 

Corazon Mining Defines new Mt Gilmore Cobalt-Copper Anomalies

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced assay results from an on-going regional geochemical soil-sampling program at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining completed the extensive geochemical sampling program by collecting a total of 3,533 soil samples and 206 rock-chip samples at Mt Gilmore acquiring the project in 2016, with 3,335 assays now returned.

The company explained the program had been designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from the drill-defined Cobalt Ridge deposit, which has been Corazon’s priority target.

The soil-sampling program resulted in the discovery of multiple, new, high-tenor cobalt-copper-gold anomalies – with soil sampling results of up to 450ppm cobalt and 1,060ppm copper, supported by rock chip samples grading up to 1,795ppm cobalt and 16.3 per cent copper.

Corazon’s sampling program has tested approximately 19 kilometres of the Mt Gilmore Trend and has identified extensive metal-rich anomalism in soils over basement rocks, from which the company has deduced the metal-association and size of the anomalies to suggest the wider project area could host a substantial, long-lived hydrothermal mineralising event.

“The company’s geochemical sampling program has proven highly effective in mapping alteration and mineralisation within the outcropping basement rocks at Mt Gilmore, with results correlating positively with known mineralisation and identifying multiple new target areas,” Corazon Mining said in its ASX announcement.

“The results to date have far exceeded the company’s expectations, already identifying several new priority prospects, and, with most of the anomalous areas yet to be explored in detail, strong potential exists to define additional new targets.

“The tenor of these newly discovered cobalt anomalies are on par with the outcropping Cobalt Ridge deposit and potential exists for the discovery of additional cobalt-copper-gold sulphide deposits.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Expands Cobalt Ridge Mineralisation

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced assay results from a recently completed drilling program at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining completed the drilling, which was focused on the Main Lode at the Cobalt Ridge deposit, a cobalt dominant sulphide deposit.

Assay results have been returned from the drilling program that included 21 holes, comprising reverse circulation (RC) and core drilling.

Drilling has demonstrated the east-west trending Main Lode to be up to 35 metres in width and has now been tested over an approximate 300 metre strike with drilling focused on depths predominantly less than 170 metres below surface.

The broad Main Lode includes multiple narrow, higher-grade sulphide rich lodes and returned numerous assays of over one per cent cobalt.

The best result from this program was a high-grade intersection of 5 metres at 2.14 per cent cobalt.

“This drilling has returned exceptional results and has enabled us to gain a much higher-level geological understanding of the deposit,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.

“Our ongoing work should enable us to more accurately express the potential of the Cobalt Ridge deposit, which is our core aim, and we expect to be able to announce more about this in the coming weeks.”

Corazon Mining said Cobalt Ridge remains substantially under-drilled and there is demonstrated potential to define additional areas of mineralisation.

The company said the results from this current drilling program had provided a much better understanding of the controls on the mineralisation – knowledge it will put to use to identify additional drilling targets within Cobalt Ridge, as well as regionally with the greater Mt Gilmore project area.

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Upgrades Lynn Lake Mineral Resource

THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) released a new, upgraded Mineral Resource Estimate for the company’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

The updated JORC Code 2012-compliant Resource has come in at:

15.3 million tonnes at 0.72 per cent nickel, 0.34 pe cent copper, 0.034 per cent cobalt (Indicated and Inferred, at a 0.5%Ni cut-off), for total contained metal of 110,400 tonnes nickel, 51,400 tonnes copper, 5,200 tonnes cobalt.

The upgraded Resource also includes a high-grade Resource Estimate of:

5.2 million tonnes at 1 per cent nickel, 0.41 per cent copper, 0.044 per cent cobalt (Indicated & Inferred, 0.7%Ni cut-off).

Corazon Mining explained the new Resource Estimate represents more than a 60 per cent increase in total tonnes and a 35 per cent increase in nickel and copper metal, in comparison to its previous JORC Mineral Resource Estimate of 2015.

Of further interest is that this time, cobalt has been included in the new Resource Estimate (historically excluded), which the company considers adds further value.

Corazon Mining said the new Resource provides an excellent foundation upon which it can now base mining and development studies.

These studies are expected to be undertaken subsequent to detailed metallurgical testwork, which is currently in progress and scheduled for completion by the end of this year.

“This Resource represents a huge improvement in quality from the previous work and, along with the first modern metallurgical testwork which is currently underway, will give us a very clear indication of Lynn Lake’s value and what is needed for the redevelopment of the Mining Centre,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Hits High-Grade Cobalt at Mt Gilmore

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) released the first batch of assay results from an ongoing drilling program underway at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining has received assay results from five holes (MGRC041 – MGRC043 and MGRC045) completed at the priority Cobalt Ridge prospect.

The company declared assay results received from three of the holes to be highly encouraging, adding they have identified multiple cobalt-rich lodes within a broader package of mineralisation that identifies the Main Lode at Cobalt Ridge.

A highlight to date is a high-grade result of:

MGRC042
5 metres at 2.14 per cent cobalt within a broader intersection of 27m at 0.47 per cent cobalt from a down-hole depth of 49m.

Corazon has interpreted this result to have identified the faulted-off western extension of the Main Lode, saying it is highly representative of the main target at Cobalt Ridge.

“We are very pleased with these results,” Corazon Mining managing director Brett Smith said in the company’s announcement to the Australian Securities Exchange.

“Cobalt Ridge is an intensely altered, structurally complex system and every drill hole helps us gain a greater understanding of this deposit.

“It’s a hole by hole process, however the results continue to validate and strengthen the company’s belief that Cobalt Ridge has the potential to host a significant sulphide-dominant cobalt deposit, the understanding of which can then be applied to the greater Mt Gilmore project area.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Kicks of Next Drill Phase at Mt Gilmore

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has commenced a new phase of drilling at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining indicated the drilling will initially focus on priority targets within and around the Cobalt Ridge deposit and will also target priority features generated by a recently completed 3D Induced Polarisation (IP) geophysical survey.

Corazon also proposes to progressively drill-test new, priority target areas within the wider project area it has generated during its ongoing regional soil sampling program.

The current geochemical soil sampling program (on a 200 metre by 200 metre pattern) of approximately 3,000 samples over a strike of more than 18 kilometres, along the trend hosting Cobalt Ridge is designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from Cobalt Ridge.

“The soil sampling program has been highly successful, and to date has resulted in the discovery of six high-tenor cobalt-copper-gold anomalies, within a contiguous 10 kilometre strike around cobalt Ridge, plus three high tenor anomalies at the Lantana Downs prospect, located a further two kilometres to the north,” Corazon Mining said in its ASX announcement.

“These anomalies provide the discovery potential for multiple Cobalt Ridge ‘lookalike’ deposits, which would significantly expand Mt Gilmore’s cobalt-copper-gold sulphide endowment; they will be further defined via infill sampling on a 50 metre by 50 metre pattern, before being ranked and prioritised for drilling in the current phase of drilling.”

Corazon anticipates the drilling to be completed in this current quarter and will provide details on the progress of drilling in due course with results to be released as they become available.

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Increases Mt Gilmore Cobalt Potential

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) is focused on identifying new cobalt-copper-gold sulphide targets within the company’s Mt Gilmore project in New South Wales, including the identification of extensions to the Cobalt Ridge deposit.

Corazon Mining claimed the recent discovery of four substantial cobalt-copper-gold anomalies, resulting in a total of six areas requiring further testing, within a contiguous 10 kilometre strike around the Cobalt Ridge deposit.

This is in addition to three high-tenor Lantana Downs anomalies the company announced in April, located a further 2km to the north.

The company considers the new anomalies to be of some significance, placing them on a par in tenor to the soil geochemical anomaly for the outcropping Cobalt Ridge deposit.

They were defined during an ongoing project-wide 200 metre by 200 metre soil sampling program.

Corazon now intends bringing the spacing in to conduct infill soil sampling to a 50 metre by 50 metre patterns to further define and refine potential drill targets.

The company’s next phase of drilling at Mt Gilmore is expected to commence in early July and will initially focus on infill and extension testing at Cobalt Ridge, and also provide a first-pass test of priority features generated by the recently completed 3D Induced Polarisation (IP) geophysical survey.

“The company plans to complete approximately 14 holes for about 2000 metres of reverse circulation (RC) and core drilling at Cobalt Ridge,” Corazon Mining said in its ASX announcement.

“The drilling contractor has been engaged and is expected to mobilise to site during the first week of July.

“The company will advise the market on the commencement of drilling and provide additional exploration results as they become available.

“The proposed drilling will also progressively test new target areas within the wider Mt Gilmore project area generated by the company’s ongoing regional soil sampling program.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Produces Battery-Grade Cobalt at Mt Gilmore

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has completed metallurgical testwork at the company’s Mount Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining said the Phase 3 metallurgical testwork at the Mount Gilmore project delivered a high-grade cobalt concentrate with the potential to supply the emerging global battery technology sector.

The company explained the Phase 3 metallurgical testwork focused on defining down-stream concentrate processing options, the results from which demonstrated exceptional recovery rates of cobalt, copper and gold from drill samples from the Cobalt Ridge deposit, using conventional processing routes.

Conventional flotation testwork delivered a high-grade cobalt-copper-gold concentrate – of up to 7.38 per cent cobalt – from high-grade Cobalt Ridge samples, as well as excellent concentrate grades from lower low-grade samples.

Corazon said the combination of high-grade concentrates and very high recoveries delivered in the testwork provides it with the opportunity to potentially either produce a high-value bulk concentrate for direct sale, or to develop an in-house down-stream processing plant.

“The mineralisation at Cobalt Ridge has several beneficial characteristics,” Corazon Mining said in its ASX announcement.

“A key advantage for the processing is the sulphide mineralisation, which allows for a smaller sulphide/metal concentrate to be produced prior to down-stream processing.

“This would likely significantly reduce the capital and operating costs of a down-stream plant, compared to having to process a bulk feed.

“The company has continued to undertake systematic testwork programs on mineralisation from the Mt Gilmore project in parallel with its ongoing exploration activities.

“The testwork programs are designed to confirm the suitability of the project’s mineralisation to produce a high-quality product(s) for use in the battery technology sector.”

 

Email: info@corazon.com.au

Website: www.corazon.com.au

 

Corazon Mining Identifies new Cobalt Anomalies at Mt Gilmore

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) claimed discovery of three new cobalt anomalies at the company’s Mt Gilmore cobalt-copper-gold project in New South Wales.

Corazon Mining identified the anomalies while conducting an ongoing soil sampling program at Mt Gilmore.

The anomalies are located in the northern extent of the project at the Lantana Downs prospect approximately 12 kilometres north of the priority drill-defined Cobalt Ridge cobalt-copper-gold sulphide deposit.

The company said the discovery of the three high tenor soil anomalies – with up to 949ppm cobalt – further highlights the potential of the Mt Gilmore project to host a much larger cobalt system than it initially considered.

The current phase of exploration at Mt Gilmore is designed to identify new areas of cobalt mineralisation that have the potential to compliment the Cobalt Ridge deposit.

“The current area of exploration was historically explored for volcanogenic massive sulphide (VMS) deposits, with cobalt not previously tested,” Corazon Mining said in its ASX announcement.

“The basement rocks between Lantana Downs and Cobalt Ridge host numerous historical copper-gold sulphide workings, which provide the discovery potential for multiple Cobalt Ridge ‘lookalike’ deposits.”

Three soil anomalies have been defined based on geochemical signature and location.

The Southern Lantana Anomaly is very similar in tenor and multi-element association to that seen in the Cobalt Ridge soil-sampling program.

The cobalt-copper-gold anomaly is at the intersection of at least two mineralised trends and returned a peak cobalt assay of 151ppm.

The Central Lantana Anomaly has a cobalt-antimony-zinc-lead multi-element association with a peak cobalt result of 224ppm and in general appears to be a higher tenor than that observed in soil sampling at Cobalt Ridge.

The Northern Lantana Anomaly is located over what is interpreted to be a lateritic (weathered) serpentinised ultramafic.

Within the soil sampling results, cobalt peaks at 949ppm and nickel at 0.7 per cent, with the tenor of mineralisation increasing towards the north and east, yet to be closed off.

 

Email: info@corazon.com.au

Website: www.corazon.com.au