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Corazon Mining Commences Mt Gilmore Copper-Gold Drilling at May Queen

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has started drilling at the May Queen copper-gold porphyry target within the company’s Mt Gilmore project in New South Wales.

Corazon Mining is to carry out an initial two-hole diamond core program testing the priority May Queen target that it identified by way of two phases of advanced alteration mineral chemistry studies earlier this year.

Corazon considers the May Queen prospect to hold mineral chemistry characteristics typical of giant porphyry copper-gold deposits supported by outcropping sulphide mineralisation, favourable hydrothermal alteration, a coincident high-copper-in-soil signature, and geophysical anomalism.

“May Queen is a particularly exciting target,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“The entire twenty-kilometre strike of the Mt Gilmore project displays many characteristics typical of large porphyry copper-gold systems.

“The identification of May Queen as a distinct high priority target, at this very early stage of exploration, provides a great opportunity for Corazon and will be a good initial test of the advanced mineral vectoring targeting methodologies provided by CODES and the University of Tasmania.”

The May Queen target is located approximately 6.5 kilometres northwest of Corazon’s most recent drilling at Mt Gilmore at the Gordonbrook Hill prospect, and 15 kilometres northwest of the project’s most advanced exploration prospect, the drill-defined Cobalt Ridge cobalt-copper-gold sulphide deposit.

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Corazon Mining Makes High-Grade Zinc Acquisition

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) is to acquire three drill-defined zinc-copper-gold deposits, near the company’s 100 per cent-owned Lynn Lake nickel-copper-cobalt sulphide project in the province of Manitoba, Canada.

Corazon Mining sees zinc-copper as possible high-value feedstock for a future mineral processing operation at Lynn Lake while maintaining the company’s Canadian focus on critical minerals.

The three deposits add to Corazon’s existing portfolio of seven zinc-copper-gold deposits within its 100 per cent-owned Lynn Lake tenure, and include:

The high-grade MacBride deposit that hosts historically published metal endowment, with continuity from surface to approx. 300m drilled depth.

The deposit has been drilled by previous owners over a 400m strike and remains open in all direction – the deposit is part of a 1,800m long EM conductor defined by modern aerial geophysics.

The Wellmet prospect displays surface copper and EM conductors.

Drilling of the main zinc horizon at Wellmet over a 240m strike has defined mineralisation from surface to approx. 370m depth.

Limited exploration drilling at the Barrington prospect has targeted a small outcrop reportedly approx. 107m in strike, averaging 4.6m in width and 2.63 per cent copper.

Corazon outlined its immediate work on the deposits will be focused on collating historical exploration data and defining the resource potential of the zinc-copper deposits within the Lynn Lake region and defining new targets and deposit extensions utilising the company’s own extensive dataset of modern geophysics.

“Our strategy for the Lynn Lake mining studies is to deliver low operational costs,” Corazon Mining chairperson Terry Streeter said in the company’s ASX announcement.

“The knock-on effect of this is that with lower costs, there are lower cutoff grades, resulting in a much larger mining inventory for consideration, within the existing resource areas.

“We don’t need more tonnes.

“This VMS concept is about value.

“The grade we see in some of these zinc-copper deposits is very good, and we will seek to establish if this is value we can exploit up-front for a restart of mining at Lynn Lake.

“Alternatively, we will explore whether the VMS deposits are better suited to mining later in the project’s mine plan.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Corazon Mining Defines New Mt Gilmore Porphyry Copper-Gold Target

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has defined a new, large-scale, high-priority porphyry copper-gold target at the company’s Mt Gilmore project in New South Wales.

Corazon Mining explained the new target, known as the May Queen target lies adjacent to the historically identified May Queen copper-magnetite skarn deposit.

The company described it as being a feature of approximately two kilometres in strike, located in the northern extent of the Mt Gilmore Trend, which Corazon has defined as a copper-cobalt gold trend over 20 kilometres in length, considered prospective for intrusion-related copper-gold deposits.

Corazon is of the opinion that large, regional-scale and complex geochemical anomalies like Mt Gilmore are well suited to mineral chemistry targeting programs, rather than conventional geophysics and blind drilling.

To this end the company had a geochemical program undertaken at Mt Gilmore by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania (UTAS) to define higher confidence drill targets.

The program found the May Queen target displays favourable hydrothermal alteration, along with coincident surface copper-in-soil and geophysical anomalism.

Corazon has commenced planning for a maiden drill program at May Queen, which will include access requirements and all drilling approvals.

“The results of our body of work with CODES at UTAS has been a great success for the company, and our exploration of the Mt Gilmore project,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“The geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment.

“Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on.

“We’re hoping the targeting process completed has mitigated the need to do this.

“Mt Gilmore displays many characteristics typical of large porphyry copper systems, and the outcomes of the work by CODES has helped define what is interpreted as a high-priority drill target at the May Queen prospect.

“Drilling of the May Queen will now be a high-order priority for the company.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Corazon Mining Divests Miriam Lithium Rights to Future Battery Minerals

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) is to boost its coffers via divestment of the lithium and industrial minerals rights and tenement title for the Miriam nickel sulphide and lithium project in the Eastern Goldfields of Western Australia.

Corazon Mining has struck a sale agreement with Future Battery Minerals (ASX: FBM) that will result in the latter company, through its wholly owned subsidiary Eastern Coolgardie Goldfields Pty Ltd, acquiring 85 per cent of Coolgardie Nickel Pty Ltd, a wholly owned subsidiary of Corazon.

Corazon will utilise the funds received from this sale and the funds previously allocated to drilling at the Miriam lithium anomaly to advance activities at the Lynn Lake nickel-sulphide project in Canada and the Mt Gilmore copper-gold-cobalt project in Australia.

Future Battery Minerals likes the location of the Miriam project as a strategic acquisition that consolidates its landholding in the region being immediately north of the company’s Kangaroo Hills lithium project (KHLP).

“Given our strong belief in the Kangaroo Hills lithium project, this acquisition represents an opportunistic and logical move to further consolidate our landholding in the region,” Future Battery Minerals managing director Nicholas Rathjen said in the company’s ASX announcement.

“The Miriam project offers a highly prospective, drill-ready opportunity.

“This strategic addition is on ground endowed with confirmed outcropping spodumene lithium-bearing pegmatites and we look forward to commencing work at Miriam immediately, conducting detailed target generation with first drilling to commence during Q3 CY24.”

 

 

TO READ THE FULL FUTURE BATTERY ANNOUNCEMENT: CLICK HERE

 

TO READ THE FULL CORAZON ANNOUNCEMENT: CLICK HERE

 

 

Corazon Mining (ASX: CZN) managing director Brett Smith

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VIDEO DIARY: Corazon Mining (ASX: CZN) managing director Brett Smith zoomed into The Resources Roadhouse to tell Wally Graham about recent advances at the Fraser Lake Complex within the company’s Lynne Lake Project in Canada.

Corazon Mining Enlists University to Identify Porphyry Copper System

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) has used a study by the University of Tasmania to identify a new target area it considers having potential as a porphyry copper deposit at the company’s Mt Gilmore project in New South Wales.

Corazon Mining explained the new porphyry copper target area has been generated from initial results of a mineral chemistry vectoring study conducted by the university and based on the results of this work, Corazon plans to undertake a new phase of targeted fieldwork at the Mt Gilmore project.

The Mt Gilmore project is located within the New England Orogen of northeastern NSW where Corazon has carried out geochemical and geophysical surveys that have indicated potential for concealed intrusion related or porphyry copper-gold hydrothermal systems.

However, identifying precise drill targets has proved difficult due to the size of the geochemical anomalies, poor surface exposure and lack of historical drilling.

Work by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania has included porphyry vectoring and fertility tools (PVFTs) to assist in the exploration for blind mineral deposits.

Corazon indicated its next plans will include a phase of exploration at the Mt Gilmore project next month.

This will include surface rock-chip sampling for detailed Mineral Chemistry Vectoring Studies and geophysical surveys (possibly gravity and IP), initially targeting the Gordonbrook Hill prospect.

This low impact exploration is expected to be completed over the next three to four months, subject to availability of geophysical contractors.

 

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au

 

Corazon Mining to Acquire WA Nickel Project

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has picked up an exclusive option to acquire the Miriam nickel project in the Goldfields of Western Australia.

Corazon Mining believes the acquisition of the Miriam project will complement the company’s core asset, being the more advanced Lynn Lake nickel-copper-cobalt sulphide project in Canada.

The Miriam project is a prospective nickel exploration project hosting the Miriam nickel deposit, where historic drilling intersected high nickel tenor massive and disseminated sulphides.

Initial defining drill intercepts for the Miriam deposit included:

9.6 metres at 5.6 per cent nickel;
12.5m at 0.56 per cent nickel;
3.2m at 2.59 per cent nickel;
0.9m at 5.57 per cent nickel; and
6.1m at 0.9 per cent nickel.

The company sees the Miriam project acquisition as a strategic opportunity to expand its portfolio of nickel sulphide assets and add to its nickel inventory, in a rapidly increasing global market appetite for quality Class-1 nickel, driven by the rising demand from the rechargeable battery sector.

“The Miriam project presents an opportunity to strategically add to our nickel project portfolio and provide a new exploration asset to complement our quality nickel sulphide project at Lynn Lake in Canada,” Corazon Mining chairman Terry Streeter said in the company’s ASX announcement.

“What attracted us to Miriam is the amount of sulphide that has been identified on that trend from the historical, widely spaced exploration drilling.

“There is a lot of smoke, and we believe, that with modern high-powered geophysics, there is a good opportunity to better define nickel sulphide concentrations along strike or down-dip from the defined prospects.

“The Miriam project exhibits a high-nickel content in the nickel sulphides intersected in previous drilling.

“There are multiple channel sequences that have potential to host nickel sulphide, along with broad zones of cloud sulphide within the ultramafics drilled along strike to the north and south.

“We are currently undertaking project due diligence and once its completed, we will advise of the outcome.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au

 

Brett Smith Corazon Mining (ASX: CZN) April 2021

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Corazon Mining (ASX: CZN) has used new technology to identify new drill targets leading to a new ground acquisition at the company’s Lynn Lake nickel project in Canada. The company’s managing director Brett Smith zoomed into The Resources Roadhouse to tell us how its follow up of the oldest technology – drill rigs – has progressed.

Corazon Mining Identifies Multiple Conductors at Lynn Lake

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) reported news from the first phase of a 2021 drilling campaign at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba Province, Canada.

Corazon completed three holes in this phase of drilling at Lynn Lake, which the company said has resulted in a successful first-pass test of a new target area west of the Fraser Lake Complex (FLC).

Drilling also confirmed the technology used to identify the new drill targets – MobileMT’s effectiveness in identifying areas most favourable for magmatic nickel-copper-cobalt sulphides at Lynn Lake.

All holes drilled within the target area west of the FLC intersected favourable host rocks and extensive indications of magmatic sulphide mineralisation.

“The aerial MobileMT geophysics identified a large area of conductance, previously not recognised as prospective for nickel-copper sulphides,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“Our first round of drilling in this area intersected the right rocks and some good magmatic sulphides that enhances the potential of the target area.

“Now, with the detailing of DHEM conductors of a good size, that support the MobileMT interpretations, we have expectations that this large conductive trend to the west of the Fraser Lake Complex has the makings of a nickel-copper sulphide target area similar in size to the Lynn Lake mining centre.”

With drilling now complete, Corazon is conducting a DHEM program of holes on this phase and previous phases of drilling.

The company believes DHEM will more accurately define conductive bodies close to drill holes, within larger areas of anomalism defined by the aerial surveys.

 

 

Email: info@corazon.com.au

Web: www.corazon.com.au

 

Corazon Mining Drilling Priority Lynn Lake Target

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THE DRILL SERGEANT: Corazon Mining (ASX: CZN) commenced new drilling at the company’s Lynn Lake nickel-copper-cobalt sulphide project in Manitoba Province, Canada.

Corazon Mining has started drilling at the high priority South Pipe target as part of this current phase of drilling.

The South Pipe is a substantial conductive anomaly located on ground recently acquired by Corazon and has been designated as the company’s the highest priority target of the current phase of drilling.

The South Pipe target was generated by an aerial MobileMT geophysical survey at Lynn Lake in late 2020.

Corazon is also preparing to conduct downhole electromagnetic geophysical surveys (EM) on all holes in the program designed to refine targets for follow-up drilling.

“we are excited to have commenced drilling at the South Pipe,” Corazon Mining managing director Brett Smith said in the company’s ASX announcement.

“This target is the most significant target generated by Corazon’s recent exploration.

“We will also conduct downhole EM surveys on all holes in the current program, which to date have shown good indications of mineralisation, to help further refine our targets for follow up drilling.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au