Proactive’s Tylah Tully breaks down ‘Just the Facts’ from the latest ASX announcement of Corazon Mining Ltd (ASX:CZN, OTC:CRZNF).
It has made encouraging geological observations from its maiden two-hole, 798-metre drill program at the May Queen porphyry target within the Mt Gilmore Copper-Gold Project in northern New South Wales.
The drilling intersected porphyritic intrusive rocks with intense alteration and low-level sulphide mineralisation, indicative of a porphyry copper-gold system.
Key findings included the presence of copper sulphide minerals, such as bornite and chalcopyrite, within epidote-chlorite-quartz veins, supporting the model of a large-scale porphyry copper-gold deposit at May Queen.
The newly identified target is 6.5 kilometres northwest of Corazon’s previous drilling at Gordonbrook Hill and 15 kilometres northwest of the Cobalt Ridge deposit. The drilling program was informed by advanced alteration mineral chemistry studies, soil geochemistry surveys, and an Induced Polarisation (IP) survey.
Further exploration, including expanded geophysical coverage, is under consideration.