Corazon Mining (ASX: CZN) has been granted a trading halt by the ASX pending drilling results from the Lynn Lake Nickel Sulphide project in Canada, with the company's shares placed in pre-open.
Earlier in the month Corazon defined additional nickel sulphide mineralisation at Lynn Lake.
Drilling at the 150 Prospect identified two near surface zones of sulphide mineralisation, one with widths of up to 41 metres down-hole.
Highlights from early May include:
- 9.07 metres at 0.81% nickel, 0.53% copper and 0.016% cobalt from 14 metres; and
- 6.00 metres at 0.64% nickel, 0.61% copper and 0.016% coblat from 78 metres.
Corazon also reported in early May that extension drilling at the EL Deposit is continuing, with nickel sulphides intersected.
Corazon has an option to acquire 100% equity in Lynn Lake, which is located in the central Canadian province of Manitoba, which hosts the historic EL Nickel Mine.
The Lynn Lake nickel camp is Canada’s third largest nickel mining region, which produced 22 million tonnes of nickel/copper/cobalt ore between 1953 and 1976, with only minimal exploration in the region since.
Corazon is the largest land holder in the Lynn Lake Camp, and in addition to the EL Mine, the project area contains several drill defined base metal deposits and numerous un-tested geophysical anomalies.
The area is well serviced with mining infrastructure and support, offering rapid development potential.
The Thompson Nickel Refinery is located 320 kilometres from the project and is accessible by all weather roads.
In addition there is rail access (currently under care and maintenance) to the Flin Flon zinc-copper refineries around 250 kilometres to the south.