Corazon Mining (ASX: CZN) has confirmed a significant high-grade nickel/copper sulphide discovery beneath the historic EL Mine at the Lynn Lake Project in Canada, after receiving initial assay results from drilling.
The company said the discovery may represent a breccia body similar to the high grade nickel/copper/cobalt sulphide mineralisation mined at surface within the EL mafic/ultramafic pipe.
On May 24 Corazon announced that hole XND001W1 had intersected about 23 metres of semi-massive sulphide breccia from 731.25 metres downhole.
Highlights from initial assays include:
- 23.75 metres at 3.34% nickel (Ni), 1.54% copper (Cu) & 0.079% cobalt (Co) from 731.25m including; 13m at 4.27% Ni, 0.89% Cu & 0.099% Co from 732m.
The company said results indicated 70 metres of additional stringer/matrix sulphide mineralisation marginal to the sulphide breccia.
The true width has yet to be defined, however previously mined breccia (near surface) has a diameter of 80-120 metres.
Corazon is continuing drilling to a planned depth of 1,250 metres.
Additional results from stringer/matrix and disseminated mineralisation are due this month and downhole geophysics are planned for mid July, with additional drilling to continue subsequent to results.
The EL Mine was the highest grade deposit in the Lynn Lake district, producing 1.9 million tonnes (Mt) at 2.5% nickel and 1.15% copper until it closed in 1976.