Corazon Mining (ASX: CZN) has intersected further nickel/copper sulphide mineralisation below the historic below the historic EL Mine, at the Lynn Lake Nickel Sulphide Project in Canada.
The Lynn Lake nickel camp is Canada’s third largest nickel mining region, producing 22 million tonnes of nickel/copper/cobalt ore between 1953 and 1976.
Assays from drilling completed last month have been received, with results including 2.23 metres at 3.84% nickel, 0.41% copper and 0.092% cobalt from 715.25 metres; and 1.42 metres at 3.99% nickel, 0.36% copper and 0.027% cobalt from 724 metres.
Meanwhile, first assay results from the latest round of drilling are expected in early November 2011.
Wedge hole XND001W2 lies parallel to a discovery intercept of 23.75 metres at 3.34% nickel, 1.54% copper and 0.079% cobalt, and intersected 26 metres of matrix to semi-massive sulphide mineralisation from 715 metres down hole.
The results of Corazon’s drilling so far are some of the highest recorded nickel grades in the Lynn Lake mining camp.
Drilling to date has only tested close to the northern fault-bounded top of the mineralised system and defines only a small portion of the targeted electromagnetic conductor.
Drilling of the conductor is continuing, with the commencement today of a hole that will test the conductor deeper and further to the south of drill hole XND001W2, within the host ultramafic rock.
Past results bode well for present
The EL Mine was the highest grade mine in the Lynn Lake district, producing 1.9 million tonnes at 2.5% nickel and 1.15% copper from 1954 to 1962.
The deposit was mined to a depth of 210 metres whilst mining at adjacent deposits has shown that mineralisation extends to more than 1,100 metres below surface.
Corazon announced the discovery of high-grade, semi-massive nickel/copper mineralisation below the EL Mine in June this year. Corazon’s current exploration is focused on better defining the size and potential of the sulphide breccia mineralisation at the new discovery.
Corazon has an option to acquire 100% equity in the Lynn Lake Nickel Sulphide Project.