Corazon Mining (ASX: CZN) has intersected gold, silver, copper, lead, zinc and bismuth mineralisation at its Top Up Rise Project in Western Australia’s Gibson Desert region.
The early results from its ongoing maiden drilling program have confirmed the project’s potential to host economic copper-gold mineralisation.
Drilling targets an unexplored gravity anomaly that has a core of about 10 kilometres by 6 kilometres and is located in an area considered favourable for Iron-Oxide Copper Gold mineralisation similar in style to Olympic Dam, Prominent Hill and Carapateena.
Peak results include 176ppb gold, 1.96ppm silver, 0.16% copper, 773ppm lead, 712ppm zinc and 9.73ppm bismuth.
It added the mineralisation appears to cover an extensive area as the drill holes assayed to date are about 2.6 kilometres apart, supporting its view that the sulphides intersected are distal from the mineralising source.
The company added that major structures and potential fluid pathways have yet to be tested.
However, it noted that having the gold and silver in strong association with copper suggested that it was in the right environment for the models that it is targeting.
While only a small assay data set is available, this indicates that gold, silver, copper and bismuth appear to be associated with quartz veining, while the lead and zinc appear to be more host-dependent.
The closest outcrops (some 20 kilometres away) are anomalous in IOCG pathfinder minerals (including rare-earths, haematite, magnetite, copper, gold and uranium) and are adjacent to a large Proterozoic age intrusive alteration system with geochemical characteristics common to known world-class copper-gold deposits.
Corazon has the right to earn up to 75% equity interest in Border Exploration, owners of 100% equity in the Top Up Rise Project.
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