Corazon Mining Ltd (ASX:CZN) has a dual exploration focus, which includes the Mount Gilmore Project located in New South Wales, which hosts one of the highest grade cobalt deposits in Australia.
The project has a large hydrothermal alteration system, with extensive occurrences of mineralisation and very little modern exploration.
Corazon also has 100% control of the Lynn Lake Project in Canada where the focus in nickel-copper-cobalt.
The company is now heading to market to lift its cash position, with the ASX granting a trading halt to prepare.
The halt will remain in place until the opening of trade on Monday 21st August 2017, or earlier if an announcement is made to the market.