Corazon Mining Ltd (ASX:CZN) has identified four new cobalt-copper-gold anomalies through soil sampling at its Cobalt Ridge prospect within the Mt Gilmore Project, New South Wales.
Significantly, the new geochemical anomalies extend the known cobalt-mineralised system at Cobalt Ridge.
The area now measures three kilometres in strike and one kilometre in width, and is open in all directions.
Builds case for project to host cobalt dominant sulphide deposits
The findings strengthen Corazon’s exploration model for the Mt Gilmore Project to host significant cobalt dominant sulphide deposits.
The Cobalt Ridge prospect is focused on a small area of outcrop where past exploration and small-scale mining identified cobalt dominant cobalt-copper-gold sulphide mineralisation.
Assays peaked at 133 ppm cobalt and 1,360 ppm copper
Peak assay results from the 310 samples submitted included 133 ppm cobalt, 1360 ppm copper and 1500 ppb gold.
By comparison, past results for the outcropping Cobalt Ridge areas peaked at 271 ppm cobalt, 4320 ppm copper and 900 ppb gold.
Furthermore, Mt Gilmore has produced rock chips grading up to 26.8% copper and 9.2 g/t gold in addition to the cobalt mineralisation.
Exploration ongoing to define drill targets
Exploration at the project is ongoing and includes additional sampling, mapping and geophysics, which will be used to define specific targets for the next phase of drilling.
Corazon recently observed disseminated sulphide mineralisation in recent diamond drilling completed at its Lynn Lake Project in Canada.
READ: Corazon Mining intersects widespread sulphide mineralisation at Lynn Lake
The program consisted of five holes for 1,415 metres and assays remain pending.