Corazon Mining Ltd (ASX:CZN) is a base metals explorer advancing the Lynn Lake Nickel Copper Cobalt Mining Centre in Canada and the Mt Gilmore Cobalt Copper Gold Sulphide Project in NSW.
These two projects have the potential to supply strategic metals to what is forecast to be a major growth sector – the rechargeable battery industry.
Corazon is an aggressive explorer and in recent times has discovered new large sulphide systems at both the projects.
Lynn Lake Nickel Copper Cobalt Mining Centre - focus on Lynn Lake Nickel Precinct
The recent recovery in the price of nickel has led Corazon to undertake a strategic review of its Lynn Lake Project, creating the opportunity for accelerated exploration and development plans.
Priority targets for upcoming work programs will focus on near-surface mineralisation, as well as areas on-trend from the historical workings at Lynn Lake.
Corazon’s process for defining Lynn Lake’s development potential has included new quality resource estimations and modern metallurgy.
Notably, metallurgical work has delivered a major technical breakthrough, for the first time at Lynn Lake producing separate high-value and high-purity nickel and copper concentrates.
This work will underpin the commencement of a scoping study into the potential development of Lynn Lake.
With little modern exploration being undertaken, the opportunity for discoveries at Lynn Lake is substantial.
Mt Gilmore Cobalt Copper Gold Project- geophysical targets identified below large surface geochemical anomalies
Corazon has completed its 80% earn-in interest at Mount Gilmore by completing $2 million in exploration expenditure at the project within three years of commencement of the agreement with the project vendors.
The company has identified high tenor induced polarisation (IP) geophysical targets at Mt Gilmore which
are coincident with large copper-cobalt-silver soil anomalies with the priority target over 1 kilometre in diameter.
The target area previously returned high-grade rock chip assays up to 16.3% copper, 1,250 ppm cobalt and 1.29 g/t gold.
Corazon’s IP survey is ongoing, targeting recently discovered geochemical anomalies. Current field work is designed to define priority targets for the next phase of drilling.