Corazon Mining Ltd (ASX:CZN) non-executive director Jonathan Downes has demonstrated faith in the company’s nickel-copper-cobalt strategy with the purchase of shares in an on-market transaction.
On May 13 Downes acquired 2.5 million shares in an indirect interest of which he has a beneficial interest.
The purchase increased the total number of indirect securities held to more than 5.23 million as well as maintaining the more than 6.625 million shares held in a direct interest.
High-grade drilling results
Corazon recently recorded high-grade assays from its latest phase of drilling at the Lynn Lake Nickel-Copper-Sulphide Project in Manitoba, Canada.
All results have now been returned from the three-hole, 243.4-metre drill program completed at the A Orebody within the Lynn Lake Mining Centre.
The results have delivered further exceptional high-grade nickel, copper and cobalt intersections, including:
- 37 metres at 1.34% nickel, 0.50% copper and 0.040% cobalt from 8 metres, including 8.35 metres at 2.36% nickel, 0.66% copper and 0.063% cobalt from 17 metres; and
- 21 metres at 0.67% nickel, 0.50% copper and 0.020% cobalt from 8 metres.
This drilling defined additional areas of high-grade mineralisation with the potential to add to the project’s significant existing resource base.