Corazon Mining Ltd (ASX:CZN) has started the next phase of drilling at Lynn Lake Nickel-Copper-Cobalt-Sulphide Project in Manitoba province of Canada with testing underway of identified conductors west of the Fraser Lake Complex.
Six priority drill targets have been identified within a large area of conductance to the west of the main FLC intrusion, adjacent to drill-defined nickel-copper-cobalt sulphide mineralisation.
Investors have welcomed the news with shares almost 10% higher to A$0.057.
Three high-priority targets
This phase of drilling will initially target the three highest priority targets and will comprise approximately 1,600 metres of core drilling, with subsequent drilling dependent on the results.
The results will be released as they become available and will include, if appropriate, statements regarding definitive visual evidence of significant sulphide mineralisation.
Corazon is awaiting approvals for drilling the high priority South Pipe target and plans to drill this target upon granting of exploration permits.
South Pipe conductor
An additional priority target area for drilling is the South Pipe conductor - the most substantial, and highest priority, conductive anomaly defined by a MobileMT survey.
The high priority South Pipe target is located on newly acquired tenure.
Approval of exploration permits for this area are pending, and the company plans to drill this target as a priority once applications have been granted.