Corazon Mining Ltd (ASX:CZN) has struck an ‘immediate-priority’ target following its latest drilling campaign in Canada.
This target at the Fraser Lake Complex, part of the company’s Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba Province holds the rich promise of massive sulphides.
A drilling program, which just wrapped up, consisted of four holes across 2,143 metres and allowed Corazon to map a sulphide-rich feeder conduit for approximately 3.5 kilometres, intruding into the Fraser Lake Complex.
The new target will be prioritised in the company’s next phase of exploration drilling, expected to start in early 2022.
Matrix Trend
The focus of Corazon’s attention is on a mineralised intrusive conduit called the Matrix Trend, a geophysical anomaly defined by geophysical surveys between 2016 and 2018.
From west to east along the Matrix Trend there is an increase in nickel and copper content, as well as an increase in the mineral size of pentlandite (nickel-sulphide) and chalcopyrite (copper-sulphide).
Corazon has drilled 20 holes in the Matrix Trend geophysical anomaly area since 2017, over a strike of about 1.6 kilometres. Information from this work, including geochemistry and the mapping of sulphide morphology, has refined the company’s modelling and supports its hypothesis that there are untapped riches to be found eastward along the Matrix Trend.
Features consistent with sulphides
The Matrix Trend is part of a magma conduit, exposed by erosion, which has ‘punched’ into the older Fraser Lake Complex. The change in sulphide composition and morphology along this conduit provides a vector to sulphide accumulation and makes this an excellent spot for the company to commence its drilling activities.
New modelling of geophysical datasets reveals that it plunges into the complex and into an area of higher density, indicating ultramafic lithologies or peridotites, which have a strong spatial and timing association with massive nickel, copper and cobalt sulphide deposits.
The current interpretation of the Matrix Trend is that it is a ‘vapour trail’ of sulphide-rich magma that has intruded into the Fraser Lake Complex. Sulphide-rich and ultramafic melts are very hot, less viscous, potentially more penetrative and will travel further than gabbroic melts.
The possible existence of ultramafic in the area, intruding close to the surface, gives the company great confidence that it is a superb target and a focus of exploration early in the new year.
Untested area
Corazon is heartened by the knowledge that, while the high-density Matrix Trend is close to the surface, it has not previously been recognised or tested with drilling.
The existence of peridotites at the Fraser Lake Complex would enhance the possibility of the discovery of a Lynn Lake-style mineralised system.
Corazon has submitted core samples for analysis and expects results in February.