Corazon Mining Limited is an Australian resource company with projects in Australia and Canada. The commodity mix of the company’s projects has put it in a strong position and allowed it to take advantage of the growing demand for metals required for the booming rechargeable battery sector.
In Canada, Corazon has consolidated the entire historical Lynn Lake Nickel Mining Centre in Manitoba. It is the first time Lynn Lake has been under the control of one company since the mine’s closure in 1976. Lynn Lake hosts a large JORC nickel-copper-cobalt resource which has given Corazon a major development opportunity that is becoming increasingly prospective due to recent increases in the value of nickel and cobalt metals. Both metals are also expected to have strong demand outlooks due to their importance for the emerging global electric vehicle industry.
The drilling in Lynn Lake includes an initial priority exploration program comprising six holes for approximately 2000 metres. These holes will test four targets within the Lynn Lake Mining Centre. Additional holes are in the pipeline depending on the results of the initial exploration. Furthermore, a metallurgical drilling program has also been planned to secure samples for further metallurgical test work.
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The ongoing geological and resource modelling studies by the Mining Centre indicate that they are a significant number of areas which have not been effectively tested by prior drilling. These studies highlight potential opportunities for discovering additional mineralization and potential resources in and around the existing nickel sulphide deposits and mine infrastructure.
Corazon has previously conducted successful drilling in the Mining Centre with results including 22.6 metres @ 2.30% Ni, 0.82% Cu, 0.068% Co from 24.4 meters, 4.5 metres @ 1.17%Ni, 0.22% Cu, 0.029% Co from 25 metres and 4.1 metres @ 2.09% Ni, 0.57% Cu, 0.073% Co from 26.9 metres.
Samples from the metallurgical drilling will primarily be used for ore-upgrade and ore-sorting studies. The bench-scale test work undertaken recently on upgrading the Lynn Lake mineralization has shown promising results. This work is a critical component of Corazon’s strategy to transform Lynn Lake into a long-life, low-cost, nickel sulphide mining operation.
Apart from Lynn Lake, Corazon is also exploring the Miriam Nickel-Copper Sulphide Project (Miriam) in Western Australia and the Mt Gilmore Cobalt-Copper-Gold Sulphide Project (Mt Gilmore) in New South Wales.
Miriam is a highly prospective nickel sulphide exploration project, representing a strategic addition to Corazon’s portfolio of nickel sulphide assets. At the same time, Mt Gilmore focuses on a regionally substantive hydrothermal system with extensive copper, cobalt, silver and gold anomalism. Mt Gilmore also includes the Cobalt Ridge Deposit – a unique high-grade cobalt-dominant sulphide deposit.