Special Report: A newly discovered mineralised porphyry at the Mt Gilmore copper cobalt-gold project in NSW is now a priority drilling target, Corazon Mining (ASX:CZN) says.

Porphyry deposits, formed by the cooling magma of ancient volcanos, are responsible for ~60 per cent of the world’s copper, most of its molybdenum, and significant amounts of gold and silver.

They are a grand prize for any explorer or miner.

Corazon’s Mt Gilmore project is centred on a +20km long anomalous (low grade) copper, gold, silver, cobalt and molybdenum trend.

The source of this metal anomalism has yet to be determined.

Today, the company announced that the latest phase of exploration had uncovered a 300m long outcropping porphyry intrusion at the Gordonbrook Hill prospect.

Corazon’s porphyry intrusion is surrounded by subvolcanic rocks — indicating the proximity to a volcanic eruption centre.

It also corresponds with a large copper-gold geochemical anomaly and an IP chargeability geophysical anomaly.

And it has never been drilled.

“The proximity of this porphyry-subvolcanic unit with copper-gold mineralisation and IP chargeability high anomalism highlights the potential for a nearby large copper-gold mineralisation system,” Corazon says.

“This discovery has significantly advanced the prospectivity of the Mt Gilmore Project.”

Detailed planning for drilling is now underway.


This story was developed in collaboration with Corazon Mining, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.