Corazon drilling targets big nickel, copper payoff at Lynn Lake
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Mere weeks after finding a new nickel zone at its Lynn Lake project, Corazon is sinking the drillbit into the high priority South Pipe target.
South Pipe is the largest conductive target in the Fraser Lake Complex (FLC) at Lynn Lake – stretching from a depth of about 100m to 850m below surface – and is geophysically analogous to the high-grade EL Deposit at the Lynn Lake Mining Centre.
A successful discovery at South Pipe is likely to be supremely exciting for Corazon Mining (ASX:CZN) given its size and the fact that the EL Mine produced 1.9Mt of ore grading 2.4 per cent nickel and 1.15 per cent copper to a depth of just 250m below surface.
Drilling is currently underway at the third hole.
“This target is the most significant target generated by Corazon’s recent exploration,” managing director Brett Smith said.
“We will also conduct downhole EM surveys on all holes in the current program, which to date have shown good indications of mineralisation, to help further refine our targets for follow up drilling.”
The current drilling will test several high-priority targets – including the recently identified geophysical conductors – and comprises about 1,600 metres of diamond core drilling.
The South Pipe magnetic and conductive bodies are believed to be indicative of a deep-seated intrusive pathway that appears linked to known nickel-copper-cobalt sulphide mineralisation within the FLC, further to the north.
These are the first pipe-like bodies identified at the FLC and are similar to those observed within the Lynn Lake Mining Centre about 9km to the northeast.
Before its closure in 1976, the Lynn Lake Mining Centre operated for 24 years with an average grade of 1.02 per cent nickel and 0.54 per cent copper.
This article was developed in collaboration with Corazon Mining, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.