Special Report: Corazon is eager to find out what lurks underneath the surface at Lynn Lake, with drilling again underway on a new high-priority nickel sulphide target.

After a short hiatus while Corazon Mining (ASX:CZN) waited for surface conditions to stabilise at its Lynn Lake nickel-copper-cobalt project in Manitoba, Canada, drilling is back in full swing.

Current drilling at Lynn Lake is focused on a priority exploration target at the Fraser Lake Complex (FLC), 5km south of the Lynn Lake mining centre.

This compelling new target is twice as large as ‘A Plug’, one of the two historic mining areas at Lynn Lake.

A new geophysical target at FLC — covering an area of at least 350m by 200m, about 450m below surface — has been identified by a number of different geophysical methods and is ‘pregnant’ with nickel-copper sulphides.

The first-ever drill hole into this untouched target was partially completed in the previous quarter, reached the top of the defined anomaly before drilling was paused due to seasonal flooding.

Crucially, this hole is showing an increase in sulphide content at depth — closer to the geophysical target — which is in line with the company’s geological model.

Corazon has consolidated the entire historic Lynn Lake nickel-copper-cobalt mining centre — the first time this project has been under the control of one company since mine closure in 1976.

The mine operated for 24 years, producing about 206,200 tonnes of nickel and 107,600t copper.

Lynn Lake is a major redevelopment opportunity for Corazon, which believes there’s a lot more metal to be found here.

Drilling of the new target is expected to take about 10 days. Depending on the outcome, Corazon will then map out its further drilling plans around the target area.


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.