Corazon is on the hunt for nickel at Lynn Lake
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Corazon Mining (ASX:CZN) is now spinning the drill bit in its search for nickel-copper-cobalt sulphide mineralisation at its Lynn Lake project in Canada.
The company is carrying out an initial program totalling about 1600m to test three out of six priority targets at the project.
Drill targets include recently identified, untested geophysical conductors at the Fraser Lake Complex prospect, which is adjacent to drill-defined nickel-copper-cobalt sulphide mineralisation.
Results will be announced as they become available and will determine if subsequent drilling is carried out.
Corazon is also awaiting approvals for drilling the high priority South Pipe target and plans to drill this target upon granting of exploration permits.
Drilling had been delayed as a result of extremely poor weather conditions.
The Lynn Lake project in Manitoba is a historically significant mining centre which represents a major redevelopment opportunity for the company.
Corazon is the first the company to have control of the consolidated historical Lynn Lake nickel camp since it closed in 1976 after some 24 years of continuous mining.
While there’s an existing indicated and inferred mineral resource of 16.3 million tonnes at 0.72% nickel, 0.33% copper and 0.033% cobalt, or a total resource of 116,800t of nickel, 54,300t of copper and 5,300t of cobalt, there is potential for more metal to be found.
In November 2020, the company completed a MobileMT geophysical survey that identified a number of previously untested priority targets.
The MobileMT survey – a modern technology that Corazon described as a potential ‘game-changer’ – had demonstrated improved effectiveness over standard ground and aerial electromagnetic surveys, in differentiating magmatic sulphide conductors from non-economic conductors.
It was able to decipher many of the false conductors detected by EM surveying which, in conjunction with other geophysical data, identified new areas of interest for Corazon.
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.