Corazon's new target at Lynn Lake is on the hot list for drilling next year. Pic: via Getty Images
Corazon Mining is all over a potential feast of nickel-copper-cobalt at Lynn Lake
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Corazon’s belief that there’s plenty of metal remaining at its Lynn Lake nickel-copper-cobalt project has received a boost after drilling identified a fresh major target.
Data from the company’s recent four-hole program to test western and eastern extents of the Matrix Trend mineralised intrusive conduit at the Fraser Lake Intrusive Complex (FLC) was combined with geophysics to map out a 3.5km long sulphide rich feeder conduit that intrudes into the FLC.
Corazon Mining (ASX:CZN) noted that variations in geochemistry, sulphide composition and form noted in drilling along the Matrix Trend had provided a vector to sulphide maturity and possible accumulation sites.
Ultramafic magnificence
Additionally, new geophysical modelling indicates the mineralised conduit feeds into an area of high density within the FLC, a geophysical signature indicative of ultramafic rocks.
The company has good reason to be excited as ultramafic lithologies within the Lynn Lake Mining Centre have a close spatial and timing association with lucrative massive nickel-copper-cobalt sulphide deposits.
As such, finding an area of high density not previously recognised or tested has gotten hearts pounding and put the newly identified zone right at the top of the company’s priority list in its next phase of exploration due in the very new year.
Samples from the four holes have been submitted with analysis with results expected in February 2022 while drilling at Lynn Lake has progressed to the historical Mining Centre, where a hole is currently being drilled at the ‘EL’ nickel-copper-cobalt sulphide deposit to provide samples for further metallurgical testwork.
Entering the Matrix Trend
The Matrix Trend, now interpreted to be part of the broader 3.5km intrusive complex, is an induced polarisation chargeability high first defined by geophysical surveys between 2016 and 2018.
It is interpreted to be an exposed part of a magma conduit that had “punched” into the older and more fractionated Fraser Lake “gabbroic” complex.
Corazon has drilled 20 holes in the Matrix Trend since 2017 with information from this drilling, including geochemistry and the mapping of sulphide morphology, has refined models and supports a maturing of sulphide generation eastward along the Matrix Trend.
The Lynn Lake mystery
The company’s Lynn Lake Project in Canada is a historically significant mining operation that produced about 206,200 tonnes of nickel and 107,600t copper over 24 years before it was closed in 1976.
Despite this, the project was only partially developed and mined.
This is best evidenced by the current resource of 116,800t of nickel, 54,300t of copper, and 5,300t of cobalt that is mostly drilled out to a pre-mining stage.
There is also plenty of potential for the discovery of more mineralisation as seen by the discovery of the untested conduit.
Should Lynn Lake be confirmed as a long-life, bulk, low-cost mining operation, there will certainly be no lack of demand for any of the metals that it will produce given the strong demand in the battery and electric vehicle sectors.
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.
