Corazon Mining kicks off 2022 exploration targeting new nickel-copper-cobalt sulphide deposits
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A 2022 exploration program begins across Corazon Mining’s Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada’s Manitoba province where an airborne gravity survey is underway.
The survey is focused on refining gravity targets (dense bodies), such as individual massive sulphide deposits and small isolated mafic plugs similar to the high-grade El Mine ahead, which are planned to be drilled inthe next phase of exploration drilling.
Corazon (ASX:CZN) says initial results from the gravity survey are expected this month, with plans for drilling to be finalised ahead of commencement within the March quarter.
Of immediate priority is the Fraser Lake Complex (FLC), around 5km south of the Lynn Lake Project’s main mining centre.
The company’s exploration of the FLC so far has identified a sulphide rich conduit (an intrusive horizontal channel or feeder zone), extending 3.5km and intruding as a late-event into a pre-existing gabbroic complex.
Geophysical modelling of existing 200m spaced gravity data indicates this conduit feeds into a large dense body, approximating to the centre of the FLC’s “eye”.
The potential for massive sulfide deposits to exist in close association with ultramafic lithologies, within the extremely mineralised FLC, is a priority exploration focus for Corazon.
CZN’s 2021 exploration program identified a new priority target area at the FLC where focus has been on the Matrix Trend, an IP chargeability high anomaly defined by geophysical surveys between 2016 and 2018.
This Matrix Trend is interpreted to be an exposed (by erosion) part of a sulphide-rich magma conduit that has “punched” into the older and more fractionated Fraser Lake “gabbroic” complex.
The intrusive conduit can be traced laterally over 3.5km, from the “South Pipe” intrusion to the southwest of the FLC.
New modelling of geophysical datasets indicates the conduit system plunges into the FLC and into an area of higher density, which is indicative of ultramafic lithologies.
The possible existence of ultramafic within the FLC, intruding close to the surface provides an excellent target, and a focus for exploration in early 2022.
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.