Corazon seeks porphyry crown in May Queen copper-gold drilling

Corazon Mining begins drilling at the top priority May Queen copper-gold target within the Mt Gilmore Project in NSW
The 20km strike of the Mt Gilmore Project exhibits key traits of large porphyry copper-gold systems
Adjacent rock chips have returned as high as 75 per cent copper
Early identification of May Queen as a high-priority target early, gives Corazon a great chance to test advanced targeting methods from CODES and the University of Tasmania

Special Report: Drilling kicks off over a priority target at Corazon Mining’s May Queen prospect at the Mt Gilmore project in New South Wales, which boasts the hallmarks of a potential giant copper-gold porphyry.

Corazon Mining (ASX:CZN) has begun a much-anticipated deep diamond drilling campaign over the May Queen target, adjacent to rock chip results previously returned to the tune of 10.75% copper, 0.11g/t gold, and 74.7g/t of silver.

CZN believes the prospect has shown the mineral characteristics typical of giant porphyry copper-gold deposits. That conviction is supported by outcropping sulphide mineralisation, favourable hydrothermal alteration, a coincident high-copper-in-soil signature and geophysical anomalism.

Advanced alteration mineral chemistry studies put a spotlight on the prospect in April, and Corazon will now take a deeper look with an initial two holes for around 1000m of drilling.

Corazon managing director Brett Smith said the entire 20km strike running through Mt Gilmore displayed many characteristics of large porphyry copper-gold systems, and that May Queen was a particularly exciting target.

“The identification of May Queen as a distinct high priority target, at this very early stage of exploration, provides a great opportunity for Corazon and will be a good initial test of the advanced mineral vectoring targeting methodologies provided by CODES and the University of Tasmania,” Smith said.

The Mt Gilmore project contains a range of superb targets, including the northern May Queen prospect. Pic: CZN

Prowling for porphyries

The sheer heft of the copper-gold-cobalt-silver anomaly at Mt Gilmore represents a challenging task for Corazon, but the explorer believes the surface expression of a large hydrothermal system makes for a compelling play.

While May Queen’s early signs and location next to its namesake historical copper-magnetite skarn deposit is just cause for excitement, Corazon’s most advanced prospect for now remains the drill-defined Cobalt Ridge, a uniquely cobalt-dominant sulphide deposit located 15 kilometres northeast.

While typically lower in grade, the sheer scale of porphyry deposits means the style of mineralisation has historically yielded some of the world’s most profitable copper mines.

Near-constant warnings of copper shortfalls amid the global energy transition and falling grades from some of the world’s largest mines has continued to make their discovery a priority for both junior explorers and majors desperate for growth options in the hot commodity.

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.