Corazon targets new nickel-copper trend at Lynn Lake
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Special Report: Corazon Mining (ASX:CZN) has uncovered a new trend highly prospective for significant nickel-sulphide discoveries at the historic Lynn Lake project in Canada.
The historic Lynn Lake nickel-copper-cobalt mining centre is a major redevelopment opportunity for Corazon, which believes there’s a lot more metal to be found here.
A recent two-hole, 1,087m drilling program at the Fraser Lake Complex (FLC) at Lynn Lake has successfully intersected magmatic sulphide mineralisation, supporting the company’s exploration model in the hunt for major new deposits.
It also highlighted the prospectivity of a new trend called the Western Contact Zone (WCZ) WCZ), which extends the FLC prospect further 1km to the west and connects it to the Motruiuk Ultramafic Complex:
This drilling program has successfully opened up a much larger target area favourable for significant nickel-sulphide discoveries.
The WCZ – identified by Corazon as a potential host for gabbro-hosted nickel deposits – includes multiple geophysical anomalies, including magnetic highs, gravity highs, IP chargeability highs and EM conductors.
Typically, electromagnetic (EM) geophysics is an early stage survey method most suitable for identifying massive magmatic nickel sulphides.
But in the Lynn Lake area, EM geophysics has proven relatively ineffective due to near-surface ‘conductivity’ from swamplands, extensive barren sulphidic sediments and volcanogenic massive sulphide (VMS) deposits.
Corazon has successful trialled a new aerial geophysical method called MobileMT, which has been completed over much of the Lynn Lake project including the FLC and WCZ extensions.
Preliminary results prove that this innovative new geophysical method is highly effective in identifying nickel sulphide deposits, the company says.
Final data from this survey is expected this month and will be used to define targets for the next phase of drilling.
“The recent drill hole at the FLC has opened up a whole new region of opportunity and genetically linked the FLC to prospective ultramafic intrusions further to the west,” Corazon chairman Terry Streeter says.
“The geophysics and drilling completed to date have identified where we need to explore, but it’s a big area and we’ve lacked the ability to geophysically directly detect nickel massive sulphide.
“We’re hoping this new method, MobileMT, enables us to do this across the whole project area.”