Corazon tees off on Mt Gilmore copper-cobalt-gold porphyry target drilling
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Corazon Mining has kicked off drilling at the Mt Gilmore copper-cobalt-gold project in New South Wales in search of porphyry mineralisation.
Drilling will test Corazon’s (ASX:CZN) high priority Gordonbrook Hill mineralised porphyry intrusion coincident with a large multi-metal geochemical anomaly and an IP chargeability geophysical anomaly.
The two core holes to be drilled for an estimated 900m in the initial program will be the very first drill holes into the Mt Gilmore copper trend, where copper mineralisation has previously been encountered at surface.
The trend features a central, 8km strike copper-cobalt-silver-gold geochemical anomaly and has produced multiple high-grade rock chip and grab samples.
Corazon managing director Brett Smith said the company was keen to learn more about Gordonbrook Hill and Mt Gilmore.
“We are excited about the very first drill holes into the high priority Gordonbrook Hill target at Mt Gilmore,” he said.
“The drilling will test new concepts, targeting one area of what looks to be a very large mineralised hydrothermal system.”
The drilling at Mt Gilmore is expected to take around two months, with results to be released as they become available.
Meanwhile, work at Corazon’s flagship Lynn Lake project in Canada remains ongoing as a priority.
Recent work has focused on regional exploration, including drill testing anomalies at the Fraser Lake Complex (FLC) around 10km south of the Lynn Lake mining centre.
As announced in November, an aerial MobileMT geophysical survey identified a large area of conductance in a new area to the west of the FLC.
Drilling of these targets intersected favourable host rocks for nickel sulphide and extensive indications of magmatic sulphide mineralisation.
Subsequent downhole electromagnetic testing of the drilling identified large off-hole conductors which Corazon said in April could represent strong accumulation of magmatic nickel-copper-cobalt sulphide.
Fingerprinting of the identified downhole EM plates via post-processing of the MobileMT geophysics has identified numerous lookalike geophysical features within the FLC.
Corazon said drill testing of the conductor plates defined by the downhole EM surveys and the new, more discrete anomalies defined by recent reprocessing of MobileMT data was a priority for the company.
Drilling at Lynn Lake will be undertaken once ground conditions improve subsequent to the spring melt, which is currently in process.
Corazon’s Lynn Lake project spans the entire Lynn Lake nickel-copper-cobalt-sulphide mining centre in Manitoba – the first time the area has been under the control of one company since the project was last mined in 1976.
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.