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Mining
Special Report: Corazon Mining (ASX:CZN) is restarting drilling at the compelling new Fraser Lake Complex (FLC) nickel-copper-cobalt target at the Lynn Lake project in the Manitoba Province, Canada.
Explorer Corazon has consolidated the entire historic Lynn Lake nickel-copper-cobalt mining centre — the first time this project has been under the control of one company since mine closure in 1976.
The mine operated for 24 years, producing about 206,200 tonnes of nickel and 107,600t copper.
Lynn Lake is a major redevelopment opportunity for Corazon, which believes there’s a lot more metal to be found here.
Current drilling at Lynn Lake is focused on a priority exploration target at the Fraser Lake Complex (FLC), 5km south of the Lynn Lake mining centre.
This compelling new target is twice as large as ‘A Plug’, one of the two historic mining areas at Lynn Lake.
A new geophysical target at FLC — covering an area of at least 350m by 200m, about 450m below surface — has been identified by a number of different geophysical methods and is ‘pregnant’ with nickel-copper sulphides.
The first-ever drill hole into this untouched target was partially completed in the previous quarter, reached the top of the defined anomaly before drilling was paused due to seasonal flooding.
Crucially, this hole is showing an increase in sulphide content at depth — closer to the geophysical target — which is in line with the company’s geological model.
This sulphide mineralisation is dominated by pyrrhotite (iron sulphide), with variable quantities of pentlandite (nickel sulphide) and chalcopyrite (copper sulphide).
Corazon has now successfully completed a site inspection and green-lighted the recommencement of drilling this hole into the large anomaly.
Personnel and equipment are being mobilised to site, and drilling is scheduled to recommence by the end of July.
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