Corazon is gearing up for drilling of higher priority targets at Lynn Lake. Pic: via Getty Images.
‘Groundbreaking’: New geophysical method leads to nickel-copper sulphide discovery at Corazon’s Lynn Lake
Mining
share
- Drill assays confirm intercepts of nickel-copper-cobalt sulphides at Lynn Lake
- Further high priority targets to be explored in next phase of drilling
- These results are just the beginning; Corazon hopes to bring Lynn Lake back into production
Corazon has intersected a ‘pipe-like’ nickel-copper-cobalt rich body at its historical Lynn Lake project in Manitoba, Canada.
The two-hole drill program targeted the 30m diameter MTC-3 geophysical anomaly at the Fraser Lake Complex (FLC) at Lynn Lake, which was uncovered using an innovative 3D induced polarisation (IP) and magnetotelluric (MT) geophysical survey.
This is in an area where no other geophysical techniques had been effective, the company says.
The drilling intersected visible nickel and copper sulphides in a pipelike body that forms part of a much larger, previously unrecognised 500m wide pipe with significant potential to host additional sulphide mineralisation.
Assays of holes FLC-2023-057 and FLC-2023-058 returned results of 1.85m grading 0.34% nickel and 0.24% copper from a down-hole depth of 226.75m, and 0.8m at 0.4% nickel and 0.09% copper from 24.8m respectively.
Corazon Mining (ASX:CZN) notes that the assays reflect typical low-to-medium grade Lynn Lake mineralisation and reaffirms its interpretation that this intrusion was a single pulse of metal rich magma, and part of a more substantial, previously unrecognised, intrusive centre within the FLC.
Hole FLC-2023-057 also intersected 55.4m of complex sulphide mineralisation with metre scale intervals of massive sulphide, intermixed with semi-massive to disseminated style sulphide mineralisation.
The best intercept of 15.6m at 0.12% nickel and 0.11% copper from 194.4m is low-grade and fine-grained in characteristic, possibly suggesting a rapid precipitation of the sulphides, which would prevent the time required for nickel and copper enrichment.
What’s equally important to the company is that the drill program has verified the ability of innovative 3D induced polarisation and magnetotellurics geophysical surveying techniques in directly detecting a mineralised ultramafic intrusive of just 30m in diameter in an area where no other geophysical techniques have been effective.
Bringing Lynn Lake back into production
The company’s operations at Lynn Lake are aimed at ultimately bringing the nickel-copper-cobalt project — which had produced 206,200t of nickel and 107,600t over a period of 24 years up to 1976 — back into production.
Key to this work is exploring for new mineralisation at the FLC where the company has defined a large 6km by 3km magmatic sulphide system and tested a 1.5km by 1.5km area with wide-spaced drilling.
The recent two hole program target the MTC-3 target, the first conductive geophysical anomaly identified by the recently completed 3D IP+MT geophysical survey to be tested.
Notably, Corazon notes that MTC-3 was not the highest priority target and was only picked as a quick, initial test of these new geophysical exploration techniques due to seasonally wet ground conditions that prevented access to the other more significant targets.
It adds that nickel sulphide deposits occur in clusters and are hosted by mafic to ultramafic gabbroic intrusive bodies impacting each other.
These along with other factors suggests there is good potential for exploration at the FLC, which hosts multiple dense, pipe-like bodies as defined by the survey.
Other work underway to restart Lynn Lake include the appointment of environmental consultant Stantec Consulting to carry out environmental assessment work for the proposed re-development.
Nickel in demand as Canadian resources exploration ramps up
Corazon’s interest in bringing Lynn Lake back into production is well-placed. After all, the project is prospective for several commodities that are crucial for ongoing decarbonisation efforts.
EV makers are said to be desperately short on nickel while copper is forecast to see a supply deficit of up to 6Mt by the end of the decade.
It also comes as interest in Canada as an exploration destination grows due to its reputation as a Tier 1 mining jurisdiction, abundant resources and proximity to the US.
More drilling to come
The combination of drilling success and growing demand has the company eager to continue exploration at Lynn Lake.
It notes that additional, higher priority targets within the geophysical survey test area are yet to be drilled and are a key focus for future drilling.
These include the top-ranked MTC-1 anomaly, which is adjacent and sub-parallel to the Matrix Trend (a mineralised IP chargeability high) and on-trend with pipe-like gravity high bodies identified by a recent air gravity survey, and the MTC-2 anomaly that is located at the intersection of the Matrix Trend with a northwest trending deep crustal gravity structure.
Furthermore, the new ground-breaking geophysical methods have only tested about 20% of the FLC exploration area and planning is underway to expand the surveyed area.
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.
