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Corazon Mining Ltd. (ASX:CZN) kicks off mining studies at Lynn Lake

Summary

  • Corazon has involved an international mining consultancy, Polaris, to conduct the mining studies.
  • The new phase of mining studies will assess optionality and define the most appropriate implementation strategy to develop long-life, modern and economical mining operations.
  • The Lynn Lake project was historically mined for over 24 years as one of North America’s premium nickel operations. The mine produced over 206,200t nickel and 107,600t copper until its closure in 1976.
  • Currently, the Lynn Lake project holds a significant JORC 2012 resource of 116,800t of nickel, 54,300t copper and 5,300t of cobalt with substantial potential for expansion of resource base.

Premium battery metals player Corazon Mining Limited (ASX: CZN) announced the commencement of new mining studies at the wholly-owned Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada.

Corazon has involved an international mining consultancy, Polaris, to conduct the mining studies.

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Lynn Lake – Among the best nickel sulphide "brownfields" exploration plays in North America

The burgeoning demand for quality Class-1 Nickel from the energy storage sector bolsters the potential for redevelopment of the flagship Lynn Lake Project. Located in Manitoba, the Lynn Lake Nickel-Copper-Sulphide Project is strategically situated close to the extremely rewarding North American market and ports for international markets.

The Lynn Lake project was historically mined for over 24 years as one of North America’s premium nickel operations. The mine produced over 206,200t nickel and 107,600t copper until its closure in 1976. Corazon has already consolidated the historical mining centres under sole ownership since the closure of the mining operations in 1976.

Currently, the Lynn Lake project holds a significant JORC 2012 resource of 116,800t of nickel, 54,300t copper and 5,300t of cobalt with substantial potential for expansion of resource base.

The new phase of mining studies will assess optionality and define the most appropriate implementation strategy to develop long-life, modern and economical mining operations. The commencement of the mining studies is an important step towards the development of the Lynn Lake project. The application of modern and advance mining and processing technologies will assist in minimising the operating costs.

Source: © Malpetr | Megapixl.com

As part of the study, Polaris would concentrate on –

  • Geology
  • Geotechnical
  • Mining strategy, and
  • Processing

The studies will focus on assessing and maximising the synergies and interactions to develop an optimal pathway for the project. The outcome of the studies will include a revised mining strategy for the entire mineralised area with focus on optimal production rates and minimum operating costs.

Exploration programs at Lynn Lake

The latest exploration work focuses on regional exploration and drilling the geophysical anomalies at the Fraser Lake Complex (FLC). An aerial MobleMT geophysical survey had revealed large conductors to the west of the FLC.

The drilling at these targets had delivered promising results with significant indications of magmatic sulphide mineralisation. Further, the down-hole electromagnetic (DHEM) testing revealed large off-hole conductors that may characterise bulk magmatic nickel-copper-cobalt sulphide mineralisation.

The drilling at the conductor plates from the DHEM surveys and other new discrete anomalies identified from the reprocessing of the MobileMT survey data have been recognised as priority for the company. The drilling program is anticipated to commence once the ground conditions improve, after the ongoing spring melt.

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