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Summary
- Current phase of drilling program completes at FLC2020-22, drilled up to 704 metres, indicates the potential for gravitational aggregation of Sulphides.
- Drilling not intersected with basal contact, drill hole remains open may commence further drilling upon the outcomes of the planned geophysical surveys within August
- Drilling program continues on the Western Contact Zone hosting geophysical anomalies
Corazon Mining Limited (ASX: CZN), the battery metals explorer, announced an update on the ongoing drilling program at the Lynn Lake Nickel-Copper-Cobalt Sulphide project in Manitoba, Canada. Lynn Lake is considered among the best brownfield plays in entire North America.
Geology representation of Lynn Lake Source: Corazon Mining
Corazon has completed drilling at the first hole (FLC2020-22) of the current phase of the program and now continues with drilling at the second priority hole.
The current drilling activities focuses on the priority targets at the Fraser Lake Complex (FLC), some 5 kilometres from the historical mining sites within the Lynn Lake project area. Following the drilling program at the historical mining centres, Corazon targets new substantial Nickel sulphide mineralisation at the Fraser Lake Complex.
Drill Hole FLC2020-22 at the Current Diamond Drilling Program
The hole FLC2020-22 has been scheduled to assess a magnetic high which may be consequent to the gravitational accumulation of Sulphide mineralisation at the base of the gabbroic intrusion within the FLC. Hole FLC2020-22 was drilled to 704 metres with a vertical depth of almost 530 metres below the surface. The drilling hole did not intersect basal contact of the intrusion, defined by existing geophysical surveys.
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Corazon has planned a geophysical survey in August and is expected to assess and provide critical details on the targets at depth. The first drill hole has been intentionally left open, to be utilised for further drilling below the existing depth.
The drill hole FLC2020-22 until now has not intersected any substantial sulphide aggregations. Sulphide in the interstices with up to ~8% has been recorded within the gabbro. Sulphide mineralisation within gabbros at Lynn Lake are predominantly associated with pyrrhotite (iron) and minor amounts of pentlandite (nickel) and chalcopyrite (copper).
Additionally, the characteristics within gabbro as tested by the first priority drilling hole indicated gravitationally separated sulphide minerals with magmatic layering endorsing the potential agglomeration of dense minerals including sulphides near the basal contact and in coherence with the target model.
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Western Contact Zone: The priority drilling Prospect
The drilling program now targets the second priority drilling prospect within a new focus area, the Western Contact Zone (WCZ) is located almost 800 metres northeast from FLC2020-22 within the Fraser Lake Complex.
The Western Contact Zone exhibits various geophysical anomalies with the drilling activity commencing on the initial target (FLC2020-23), coincident with the gravity high, magnetic high, Electromagnetic conductor and IP chargeability highs.
The WCZ area has been generated following the reprocessing of the geophysical data. The WCZ target is interpreted to be associated with Motruiuk Complex, an ultramafic intrusion which includes peridotites, with minor gabbroic units at the Fraser Lake Complex. The outcomes of the drilling will be assessed and released as and when available.
Read Here: Corazon committed to turning “Nickel” into Dollars, Corazon’s Lynn Lake Ni Project
Corazon traded at $0.0020 a share at 2:31 PM AEST on 18 August 2020, with a market capitalisation of $6.51 million.
All financial information pertains to Australian Dollar unless stated otherwise.
