Sponsored

Corazon Mining (CZN) Acquires New Prospective Area, Lynn Lake Project Area Expanded

  • November 23, 2020 09:36 PM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
    16991 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Corazon Mining (CZN) Acquires New Prospective Area, Lynn Lake Project Area Expanded

Summary

  • Corazon has acquired a new prospective tenement adjacent to the Fraser Lake Complex. The newly acquired area hosts a recently identified large geophysical conductor
  • The geophysical conductor at the South Pipe target is planned to be tested in the upcoming drilling program and hosts 2 parallel piped bodies open at depth
  • Drilling program under planning stage and the drilling works are anticipated to commence by the end of 2020, contingent on the COVID-19 restrictions.

Seasoned critical metals explorer, Corazon Mining Limited (ASX: CZN) announced the acquisition of new ground at the flagship Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba province of Canada. The newly acquired area included a significant geophysical anomaly.

Must Read: ‘Game changer’ tool helps Corazon Mining discover new drill targets at Lynn Lake

Corazon had concluded an aerial MobileMT geophysical survey at the Lynn Lake identifying numerous anomalies which indicated Ni-Cu-Co mineralisation. The significant and highest priority geophysical anomaly was defined by the MobileMT survey. The anomaly was located on the vacant tenures outside the project area.

MobileMT survey results at the Lynn Lake project Source: Corazon Mining ASX Update 23 November 2020

The new anomaly comprises of two large magnetic pipes like bodies, of which one is conductive with the potential of a deep intrusive pathway which is understood to be associated with the known nickel copper-cobalt sulphide mineralisation of the Fraser Lake Complex (FLC).

Image: Kalkine Group 2020

Upcoming Exploration Program at Lynn Lake

To test the identified priority targets at Lynn Lake, Corazon intends to arrange a northern winter drilling. Corazon plans to commence the drilling as soon as practicable contingent on the Covid-19 restrictions in Canada.

The initial drilling program will prepare the access tracks and drill sites. The work will be conducted as soon as possible prior to the drilling, which is set to commence early in the new year.

Also Read: ASX listed Corazon Mining (CZN) identifies new Ni-Cu sulphide targets at Lynn Lake

South pipe Target - The South Pipe magnetic anomaly includes 2 parallel pipe-like bodies almost one fifty metres apart and is a major geophysical feature in the region west of the FLC. The southern body is conductive, almost 100 metres beneath the surface. The northern pipe body is not conductive but is a strong magnetic body with a geophysical signature similar to Motruiuk Ultramafic Complex (peridotite) in the north.

Suggested Read: Corazon Outlays Exploration Milestones at Lynn Lake & Mt Gilmore in the Annual Report

These features are first of its shape (pipe like) at the FLC and has been identified as an exploration target similar to the historically mined El deposit with recorded historical production of 1.9Mt with 2.4% Ni and 1.15% Cu.

Drill Targets and the Expanded Fraser Lake Complex (FLC)

The new conductors identified from the MobileMT geophysical survey have been prioritised on the basis of their intensity and coincidental anomalism with other characteristics. Further, a detailed definition of the proposed drilling and priority targets is progressing.

The greater Fraser Lake Complex (FLC) includes several intrusive mafic/ultramafic bodies at the main FLC body, Motruiuk Ultramafic Complex, the Southeast Lobe, the South Pipe and the regions which join these prospects. The intrusive complex is now understood to be twice the size at the historical Lynn Lake Mining Centre.

Must Read: Corazon Announces the Completion of Drilling Program at Lynn Lake

Corazon mining closed at $0.003 a share on 23 November 2020 with a market capitalisation of $9.76 million.

All financial information pertains to Australian Dollars unless stated otherwise.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK