Corazon Mining (ASX:CZN) reports the geochemical targeting program at Mt Gilmore has ‘delivered excellent results’, which establishes May Queen as a high priority target.
Corazon has commenced planning for a maiden drilling program. As a first step in the drill planning process, the company will seek to engage with landowners in the project area, as well as with regional stakeholders.
Corazon plans to commence drilling at the May Queen target as a key priority upon granting of all requisite approvals for drilling.
Corazon, which has a $6.15 million market capitalisation, says May Queen displays ‘favourable’ hydrothermal alteration, along with coincident surface copper-in-soil and geophysical anomalism.
Drilling is planned after uncovering a new, high-priority porphyry copper-gold target at May Queen, which has a 2km strike length and mineral chemistry analogous with other ‘giant’ porphyry copper-gold deposits in New South Wales.
The target was identified through mineral chemistry targeting methods undertaken by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania (UTAS).
May Queen sits at the northern end of the Mt Gilmore Trend, a copper-cobalt-gold trend over 20km long, considered prospective for intrusion-related copper-gold deposits.
Managing Director Brett Smith says the geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment.
“Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on. We’re hoping the targeting process completed has mitigated the need to do this.
Drilling of the May Queen will now be a high-order priority for the company.”
Corazon Mining is an Australian mineral resources company with a portfolio of critical minerals projects in Australia and Canada.
Write to Adam Drought at Mining.com.au
Images: Corazon Mining
