Corazon Mining Limited (ASX: CZN) has announced an encouraging update on the drilling at its Lynn Lake Nickel-Copper-Cobalt Sulphide Mining Centre Project in Canada.
The company reported that the first three holes were completed of the current ~1,200 metre diamond core drilling program at Lynn Lake Mining Centre.
CZN said that all three holes intersected strong nickel-copper-sulphide mineralisation, including a broad zone of more than 35 metres of sulphide mineralisation.
The company noted that the results to date are highly encouraging and consistent with the Lynn Lake-style of mineralisation, which historically supported a large-scale nickel mining camp.
It may be noted that Corazon’s drilling program is initially focused on areas within the main Lynn Lake Mining Centre, testing for near-surface mineralisation on-strike from existing resources and historic mines.
Corazon said that its drilling is designed to target the further expansion of Lynn Lake’s significant existing resource base.
Lynn Lake project
Corazon’s 100%-owned Lynn Lake Nickel-Copper-Cobalt Sulphide Mining Centre is located in Canada.
The current total Resource Estimate includes just six deposits within the Mining Centre. The current Resource includes 16.3Mt @ 0.72% Ni, 0.33% Cu, 0.033% Co (Indicated and Inferred, at 0.5% Ni cut-off), for total contained metal of 116,800t Ni, 54,300t Cu, 5,300t Co; with 5.4Mt @ 0.99 Ni, 0.41% Cu, 0.043% Co (Indicated and Inferred, 0.7% Ni Cut-off) of high-grade material.
Drilling at Lynn Lake
Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre, where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas, with the aim of further expanding the Project’s already significant resource base.
The company said that approximately 1,200 metres of diamond core drilling is planned for the current program, which is expected to be completed in the current month.
Three holes completed
CZN said that drilling has been completed for three holes (holes #5, #6, #7). The company said that the three completed holes have been drilled for a total of approximately 356 metres, and have targeted areas around the A Orebody, previously covered by infrastructure from the “A-Shaft” and processing plant area within the historical Lynn Lake Mining Centre.
It may be noted that the A Orebody was mined underground between 1953 and 1965, and produced 4.8 million tonnes at 1.07% nickel and 0.55%.
Strong nickel-copper-sulphide mineralisation intersected
The company announced that the three holes completed to date interested strong sulphide mineralisation, including heavy disseminations with narrow semi-massive zones, consistent with the typical Lynn Lake style of mineralisation.
Hole #5
CZN reported that hole #5 intersected at least five metres of good sulphide mineralisation before being terminated early due to intersecting what is interpreted to be the backfilled crown pillar stope
Holes #6
The company reported that hole #6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.
CZN said that this hole also intersected several zones of “siliceous ore”, a term which describes mineralised inclusions of sediment within the mafic intrusions.
The presence of these “siliceous ores” is important as they represent a source of high-grade (+1%) nickel mineralisation within the N Deposit in the southern part of the Mining Centre.
Hole #7
The company announced that hole #7 intersected a broad zone of plus 35 metres of strong sulphide mineralisation between 7 metres to 42 metres downhole. CZN noted that the bottom part of the holes is similar in character to Hole #6.
Latest updates
The company reported that in addition to testing the historical mining areas, several new high-potential areas geophysically analogous to the Lynn Lake sulphide deposits have also been defined within the Lynn Lake Mining Centre, representing further resource upside potential.
Corazon reported that it has also recently increased its interest in the Mt Gilmore Cobalt Copper Gold
Sulphide Project located in New South Wales, Australia.
The Company said that it has recently completed definition drilling at the Cobalt Ridge Deposit and is currently identifying new areas prospective for additional Cobalt Ridge lookalike deposits.