Mt Gilmore Project NSW

Corazon Mining identifies new copper Porphyry target at Mt Gilmore, NSW

Corazon Mining (ASX:CZN) has identified a new target area for a potential porphyry copper deposit following a mineral chemistry vectoring study at its Mt Gilmore Project in New South Wales.

The initial results, completed on rock and chip samples at the University of Tasmania, demonstrate similar signatures to known large deposits and reinforce Corazon’s focus on ongoing exploration in New South Wales.

The company also notes that these recently conducted studies along the Mt Gilmore Cu-Au-Co trend demonstrate a complex hydrothermal history and geochemical characteristics that are particularly known with other similar Cu deposits.

In addition, the returned results support the project’s prospectivity for copper mineralisation and deliver further potential for the company to define the size and fertility of any hosted mineralized systems.

the returned results support the project’s prospectivity for copper mineralisation

Finally, studies undertaken at the May Queen deposit indicate a high temperature hydrothermal alteration overprint of an early classic skarn system, possibly linked to porphyry copper mineralisation.

With the aim of better defining the complex hydrothermal history of the Mt Gilmore area, the detailed paragenetic study of mineral assemblages provided evidence for an early porphyry copper deposit-related and late skarn-style mineralising hydrothermal activities at Gordonbrook Hill.

The study also found evidence of high temperature hydrothermal alteration overprint of an early classic skarn system (possibly porphyry related) at May Queen.

At the cobalt sulphide-dominant Cobalt Ridge Deposit, the study demonstrated early high temperature magmatic-hydrothermal fluids with cobalt and later lower temperature copper-rich phases.

The Mt Gilmore Project is located about 35km from the city of Grafton in north-eastern New South Wales with Corazon Mining owning 80% interest for all associated tenements.

The project is prospective for hosting multiple rare, cobalt-rich sulphide deposits that boast similar signatures to Cobalt Ridge.

With the Mineral Chemistry Vectoring Studies successfully elevating the prospectivity of the project, Corazon reports it plans to move forward with commencing its next phase of exploration at the project for next month.

Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.