Corazon Mining (ASX:CZN) reports that initial assays from its maiden drilling program at the Chalice Gold Project have returned ‘broad’ gold zones, including 4m @ 9.93 grams per tonne gold (Au).
The company received results from the first two reverse circulation (RC) holes of a planned 50-hole, 7,500m phase one program at the project in Western Australia’s Higginsville district.
Both holes intersected gold mineralisation, with results including 27m @ 1.26g/t Au from 180m and 22m @ 1.29g/t Au from 172m. The company says these downhole widths are an early indication of continuity south of the historical Chalice open pit.
Corazon also highlights that these are the most northerly holes in the Chalice program and are collared at the southern edge of the open pit. With this, drilling is now stepping out progressively south and up-plunge of the known mineralisation.
Managing Director Simon Coyle describes this as an ‘encouraging’ start for Chalice.
“[This is] exactly the kind of result we want to see as we begin testing beyond the limits of the historical pit,” Coyle says.
Corazon reports hole 26CRC001 intersected 27m @ 1.26g/t Au from 180m, including 12m @ 1.43g/t Au from 180m and 7m @ 1.42g/t Au from 200m. Hole 26CRC002 intersected several zones over a 50m downhole window between 161m and 211m, including 4m @ 9.93g/t Au from 207m.
The intercepts sit approximately 125–175m below surface and 100m below the base of the historical pit. Corazon notes that both holes intersected mineralisation at comparable downhole depths, demonstrating potential continuity between the holes. The holes are spaced roughly 40m apart.
The program aims to test continuity of mineralisation up to 1,000m south of the open pit to 200m vertical depth. The drilling is also the first test of Corazon’s Chalice exploration target of 9.7–12.3 million tonnes @ 1.9–2.1g/t Au for 600,000–830,000 ounces contained Au. This target is inclusive of the JORC 2012 mineral resource estimate.
The company says a second RC rig is scheduled to arrive on site this week, with the program planned for completion in November.
Corazon Mining is a gold explorer and producer primarily focused on its Chalice Gold Project in Western Australia’s Eastern Goldfields.
Write to Paula Fabe at Mining.com.au
Main image: Corazon Mining
