Proactiveinvestors Australia Corazon Mining Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Corazon Mining Ltd RSS feed en Sun, 16 Jun 2019 21:00:56 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Corazon Mining uses new technology to enhance Lynn Lake prospectivity ]]> https://www.proactiveinvestors.com.au/companies/news/221508/corazon-mining-uses-new-technology-to-enhance-lynn-lake-prospectivity-221508.html Corazon Mining Ltd (ASX:CZN) is using a new innovative geophysical processing technique to identify multiple new targets at Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.

Modelling of magnetic data utilising Magnetic Vector Inversion (MVI) has proven extremely beneficial for Corazon by opening up the prospectivity of the Lynn Lake Mining Centre.

It does so by identifying known previously mined ore bodies and resource areas down to at least 600 to 700 metres below surface.

This new method has proven more effective and accurate than the previously utilised Magnetic Susceptibility Inversion method and is double the depth of conventional techniques.

 

Corazon’s managing director Brett Smith said: “Our aim is to utilise this new modelling technique on a number of fronts at Lynn Lake.

“The potential for new discoveries is obvious, however, there are also numerous historically drill defined targets in the mining area that have yet to be properly tested.

“Our focus will be on these near-mine targets with a view towards optimising the potential of the mine area ahead of more detailed mine-planning and feasibility drill-outs for the project”.

READ: Corazon Mining's share purchase plan to be partially underwritten by PAC Securities to $500,000

Shares are up 50% to 0.3 cents.

Corazon is focused on advancing the Lynn Lake project in parallel with its ongoing priority work programs at the Mt Gilmore Copper-Cobalt Project in New South Wales.\

Benefits of MVI

The benefits of MVI processing of existing detailed ground magnetic data are:

Effective mapping of known mineralisation and deposits, and identification of new areas of interest within Lynn Lake’s prolific historical mining centre; High priority nickel-copper-cobalt targets defined adjacent to Lynn Lake’s historical mines; and Methodology also to be applied to numerous regional nickel sulphide targets. “Substantial” level of information

Adoption of MVI follows a review of results from the last phase of drilling at the Fraser Lake Complex exploration play at Lynn Lake which targeted compelling anomalies generated by conventional modelling.

“Put simply the conventional inversion modelling methods didn’t deliver the results anticipated at the Fraser Lake Complex,” Smith said.

“We’re looking within a large, complex, multi-phase magmatic sulphide system with variable magnetic characteristics - too complex for the conventional methods to accommodate.

“With MVI, the level of information and detail is substantial and allows us to interrogate the anomalies better.

“Targets that have previously been ignored because of their overall magnetic characteristics are now being reassessed more favourably.”

Targets interpreted from IP surveys, with resource areas, historical stopes and definition of the Eastern Corridor.

READ: Corazon Mining delivers “exceptional” test results for Lynn Lake nickel and copper concentrates

Corazon recently received results from metallurgical test work on Lynn Lake mineralisation.

Despite Lynn Lake having a long mining history, modern reagents and processing techniques have enabled separate high-value nickel and copper concentrates to be produced for the very first time.

The initial work highlighted:

Nickel concentrate with a grade of 26% nickel with recoveries of 71%; and Copper concentrate with a grade of 27% copper with recoveries of 77%.

These results were not optimised, and it is believed that further refinement of the test work could deliver even greater improvements, particularly in the recoveries.

New round of tests

A new round of test work is in progress incorporating the same float circuit used in the previous testing, however, utilising methodologies more representative of a commercial operation.

This work is expected to optimise the methodology and deliver similar high-grade concentrates, but with increased recoveries.

The metallurgical test work, which is being managed by METS Engineering, is expected to be completed in the next few weeks.

 

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Wed, 05 Jun 2019 10:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221508/corazon-mining-uses-new-technology-to-enhance-lynn-lake-prospectivity-221508.html
<![CDATA[Media files - Corazon Mining identifies new areas of sulphide mineralisation at Mt Gilmore project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13593/corazon-mining-identifies-new-areas-of-sulphide-mineralisation-at-mt-gilmore-project-13593.html Tue, 04 Jun 2019 21:56:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13593/corazon-mining-identifies-new-areas-of-sulphide-mineralisation-at-mt-gilmore-project-13593.html <![CDATA[News - Corazon Mining finds at-surface sulphide mineralisation at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/221334/corazon-mining-finds-at-surface-sulphide-mineralisation-at-mt-gilmore-221334.html Corazon Mining Ltd (ASX:CZN) has discovered fresh sulphide mineralisation at surface in several areas of the Mt Gilmore Copper-Cobalt-Gold Project in New South Wales.

Notably, these newly identified areas of mineralisation are believed to support the potential for a large concealed sulphide system.

Sulphides include chalcopyrite, pyrite and pyrrhotite and have been taken to the lab, results are pending.

The geochemical targets occurs over an 8-kilometre strike and geophysical surveys are planned to support defining priority drill targets.

READ: Corazon Mining's share purchase plan to be partially underwritten by PAC Securities to $500,000

Corazon’s managing Director Brett Smith said: “We are greatly encouraged by the discovery of extensive sulphide mineralisation in fresh rock at Mount Gilmore, which further confirms our exploration model for this metal rich area.

“This style of mineralisation is well documented and prevalent in eastern Australia.

“Regionally, the closest analogy is the major Mount Morgan Copper- Gold-Silver deposit in Queensland, which was a long-life mining camp with metal zonation and relationships similar in nature to what we are seeing at Mt Gilmore.”

Proactive caught up with the company two weeks ago for an update following their recent successful capital raising.

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Mon, 03 Jun 2019 09:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221334/corazon-mining-finds-at-surface-sulphide-mineralisation-at-mt-gilmore-221334.html
<![CDATA[Media files - Corazon Mining gets guarantee on raising with PAC Securities' offer to underwrite SPP ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13418/corazon-mining-gets-guarantee-on-raising-with-pac-securities--offer-to-underwrite-spp-13418.html Mon, 20 May 2019 23:48:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13418/corazon-mining-gets-guarantee-on-raising-with-pac-securities--offer-to-underwrite-spp-13418.html <![CDATA[News - Corazon Mining's share purchase plan to be partially underwritten by PAC Securities to $500,000 ]]> https://www.proactiveinvestors.com.au/companies/news/220555/corazon-mining-s-share-purchase-plan-to-be-partially-underwritten-by-pac-securities-to-500000-220555.html Corazon Mining Ltd (ASX:CZN) has reached agreement with PAC Securities Pty Ltd for PAC to partially underwrite Corazon’s $1-million share purchase plan to $500,000.

The agreement also includes PAC acting as lead manager in the placement of any potential shortfall under the SPP.

 

Capital raised will be used to accelerate exploration at the Mt Gilmore project in NSW, where Corazon has discovered a major new copper-cobalt-silver sulphide region.

Geochemical anomalies at Mt Gilmore point to an extensive hydrothermal event over several kilometres of strike, containing metal associations indicative of large intrusive-related copper-gold systems.

Next steps in the project’s exploration will aim to define drill targets within the large areas of anomalism.

READ: Corazon Mining raising up to $1.35 million for further exploration at Mt Gilmore project

The SPP aims to raise up to $1 million by providing eligible shareholders the opportunity to subscribe for up to $15,000 of shares at a price of 0.3 cents each.

Participants will be issued two free options for every three shares acquired, with the options exercisable at 0.7 cents each and expiring three years from the date of issue.

READ: Corazon Mining delivers “exceptional” test results for Lynn Lake nickel and copper concentrates

Consideration for PAC’s underwriting and lead manager roles will comprise:

6% on the underwritten amount;

5% on any proceeds placed by PAC in the shortfall placement, excluding those by existing shareholders and investors introduced by Corazon, its directors or corporate advisors; and

An administration fee of 1% of total proceeds placed in the shortfall placement.

If a minimum of $600,000 is raised in the SPP, Corazon will also issue PAC 25 million options under the same conditions as the SPP.

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Sun, 19 May 2019 23:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220555/corazon-mining-s-share-purchase-plan-to-be-partially-underwritten-by-pac-securities-to-500000-220555.html
<![CDATA[Media files - Corazon Mining to further delineate multi-element geochemical anomalies at Mt Gilmore Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13292/corazon-mining-to-further-delineate-multi-element-geochemical-anomalies-at-mt-gilmore-project-13292.html Fri, 10 May 2019 01:22:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13292/corazon-mining-to-further-delineate-multi-element-geochemical-anomalies-at-mt-gilmore-project-13292.html <![CDATA[News - Corazon Mining raising up to $1.35 million for further exploration at Mt Gilmore project ]]> https://www.proactiveinvestors.com.au/companies/news/217811/corazon-mining-raising-up-to-135-million-for-further-exploration-at-mt-gilmore-project-217811.html Corazon Mining Ltd (ASX:CZN) has received firm commitments totalling up to $350,000 through a placement of up to 116.7 million fully paid ordinary shares at an issue price of 0.3 cents per share.

Participants will be issued two new options for every three shares subscribed for in the placement, with the company also planning a share purchase plan (SPP) to raise up to a further $1 million on the same terms.

Funds raids from the placement and SPP will be used to accelerate exploration at the Mt Gilmore Copper-Cobalt Sulphide Project in northern New South Wales.

 

Corazon managing director Brett Smith said the recent results from exploration at Mt Gilmore were very encouraging.

“They identify a district scale exploration play for large intrusive-related copper-cobalt-gold deposits and provides the company with a unique early stage copper driven opportunity in eastern Australia.

“We were keen to give our shareholders the opportunity to participate further in this next exciting phase of the project, via the SPP and in conjunction with the funds raised under the placement, the company will be in a position to commence its next phase of exploration at Mt Gilmore immediately.”

READ: Corazon Mining in a trading halt with capital raising news imminent

Under the SPP the Corazon is giving shareholders the opportunity to subscribe for up to $15,000 worth of shares, irrespective of the size of their shareholding.

Additionally, the company intends to increase its interest in the Mt Gilmore project to 80% by issuing $250,000 of shares to the Mt Gilmore vendors and will seek shareholder approval to do so at a general meeting in late May 2019.

Exploration program

Geochemical anomalies at Mt Gilmore were identified from surface sampling conducted in 2018, which included 3,983 soil samples and 230 rock chip samples.

Immediate exploration is aimed at defining drill targets within the large geochemical anomies and will include a strategy that addresses the following:

Ground truthing, geochemical mapping and testing of new priority targets and known copper deposits with the Mt Gilmore trend; and

Completing geophysical programs, including aeromagnetics and ground induced polarisation (IP) that will provide an initial test for near surface and concealed sulphide bodies and alteration zones.

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Wed, 03 Apr 2019 12:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217811/corazon-mining-raising-up-to-135-million-for-further-exploration-at-mt-gilmore-project-217811.html
<![CDATA[News - Corazon Mining in a trading halt with capital raising news imminent ]]> https://www.proactiveinvestors.com.au/companies/news/217588/corazon-mining-in-a-trading-halt-with-capital-raising-news-imminent-217588.html Corazon Mining Ltd (ASX:CZN) has a capital raising announcement pending and has been granted a trading halt by the ASX.

The halt will remain in place until that start of normal trading on Wednesday, April 3, 2019, or when an announcement is released to the market, whichever occurs earliest.

Corazon, which last traded at 0.3 cents, has the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada, and the Mt Gilmore Copper Project in northern New South Wales.

READ: Corazon Mining delivers “exceptional” test results for Lynn Lake nickel and copper concentrates

In February the company described initial metallurgical test work results from the Lynn Lake project as “exceptional”.

Tests on sulphide mineralisation produced separate high-value and high-purity nickel and copper concentrates, far surpassing those delivered by historical processing methods.

Results include:

New nickel concentrate with a grade of 26% nickel with recoveries of 71%; and New copper concentrate with a grade of 27% copper with recoveries of 77%.

These results indicate that Lynn Lake may deliver separate high-value nickel and copper products.

This would provide greater optionality for processing methods and product sale points.

READ: Corazon Mining discovers major copper cobalt silver gold trend at Mt Gilmore

Also, in February, Corazon discovered a major 11-plus kilometre long copper-cobalt-silver-gold trend at Mt Gilmore.

Exploration resulted in the discovery of multiple, large 1-plus kilometre priority targets within the trend, which forms part of the defined 22-kilometre-long, mineralised Mt Gilmore Trend.

The trend represents a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits.

Rock chip and grab sampling within these soil anomalies returned up to 21.6% copper, 1,795ppm cobalt, 1.29 g/t gold, 361ppm silver and 885ppm molybdenum.

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Mon, 01 Apr 2019 14:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217588/corazon-mining-in-a-trading-halt-with-capital-raising-news-imminent-217588.html
<![CDATA[Media files - Corazon Mining advancing Australian and Canadian assets ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12178/corazon-mining-advancing-australian-and-canadian-assets-12178.html Tue, 12 Feb 2019 12:52:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12178/corazon-mining-advancing-australian-and-canadian-assets-12178.html <![CDATA[News - Corazon Mining delivers “exceptional” test results for Lynn Lake nickel and copper concentrates ]]> https://www.proactiveinvestors.com.au/companies/news/214307/corazon-mining-delivers-exceptional-test-results-for-lynn-lake-nickel-and-copper-concentrates-214307.html Corazon Mining Ltd (ASX:CZN) has described initial metallurgical test work results from the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada, as “exceptional”.

The tests on Lynn Lake sulphide mineralisation has produced separate high-value and high-purity nickel and copper concentrates, far surpassing those delivered by historical processing methods.

High-purity concentrates

Results include:

- New nickel concentrate with a grade of 26% nickel with recoveries of 71%; and

- New copper concentrate with a grade of 27% copper with recoveries of 77%.

READ: Corazon Mining boosts Lynn Lake nickel copper cobalt JORC resource

These results indicate that Lynn Lake may deliver separate high-value nickel and copper products.

This would provide greater optionality for processing methods and product sale points.

Further improvement expected

The results have not been fully optimised and the company said it expected that ongoing work would further improve recoveries and grades.

Corazon said the technical breakthrough made in these tests represented an important step in the development pathway for Lynn Lake.

“It supports the production and dispatch of separate copper and nickel concentrates from site to smelters and removes the need for potentially costly secondary processing from a bulk (nickel-copper) concentrate onsite.”

The ongoing test work is focusing on ore characterisation, flotation and product definition for down-stream processing.

This work is designed to provide key data for future mining and development studies for the possible re-commencement of mining at Lynn Lake.

Nickel and cobalt are captured together in the flotation process and separated from the copper sulphides.

The nickel concentrate contains a small amount of copper while the copper concentrate retains a small amount of nickel.

Geology of the Lynn Lake project area.

READ: Corazon Mining discovers major copper cobalt silver gold trend at Mt Gilmore

Corazon’s work aims to determine how much recoveries can be improved while maintaining high concentrate grades.

This work program is being managed by internationally recognised metallurgical consultants, METS Engineering, and is expected to be completed during the current quarter.

Historical production

Lynn Lake is historically one of Canada’s most prolific nickel producing mining centres and was active for more than 24 years before closing in 1976.

The processing technology used to extract nickel, copper and cobalt metals was developed in the 1950s and 1960s, and this is the first detailed test work completed on the mineralisation since the mine closed.

Advances in processing technologies have delivered substantial benefits and efficiencies with respect to metal recoveries and product quality.

This may, in turn, deliver reductions in operating and capital costs associated with any future project development.

Corazon Mining’s managing director Brett Smith will deliver a presentation at the RIU Explorers Conference at Esplanade Hotel, Fremantle, on February 19-21, taking the stage at 5.45pm on day two. To view the program, visit www.riuexplorersconference.com.au

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Mon, 11 Feb 2019 10:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214307/corazon-mining-delivers-exceptional-test-results-for-lynn-lake-nickel-and-copper-concentrates-214307.html
<![CDATA[News - Corazon Mining discovers major copper cobalt silver gold trend at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/213943/corazon-mining-discovers-major-copper-cobalt-silver-gold-trend-at-mt-gilmore-213943.html Corazon Mining Ltd (ASX:CZN) has discovered a major 11+ kilometre long copper-cobalt-silver-gold trend at the Mt Gilmore Project in New South Wales.

Exploration has discovered multiple, large 1+ kilometre priority targets within the trend, which forms part of the defined 22 kilometre-long, mineralised Mt Gilmore Trend.

READ: Corazon Mining to advance knowledge of Mt Gilmore, Cobalt Ridge this quarter

The trend represents a district-scale exploration play for large intrusive-related copper-cobalt-gold deposits.

Importantly, the region has had little or no modern exploration or drill testing within the priority areas defined.

Rock chip and grab sampling within these soil anomalies have returned up to 21.6% copper, 1,795 ppm cobalt, 1.29 g/t gold, 361 ppm silver and 885 ppm molybdenum.

Planning for 2019 exploration underway

Planning of Mt Gilmore’s 2019 exploration program is underway.

Work will include further testing of new priority geochemical targets and known copper deposits within the Mt Gilmore Trend.

It will also include drill testing of prospective areas for extensions to mineralisation defined at the Cobalt Ridge prospect.

Work currently underway is expected to propose geophysical programs that will provide an initial test of priority areas within the new geochemical anomalies of the Mt Gilmore Trend.

This work, along with detail mapping and sampling, is expected to identify targets for an initial phase of drilling, testing prospective areas.

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Tue, 05 Feb 2019 12:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213943/corazon-mining-discovers-major-copper-cobalt-silver-gold-trend-at-mt-gilmore-213943.html
<![CDATA[News - Corazon Mining to advance knowledge of Mt Gilmore, Cobalt Ridge this quarter ]]> https://www.proactiveinvestors.com.au/companies/news/212735/corazon-mining-to-advance-knowledge-of-mt-gilmore-cobalt-ridge-this-quarter-212735.html Corazon Mining Ltd (ASX:CZN) is awaiting final results from soil sampling at its Mt Gilmore Cobalt-Copper-Gold Project in northeast NSW where it also hopes to define a large deposit at the Cobalt Ridge prospect and identify priority targets early in 2019.

The company, which also has the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada, has been finding cobalt with copper at its projects.

WATCH: Corazon Mining advancing Mt Gilmore exploration with news also due on Lynn Lake

Corazon acquired the Mt Gilmore project, northwest of Grafton and southwest of Ballina, in 2016.

The company hopes to define a deposit for its Cobalt Ridge prospect, and produce drill targets similar to the prospect.

A standout intersection at Cobalt Ridge included 5 metres at 2.14% cobalt within a broader intersection of 27 metres at 0.47% cobalt from a down-hole depth of 49 metres.

READ: Corazon Mining defines extensive cobalt-copper anomalies at Mt Gilmore in NSW

Results from a geochemical soil sampling program at the project up to November 2018 indicated cobalt and copper values of up to 450ppm and 1,060ppm, respectively

Rock chip samples have graded up to 1,795ppm cobalt and 16.3% copper.

Corazon has collected 3,533 soil samples and 206 rock chip samples since acquiring Mt Gilmore project, accepting 3,335 returned assays.

 

The company believes growth in the rechargeable battery sector could bode well for the success of the project, which features the attractive battery metals of cobalt and copper.

Assays from Mt Gilmore included multiple higher grade zones in broader cobalt-copper-gold mineralisation.

Corazon managing director Brett Smith spoke to Proactive Investors in the December 2018 quarter about the project, saying “Cobalt Ridge and Mt Gilmore is really stacking up to be a nice little project.”

READ: Corazon Mining receives very high grade cobalt assays from Mt Gilmore

The geologist-MD highlighted the results of a 21-hole RC and diamond drill program in the late November 2018 interview.

Smith told Proactive’s Stocktube video channel: “The results are exceptional.

“We’ve established a few things. We understand the structural controls of the high-grade cobalt sulphide mineralisation — so that’s a first.

“We’ve been able to trace it to depth. Previously there was a theory that the mineralisation pinched out with limited tonnages but that’s not the case, it does continue at depth.

The Mt Gilmore cobalt project is northwest of Grafton in New South Wales, below Queensland.

“We’ve also hit mineralisation where we didn’t expect it, but was coincident with an IP geophysical anomaly.

“We can take that method of geophysics and then apply it regionally … there’s a lot of good things.”

BIG PICTURE: Corazon Mining Ltd shares priority focus with resources investors

The company will be drawing on that information as it generates new targets for the Cobalt Ridge area in an effort expected to be complete early this year.

Smith said: “We’ve only drilled that deposit, the main lode, the one lode, over a 300-metre strike.

“The extension still remains open to the west and to the east, and this parallel zones of mineralisation that’s defined by historical copper mines.

“That’s how they found the cobalt, the old-timers. You can’t see the cobalt mineralisation. They found it by chasing copper.”

READ: Corazon Mining first assay batch from Mt Gilmore cobalt play reveals 2.14% cobalt

The company hopes to define the main Cobalt Ridge lode as a deposit this quarter.

Smith said: “We think we’ve done enough to be able to define a good sense of tonnage and grade for that main load where we have drilled it.

Corazon hopes to define a deposit for Cobalt Ridge at Mt Gilmore project

“That’ll give us some idea of value, which we can attribute to other areas that we’re targeting and ranking, as far as expiration targets and drilling targets.

“A lot of geology is going into (that modelling), and it’s quite detailed.

“We hope that will result in us making some statement of the size, tonnage and grade wise, for that particular part of the deposit.”

Lynn Lake another priority

Defining JORC resources was also on the cards at Corazon’s Lynn Lake project in Canada last year.

The company hopes to redevelop the historical Lynn Lake mining centre where mining was undertaken in the EL Plug and A Plug areas.

Corazon increased total tonnes at the project by more than 60% in October 2018, also increasing nickel and copper metal by 35%.

The resulting new resource was 15.3 million tonnes grading 0.72% nickel, 0.34% copper, 0.034% cobalt for 110,300 tonnes of nickel, 51,400 tonnes of copper and 5,200 tonnes of cobalt.

This resource upgrade came from just five of the deposits at the Lynn Lake project.

A big drill interval with a disseminated 53.1 metres grading 0.4% nickel, 0.18% copper and 0.02% cobalt had been followed during last year’s campaign.

 

 

An area featuring a high-grade zone in a semi-massive area where 0.29 metres graded 2.86% nickel, 0.89% copper and 0.10% cobalt was also targeted.

Eleven other deposits are still to be assessed at Lynn Lake.

READ: Corazon Mining boosts Lynn Lake nickel copper cobalt JORC resource

Lynn Lake's deposits provide the opportunity for mining using large tonnage, low-cost methods.

Historically mined grades at the A Plug were 0.86% nickel and 0.44% copper with the higher-grade EL Plug being mined at 2.50% nickel and 1.15% copper.

The new resource grades reported in October 2018 are consistent with this tenor of mineralisation.

Corazon Mining managing director will deliver a presentation at the upcoming RIUExplorersConference at Esplanade Hotel Fremantle on February 19-21, taking the stage at 5.45pm on day two. To view the program, visit riuexplorersconference.com.au.

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Wed, 16 Jan 2019 20:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212735/corazon-mining-to-advance-knowledge-of-mt-gilmore-cobalt-ridge-this-quarter-212735.html
<![CDATA[Media files - Corazon Mining advancing Mt Gilmore exploration with news also due on Lynn Lake ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11301/corazon-mining-advancing-mt-gilmore-exploration-with-news-also-due-on-lynn-lake-11301.html Fri, 23 Nov 2018 14:14:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11301/corazon-mining-advancing-mt-gilmore-exploration-with-news-also-due-on-lynn-lake-11301.html <![CDATA[News - Corazon Mining defines extensive cobalt-copper anomalies at Mt Gilmore in NSW ]]> https://www.proactiveinvestors.com.au/companies/news/209721/corazon-mining-defines-extensive-cobalt-copper-anomalies-at-mt-gilmore-in-nsw-209721.html Corazon Mining Ltd (ASX:CZN) has discovered multiple high-tenor cobalt-copper-gold anomalies in an ongoing geochemical soil sampling program at its Mt Gilmore Cobalt-Copper-Gold Project in NSW.

Results have indicated cobalt and copper values of up to 450ppm and 1,060ppm, respectively, supported by rock chip samples grading up to 1,795ppm cobalt and 16.3% copper.

The extensive regional program has collected a total of 3,533 soil samples and 206 rock chip samples at Mt Gilmore since Corazon acquired the project in 2016, with 3,335 assays now returned.

Sampling was designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from the drill-defined Cobalt Ridge deposit, Corazon’s priority target at Mt Gilmore.

 

Exploration to date at Mt Gilmore has targeted Cobalt Ridge-style mineralisation which has a distinctive chalcophile element signature including cobalt-copper-gold-antimony metals.

Analysis of the geochemical data has identified an additional style of mineralisation, dubbed Gordonbrook Hill-style mineralisation, characterised by a broader metal association including cobalt-copper-antimony-silver-molybdenum.

Both styles are related to sulphide mineralisation and sulphides have been identified on surface at most of Mt Gilmore’s prospects.

READ: Corazon Mining receives very high-grade cobalt assays from Mt Gilmore

Cobalt Ridge mineralisation occurs at the Cobalt Ridge, Kerry Glen, Hassan’s and Lantana 2 prospects, all of which are priority targets for ongoing exploration and detailed infill soil sampling.

The size of anomalies at these prospects is similar to the Cobalt Ridge deposit and it is interpreted there will be a strong structural control to the mineralisation.

The Gordonbrook Hill-style prospects include the Gordonbrook Hill, Lantana 1, May Queen and Morgan’s anomalies.

These areas are generally larger anomalies than the Cobalt Ridge-style targets, with anomalism associated with disseminated sulphides and magnetite.

Corazon expects more sampling will identify multiple individual targets of both styles of mineralisation within the larger anomalous areas.

  READ: Corazon Mining shares priority focus with resources investors

Corazon’s activities at Mt Gilmore are focused on three main strategies: assessment of the resource potential of the Cobalt Ridge main lode; definition of priority drilling targets near the Cobalt Ridge deposit; and definition and ranking of geochemical anomalies in the wider project area.

Modelling of drill results, soil sampling and infill of priority soil anomalies is ongoing, with the aim of defining higher grade mineralised trends for targeted exploration and possibly drilling.

Final results from soil sampling work and identification of priority areas is expected to be complete in early 2019.

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Wed, 21 Nov 2018 22:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209721/corazon-mining-defines-extensive-cobalt-copper-anomalies-at-mt-gilmore-in-nsw-209721.html
<![CDATA[News - Corazon Mining receives very high-grade cobalt assays from Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/208880/corazon-mining-receives-very-high-grade-cobalt-assays-from-mt-gilmore-208880.html Corazon Mining Ltd (ASX:CZN) has received assay results from drilling at its Mt Gilmore Cobalt-Copper-Gold Sulphide Project in New South Wales.

The majority of the assays have been received from the 21-hole, 2,233-metre reverse circulation (RC) and 734-metre diamond drill program.

Highlights from the program include very high-grade intersections of up to 5 metres at 2.14% cobalt.

READ: Corazon Mining boosts Lynn Lake nickel copper cobalt JORC resource

Corazon’s managing director Brett Smith said: “This drilling has returned exceptional results and has enabled us to gain a much higher-level geological understanding of the deposit.

“Our ongoing work should enable us to more accurately express the potential of the Cobalt Ridge Deposit, which is our core aim, and we expect to be able to announce more about this in the coming weeks.”

Drilling grows geological understanding and adds priority target areas

Drilling focused on the Cobalt Ridge Main Lode, which is one of numerous known sulphide lodes at Cobalt Ridge.

The program as identified dominant trends for the cobalt-copper-gold sulphides, as well as structures that may control the location of the mineralisation.

Results provide Corazon with a very good understanding of the controls on the mineralisation - knowledge that is being used to identify additional drilling targets.

 

Modelling of results underway, regional soil survey continues

The modelling of the drilling results is underway.

While the drilling to date has not exhaustively tested the Cobalt Ridge Main Lode, it is expected Corazon will be able to accurately express the tonnage potential of the Cobalt Ridge area.

Furthermore, the regional geochemical soil sampling of the Mt Gilmore Trend remains in progress.

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Fri, 09 Nov 2018 08:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208880/corazon-mining-receives-very-high-grade-cobalt-assays-from-mt-gilmore-208880.html
<![CDATA[Media files - Corazon Mining 'bullish on battery metals,' advancing Australian and Canadian projects ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10844/corazon-mining-bullish-on-battery-metals-advancing-australian-and-canadian-projects-10844.html Mon, 15 Oct 2018 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/10844/corazon-mining-bullish-on-battery-metals-advancing-australian-and-canadian-projects-10844.html <![CDATA[News - Corazon Mining boosts Lynn Lake nickel copper cobalt JORC resource ]]> https://www.proactiveinvestors.com.au/companies/news/206836/corazon-mining-boosts-lynn-lake-nickel-copper-cobalt-jorc-resource-206836.html Corazon Mining Ltd (ASX:CZN) has made a substantial upgrade to the JORC resource at its Lynn Lake Nickel Copper Cobalt Project in Canada.

The new resource is 15.3 million tonnes grading 0.72% nickel, 0.34% copper, 0.034% cobalt for 110,300 tonnes of nickel, 51,400 tonnes of copper and 5,200 tonnes of cobalt.

The new resource estimate represents more than a 60% increase in total tonnes and a 35% increase in nickel and copper metal.

Notably, cobalt has been included in Lynn Lake resource estimate for the first time, adding significant value.

Upgrade from 5 deposits, 11 other deposits to be assessed

This resource upgrade comes from only five deposits at the Lynn Lake Project with 11 other deposits yet to be assessed.

This provides significant further resource upgrade potential at Lynn Lake.

Corazon’s managing director Brett Smith said: “This resource represents a huge improvement in quality from the previous work and, along with the first modern metallurgical test work which is currently underway, will give us a very clear indication of Lynn Lake’s value and what is needed for the redevelopment of the Mining Centre.”

READ: Corazon Mining Ltd shares priority focus with resources investors

The upgraded resource also includes a high-grade section of 5.2 million tonnes at 1.00% nickel, 0.41% copper and 0.044% cobalt.

Resource update lays foundations for studies

Lynn Lake’s updated resource provides an excellent foundation upon which to base mining and development studies.

These studies are expected to be undertaken subsequent to detailed metallurgical test work, which is currently in progress and scheduled for completion by the end of this year.

The Lynn Lake deposits provide the opportunity for mining using large tonnage, low-cost methods.

The historically mined grades at the A Plug were 0.86% nickel and 0.44% copper with the higher-grade EL Plug being mined at 2.50% nickel and 1.15% copper.

The new resource grades are consistent with this tenor of mineralisation

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Thu, 11 Oct 2018 10:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206836/corazon-mining-boosts-lynn-lake-nickel-copper-cobalt-jorc-resource-206836.html
<![CDATA[News - Corazon Mining Ltd shares priority focus with resources investors ]]> https://www.proactiveinvestors.com.au/companies/news/205698/corazon-mining-ltd-shares-priority-focus-with-resources-investors-205698.html Corazon Mining Ltd (ASX:CZN) has highlighted the exploration potential of its Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada while fronting resource industry investors in Sydney.

The Western Australian company is currently finalising a resource estimate for the project, due by the end of the month.

READ: RIU Resources Investor Roadshow hits Sydney and Melbourne this week

Corazon managing director Brett Smith gave a presentation yesterday at the RIU Resources Investor Roadshow in New South Wales, also highlighting the “easy development opportunity” of the project which is located near infrastructure and large remnant resources.

The geologist-MD will continue with the roadshow to Grand Hyatt Hotel Melbourne tomorrow, where he’ll deliver another address at 9.45am.

Last week the company revealed contractor ALS Metallurgy in Perth had begun metallurgical test work on 500 kilograms of mineralised material from Lynn Lake.

Smith affirmed yesterday the lab work was the first comprehensive processing test work to be conducted in 50 years and was expected to highlight beneficial and modern processing options.

The company views the project as having “huge potential for discovery”.

ALS is expected to take 3-4 months to go through the material.

READ: Corazon Mining first assay batch from Mt Gilmore cobalt play reveals 2.14% cobalt

Recent drilling has highlighted a large-sized magmatic nickel-copper-cobalt sulphide system 5 kilometres from Lynn Lake’s historic mine area.

The new Fraser Lake Complex area had conceptual targets defined in 2016 and nickel-copper-cobalt sulphides discovered last year during drilling and geophysics work.

Targets were defined this year for future work, with the biggest drill interval to date being a disseminated 53.1 metres grading 0.4% nickel, 0.18% copper and 0.02% cobalt.

Best high-grade zone was seen in a semi-massive area where 0.29m graded 2.86% nickel, 0.89% copper and 0.10% cobalt.

The Mt Gilmore cobalt project is northwest of Grafton in New South Wales, below Queensland.

Historical results at Lynn Lake

The historically-prolific nickel-producing mining centre Lynn Lake closed in 1976 after 24 years operation.

Corazon has added 6,000 historic drill holes to its database as it seeks to update its resource statement this quarter.

Mining studies are expected to following processing studies which are currently underway.

Discoveries at the main mining centre have included 23.75 metres at 3.34% nickel, 1.54% copper and 0.079% cobalt from 731.25 metres in the EL Lower Zone in 2011 drilling.

Disco Deposit drilling in 2018 included 18 metres at 1.5% nickel, 0.70% copper and 0.040% cobalt from 96 metres.

Tango Deposit featured 17 metres at 0.6% nickel and 0.3% cobalt in 2010.

Mt Gilmore project drill target Cobalt Ridge has graded up to 2.14% cobalt.

Mt Gilmore dangles cobalt carrot

Smith, who is a director of three other publicly-listed companies, also spoke yesterday about the company’s Mt Gilmore Cobalt-Copper-Gold Project in New South Wales.

The company yesterday highlighted the project positioned Corazon to “benefit from growth in the rechargeable battery sector”.

Corazon has intersected significant mineralisation of the battery metals favourite cobalt in three holes.

Assays from the project included multiple higher grade zones in a broader cobalt-copper-gold mineralisation.

Among the prospects at the earn-in project are drill target Cobalt Ridge, where a highlight intersection included 5 metres at 2.14% cobalt within a broader intersection of 27 metres at 0.47% cobalt from a down-hole depth of 49 metres.

The company highlighted the prospect’s point of difference yesterday, saying the cobalt-dominant sulphide deposit needed only “simple, flexible inexpensive processing solutions”.

Smith previously reported: “Cobalt Ridge is an intensely altered, structurally complex system and every drill hole helps us gain a greater understanding of this deposit.”

READ: Corazon Mining drills new cobalt, copper and gold targets at Mt Gilmore

The company views the project as metallurgically easy and the potential of its large hydrothermal system as “untapped”.

Little modern exploration has been undertaken at the project whose main lode was drilled over a 300-metre strike which had an average true width of 12 metres and was open in every direction.

Corazon can earn into a stake of up to 80% in the pure cobalt sulphide play.

The company hopes to establish Mt Gilmore as a “premier cobalt project” while demand for the strategic metal booms and rechargeable batteries become flavour of the month.

It tipped yesterday there is a “good likelihood for the discovery of additional cobalt-copper-gold sulphide deposits” at Mt Gilmore and highlighted it was located on a regionally significant corridor of cobalt anomalism.

Cobalt can be a drawcard for listed companies.

Quality projects in value-accretive programs

Smith said yesterday Corazon had “two exceptional projects with demonstrated prospectivity in key, demand-driven commodities”.

The company believes both are capable of hosting large, economically viable mineral deposits.

He reported: “Current market sentiment for cobalt, nickel and copper supports Corazon’s immediate focus on cobalt, whilst preparing Lynn Lake for possible nickel price increases in 2019 and beyond.”

Among the value-accretive programs Smith highlighted for the two projects were: the development focus at Lynn Lake, with the current resource estimate and test work activities and the upcoming scoping study; and the geophysics and soil-sampling efforts at Mt Gilmore.

Corazon said Mt Gilmore and the project’s pure-cobalt-play prospect Cobalt Ridge were its “priority focuses” and drilling at the ridge would help the company progress towards producing a resource estimation for its efforts.

To view the program for Thursday’s resources event, visit the RIU Resources Investor Roadshow website. Organiser Vertical Events offers free delegate passes to stockbrokers, fund managers and investors not employed in the resources sector. To register for the Melbourne event, click here.

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Tue, 25 Sep 2018 21:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205698/corazon-mining-ltd-shares-priority-focus-with-resources-investors-205698.html
<![CDATA[News - Corazon Mining Ltd independent lab starts analysis of Canadian Lynn Lake material ]]> https://www.proactiveinvestors.com.au/companies/news/205079/corazon-mining-ltd-independent-lab-starts-analysis-of-canadian-lynn-lake-material-205079.html Corazon Mining Ltd (ASX:CZN) contractor ALS Metallurgy in Perth has begun metallurgical test work on 500 kilograms of mineralised material from the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.

ALS’ test work of Corazon’s material will be conducted over the next 3-4 months, as the explorer wraps up a new resource estimate by the end of this month then factors the data into other studies.

READ: Corazon Mining first assay batch reveals 2.14% cobalt

The company views the test work as “an important step in Corazon’s development pathway for Lynn Lake” which closed in 1976 after 24 years of operation.

Corazon reported: “The test work will focus on ore characterisation, flotation and product definition for down-stream processing, and is designed to provide key data for future mining and development studies for the possible re-commencement of mining at Lynn Lake.”

READ: Corazon Mining drills new cobalt, copper and gold targets at Mt Gilmore​

Resource estimations for the project in the historically-prolific nickel-producing mining centre are due by the end of the September quarter.

The upgraded resources and redefined processing parameters are expected to be used in future Lynn Lake studies.

Earlier this year, Corazon saw disseminated sulphide mineralisation during diamond drilling at the project.

This drilling at Lynn Lake took in three holes at the Fraser Lake Complex which intersected widespread sulphide mineralisation.

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Tue, 18 Sep 2018 00:17:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205079/corazon-mining-ltd-independent-lab-starts-analysis-of-canadian-lynn-lake-material-205079.html
<![CDATA[News - Corazon Mining first assay batch reveals 2.14% cobalt ]]> https://www.proactiveinvestors.com.au/companies/news/203602/corazon-mining-first-assay-batch-reveals-214-cobalt-203602.html Corazon Mining Ltd (ASX:CZN) has received its first batch of assays from its ongoing drilling program at the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales.

Three holes intersected significant cobalt mineralisation, including multiple higher grade zones within broader packages of cobalt-copper-gold mineralisation.

Highlights include 5 metres at 2.14% cobalt within a broader intersection of 27 metres at 0.47% cobalt from a down-hole depth of 49 metres.

READ: Corazon Mining drills new cobalt, copper and gold targets at Mt Gilmore

Corazon’s managing director Brett Smith said: “We are very pleased with these results. Cobalt Ridge is an intensely altered, structurally complex system and every drill hole helps us gain a greater understanding of this deposit.

“It’s a hole by hole process, however the results continue to validate and strengthen the Company’s belief that Cobalt Ridge has the potential to host a significant sulphide-dominant cobalt deposit, the understanding of which can then be applied to the greater Mt Gilmore Project area.”

More assays expected

The ongoing proposed program includes 14 holes for 2000+ metres of reverse circulation (RC) and core drilling at the Cobalt Ridge prospect within Mt Gilmore.

So far 12 holes have been completed for 1,363 metres of RC and 398.8 metres of core drilling and the program may be extended subject to results.

Drilling is expected to be completed in the current quarter, with results to be released as they become available.

Hole MGRC042 appears to have identified the faulted-off western extension of the Main Lode and is highly representative of the main target at Cobalt ridge.

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Mon, 27 Aug 2018 09:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203602/corazon-mining-first-assay-batch-reveals-214-cobalt-203602.html
<![CDATA[News - Corazon Mining drills new cobalt, copper and gold targets at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/200522/corazon-mining-drills-new-cobalt-copper-and-gold-targets-at-mt-gilmore-200522.html Corazon Mining Ltd (ASX:CZN) is drilling at the Mt Gilmore Cobalt-Copper-Gold Project in northern New South Wales with the initial focus on priority targets at Cobalt Ridge deposit.

This phase will comprise 14 reverse circulation and core holes for 2,000 metres and is expected to be completed this quarter.

As well as the priority targets within and around Cobalt Ridge, the drilling will also target features generated by a recent 3D induced polarisation (IP) geophysical survey.

READ: Corazon Mining discovers new cobalt copper gold targets, drilling this month

Corazon also aims to include new, priority targets within the wider project area generated by ongoing regional soil sampling.

This work is being done on a 200x200 metre pattern with about 3,000 samples to be collected over a strike of more than 18 kilometres along the trend hosting Cobalt Ridge.

A regional geological interpretation map showing the Mt Gilmore trend.

The sampling is designed to systematically test favourable basement lithologies for cobalt, copper and gold mineralisation along strike from Cobalt Ridge.

Soil sampling proves successful

Corazon’s soil sampling has been successful to date as it has resulted in the discovery of six high-tenor cobalt-copper-gold anomalies within 10 kilometres of strike around Cobalt Ridge.

It has also identified three high tenor anomalies at the Lantana Downs prospect, a further 2 kilometres to the north.

Potential for more discoveries

The company believes these anomalies provide the potential for the discovery of multiple Cobalt Ridge ‘lookalike’ deposits.

If exploration proves fruitful, these would expand Mt Gilmore’s cobalt-copper-gold sulphide endowment.

The anomalies will be further defined via infill sampling on a 50x50 metre pattern, before being ranked and prioritised for drilling.

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Wed, 11 Jul 2018 09:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200522/corazon-mining-drills-new-cobalt-copper-and-gold-targets-at-mt-gilmore-200522.html
<![CDATA[News - Corazon Mining discovers new cobalt copper gold targets, drilling this month ]]> https://www.proactiveinvestors.com.au/companies/news/200078/corazon-mining-discovers-new-cobalt-copper-gold-targets-drilling-this-month-200078.html Corazon Mining Ltd (ASX:CZN) has discovered four new, large cobalt-copper-gold soil anomalies within the  Mt Gilmore project in New South Wales.

The company expects to commence its next phase of reverse circulation (RC) drilling in early July with an initial 14-hole, 2000-metre program focused on the Cobalt Ridge deposit.

Notably, the four new targets are immediately along strike from Cobalt Ridge.

READ: Corazon Mining continues to make steady progress at Mt Gilmore Project

Current exploration is focused on identifying new cobalt-copper-gold sulphide targets within the wider Mt Gilmore Project area, as well as defining extensions to the priority Cobalt Ridge deposit.

The four new targets result in a total of six areas requiring further testing within a contiguous 10-kilometre strike around the Cobalt Ridge.

Drilling to also test priority targets

Corazon will now conduct infill soil sampling to a 50x50 metre pattern to further define and refine potential drill targets.

Drilling will also provide a first-pass test of priority features generated by the recently completed 3D induced polarisation (IP) geophysical survey.

Mt Gilmore’s 18-kilometre trend

Corazon has defined the prospective 18 kilometre Mt Gilmore trend within the project area which includes more than 25 historical workings including significant shafts, adits and drives.

These workings include high-grade copper and gold mineralisation confirmed by rock chips grading up to 26.8% copper and 9.2 g/t gold in addition to the cobalt mineralisation.

A geochemical soil-sampling program of 3,000 samples along the 18-kilometre trend is underway with 1,375 samples collected to date.

Results from the soil sampling will be incorporated into the drill program as necessary.

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Wed, 04 Jul 2018 10:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200078/corazon-mining-discovers-new-cobalt-copper-gold-targets-drilling-this-month-200078.html
<![CDATA[News - Corazon Mining continues to make steady progress at Mt Gilmore Project ]]> https://www.proactiveinvestors.com.au/companies/news/198060/corazon-mining-continues-to-make-steady-progress-at-mt-gilmore-project-198060.html Corazon Mining Ltd (ASX:CZN) is continuing to deliver exciting results from exploration underway at the Mt Gilmore Cobalt-Copper-Gold Sulphide Project in New South Wales.

The current phase of exploration comprises systematic geophysical and surface geochemistry programs looking to test extensive areas of the project as quickly as possible.

Priority objectives include identifying extensions to the cobalt-copper-gold sulphide mineralisation at Cobalt Ridge, as well as defining new targets within the greater Mt Gilmore Project area.

The wider Mt Gilmore Project area hosts multiple historical copper-gold workings exhibiting mineralisation similar to that at Cobalt Ridge that have yet to be tested for cobalt.

These areas provide the discovery potential for multiple Cobalt Ridge ‘lookalike’ deposits, which would significantly expand Mt Gilmore’s cobalt-copper-gold sulphide endowment.

READ: Corazon Mining discovers four new cobalt-copper-gold anomalies

Recent results have identified a new high-tenor gold (+cobalt) anomaly at Nettle Creek, two kilometres south of Cobalt Ridge.

The main gold anomaly is about 700 metres by 500 metres in area and open, peaking at 690 ppb gold.

This discovery exemplifies Cobalt Ridge’s blue-sky potential for cobalt-copper-gold sulphide deposits within the Mt Gilmore Project.

Final data from Cobalt Ridge survey received

Corazon has also completed a detailed 3D induced polarisation geophysical survey at the project’s main prospect, Cobalt Ridge.

Several primary anomalies have already been delineated, with further processing/3D inversion efforts currently in progress and expected to be completed in early June.

Corazon’s current phase of work is focused on identifying drill targets for testing in mid-2018, including:
• Resource definition at Cobalt Ridge; and
• New areas of cobalt mineralisation.

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Fri, 01 Jun 2018 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198060/corazon-mining-continues-to-make-steady-progress-at-mt-gilmore-project-198060.html
<![CDATA[Media files - Corazon Mining advances core projects against backdrop of strong commodity prices ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9174/corazon-mining-advances-core-projects-against-backdrop-of-strong-commodity-prices-9174.html Tue, 01 May 2018 17:51:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9174/corazon-mining-advances-core-projects-against-backdrop-of-strong-commodity-prices-9174.html <![CDATA[News - Corazon Mining discovers four new cobalt-copper-gold anomalies ]]> https://www.proactiveinvestors.com.au/companies/news/193498/corazon-mining-discovers-four-new-cobalt-copper-gold-anomalies-193498.html Corazon Mining Ltd (ASX:CZN) has identified four new cobalt-copper-gold anomalies through soil sampling at its Cobalt Ridge prospect within the Mt Gilmore Project, New South Wales.

Significantly, the new geochemical anomalies extend the known cobalt-mineralised system at Cobalt Ridge.

The area now measures three kilometres in strike and one kilometre in width,  and is open in all directions.

Builds case for project to host cobalt dominant sulphide deposits

The findings strengthen Corazon’s exploration model for the Mt Gilmore Project to host significant cobalt dominant sulphide deposits.

The Cobalt Ridge prospect is focused on a small area of outcrop where past exploration and small-scale mining identified cobalt dominant cobalt-copper-gold sulphide mineralisation.

Assays peaked at 133 ppm cobalt and 1,360 ppm copper

Peak assay results from the 310 samples submitted included 133 ppm cobalt, 1360 ppm copper and 1500 ppb gold.

By comparison, past results for the outcropping Cobalt Ridge areas peaked at 271 ppm cobalt, 4320 ppm copper and 900 ppb gold.

Furthermore, Mt Gilmore has produced rock chips grading up to 26.8% copper and 9.2 g/t gold in addition to the cobalt mineralisation.

Exploration ongoing to define drill targets

Exploration at the project is ongoing and includes additional sampling, mapping and geophysics, which will be used to define specific targets for the next phase of drilling.

Corazon recently observed disseminated sulphide mineralisation in recent diamond drilling completed at its Lynn Lake Project in Canada.

READ: Corazon Mining intersects widespread sulphide mineralisation at Lynn Lake

The program consisted of five holes for 1,415 metres and assays remain pending.

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Wed, 21 Mar 2018 09:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193498/corazon-mining-discovers-four-new-cobalt-copper-gold-anomalies-193498.html
<![CDATA[News - Corazon Mining intersects widespread sulphide mineralisation at Lynn Lake ]]> https://www.proactiveinvestors.com.au/companies/news/193022/corazon-mining-intersects-widespread-sulphide-mineralisation-at-lynn-lake-193022.html Corazon Mining Ltd (ASX:CZN) has observed disseminated sulphide mineralisation in recent diamond drilling completed at its Lynn Lake Project in Canada.

Preliminary visual observations indicate the project has good potential to host significant nickel-copper-cobalt sulphide deposits.

The program consisted of five holes for 1,415 metres and samples have now been sent to labs for assaying.

READ: Corazon Mining commences drilling targeting nickel-copper-cobalt

Notably, three holes completed at the Fraser Lake Complex (FLC) intersected widespread sulphide mineralisation.

FLC is a large mineralised system within the project located five kilometres from the Lynn Lake nickel-copper-cobalt mining centre.

The other two holes in the five-hole program were drilled closer to the mining centre.

Visual observations indicate successful drilling campaign

Visual observation of the drill core indicates the disseminated mineralisation is consistent with the outcomes of prior successful drilling at Lynn Lake.

The sulphide mineralisation was widespread and intersected from surface and throughout all holes within the FLC.

These initial results from this phase of drilling are consistent with mineralisation intersected in the 2017 drilling program.

Still searching for the high-grade feeder zones

Importantly, the feeder zone for the FLC mineralisation has not yet been identified.

The feeder zone is thought to contain high-grade economic mineralisation and would be the likely starting point for a future mine.

Exploration at multiple projects ongoing

Corazon has active exploration programs underway at both Lynn Lake and its Mt Gilmore Cobalt-Copper-Gold Project in New South Wales.

Details of upcoming fieldwork at both projects are expected.

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Tue, 13 Mar 2018 09:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193022/corazon-mining-intersects-widespread-sulphide-mineralisation-at-lynn-lake-193022.html
<![CDATA[News - Corazon Mining commences drilling targeting nickel-copper-cobalt ]]> https://www.proactiveinvestors.com.au/companies/news/191740/corazon-mining-commences-drilling-targeting-nickel-copper-cobalt-191740.html Corazon Mining Ltd (ASX:CZN) has commenced drilling at the Fraser Lake Complex within the Lynn Lake Project in Canada.

A minimum of 1,500 metres of core drilling is to be undertaken targeting nickel-copper-cobalt mineralisation.

The Fraser Lake Complex is five kilometres south of its 100% owned Lynn Lake Nickel-Copper-Cobalt Mining Centre.

READ: Corazon Mining gets ready to drill for nickel-copper-cobalt in Canada

At least two holes will test the previously identified  large geophysical anomalies.

Drilling is scheduled to be completed mid- March and results will be released as they become available.

First hole going as planned

The initial drill target is a deep-rooted, funnel-shaped, strongly magnetic anomaly.

It has similar characteristics to the nearby high-grade nickel-copper-cobalt sulphide deposit within the major historic Lynn Lake Mining Centre.

Drilling commenced on Wednesday and 90 metres have been drilled in the first hole, expected to be over 600 metres in length.

Sulphide mineralisation has been intersected from surface in the first hole, consistent with mineralisation intersected in the 2017 drilling program.

This is encouraging insofar as it supports the geophysical models being used to target drilling.

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Fri, 16 Feb 2018 09:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191740/corazon-mining-commences-drilling-targeting-nickel-copper-cobalt-191740.html
<![CDATA[News - Corazon Mining gets ready to drill for nickel-copper-cobalt in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/190958/corazon-mining-gets-ready-to-drill-for-nickel-copper-cobalt-in-canada-190958.html Corazon Mining Ltd (ASX:CZN) is commencing the next phase of drilling at its Fraser Lake Complex in Canada this month.

The Fraser Lake Complex is located just five kilometres south of Corazon’s 100% owned Lynn Lake Nickel-Copper-Cobalt Mining Centre.

The company’s preparation for drilling is nearing completion and is expected to begin the week commencing Monday, 12 February.

Access tracks and drill pads have been completed in preparation for drilling, and the drill rig is on site with personnel currently being mobilised.

Potential to host significant nickel-copper-cobalt sulphide deposits

Corazon has systematically explored the Fraser Lake Complex since December 2016 with activities including drilling, ground geophysics, downhole geophysics and geochemistry.

The data from these programs support the company’s view that the area has the potential to host significant nickel-copper-cobalt sulphide deposits.

New priority drill targets have been confirmed from Corazon’s 2017 fieldwork programs and will be drilled in this phase of drilling.

READ: Corazon Mining secures $3.4 million for cobalt and nickel assets

The company has also successfully completed a $3.4 million share placement, with settlement having occurred and placement shares allocated.

The funds will be used for Corazon’s next phase of exploration at its two flagship projects, the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales and the Fraser Lake Complex within the Lynn Lake Nickel-Copper-Cobalt Project in Canada.

Exploration at Mt Gilmore will target sulphide mineralisation at the Cobalt Ridge prospect.

The objective is to plan a drill program that leads to a maiden JORC resource estimate.

READ: Corazon Mining's Cobalt Ridge drill results prompt management to identify extensions ]]>
Thu, 01 Feb 2018 14:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190958/corazon-mining-gets-ready-to-drill-for-nickel-copper-cobalt-in-canada-190958.html
<![CDATA[News - Corazon Mining secures $3.4 million for cobalt and nickel assets ]]> https://www.proactiveinvestors.com.au/companies/news/190502/corazon-mining-secures-34-million-for-cobalt-and-nickel-assets-190502.html Corazon Mining Ltd (ASX:CZN) has received commitments from sophisticated and institutional investors to raise $3.4 million in funding through a share placement.

The oversubscribed placement was supported by the company’s major shareholder, Hanking Australia Investments Pty Ltd, who holds 11.54% of the company.

Placement shares will be issued at a price of $0.015 over two tranches.

Funding to advance cobalt and nickel assets

Funds raised will be used to progress both the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales and the Lynn Lake Nickel-Copper-Cobalt Project in Canada.

Exploration at Mt Gilmore will target sulphide mineralisation at the Cobalt Ridge prospect.

The objective is to plan a drill program that leads to a maiden JORC resource estimate.

READ: Corazon Mining's Cobalt Ridge drill results prompt management to identify extensions

Drilling is also planned at new priority targets at Lynn Lake as well as work to complete a scoping study at the project.

A significant upgrade at Lynn Lake is planned including resource definition drilling and conversion of the current JORC 2004 resource to JORC 2012 standards.

Two exploration programs currently underway

At the Cobalt Ridge prospect within the Mt Gilmore project surface soil sampling geochemistry is underway.

Corazon is also preparing to conduct aerial and ground geophysical surveys at Cobalt Ridge.

This work will assist in defining new targets for the next phase of drilling planned for the June quarter.

At Lynn Lake, a drill rig is on site and drilling is expected to commence in the first two weeks of February.

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Wed, 24 Jan 2018 11:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190502/corazon-mining-secures-34-million-for-cobalt-and-nickel-assets-190502.html
<![CDATA[News - Corazon Mining calls for halt pending update on capital raise ]]> https://www.proactiveinvestors.com.au/companies/news/190337/corazon-mining-calls-for-halt-pending-update-on-capital-raise-190337.html Corazon Mining Ltd (ASX:CZN) is preparing to outline details in relation to its capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Wednesday 24th January 2018, or earlier if an announcement is made to the market.

Corazon recently received final assay results from its 18-hole 3.2 kilometre drilling program at Cobalt Ridge, which included an intersection of 5 metres at 0.53% cobalt, 0.16% copper and 0.08 g/t gold.

READ: Corazon Mining's Cobalt Ridge drill results prompt management to identify extensions

The Cobalt Ridge prospect is located within the Mt Gilmore cobalt-copper-gold project in New South Wales. Corazon’s primary target is the main cobalt lode which is up to 25 metres in true width.

The company owns a 51% interest in the Mt Gilmore project with an exclusive right to earn up to an 80% interest, and with its prospectivity improving the company may well exercise this option.

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Mon, 22 Jan 2018 10:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190337/corazon-mining-calls-for-halt-pending-update-on-capital-raise-190337.html
<![CDATA[News - Corazon Mining's Cobalt Ridge drill results prompt management to identify extensions ]]> https://www.proactiveinvestors.com.au/companies/news/190131/corazon-mining-s-cobalt-ridge-drill-results-prompt-management-to-identify-extensions-190131.html Corazon Mining Ltd’s (ASX:CZN) final assay results from its 18-hole 3.2 kilometre drilling program at Cobalt Ridge include an intersection of 5 metres at 0.53% cobalt, 0.16% copper and 0.08 g/t gold.

This was identified at a depth of 224 metres within a broader zone of 42 metres at 0.11% cobalt.

These results follow on from high-grade assays received in December

READ: Corazon Mining identifies promising cobalt mineralisation at Mt Gilmore project

The Cobalt Ridge prospect is located within the Mt Gilmore cobalt-copper-gold project located in New South Wales, and Corazon’s primary target is the main cobalt lode which is up to 25 metres in true width.

Main cobalt lode mineralisation provides potential exploration opportunities

Drilling indicates that the main cobalt load mineralisation is open in all directions, providing scope to define extensions as well as additional parallel lodes.

The next phase of work will include geophysical and geochemical surveys to test for potential extensions to the project area.

Exploration results are another catalyst for Corazon to increase its stake to 80%

Corazon owns a 51% interest in the Mt Gilmore project with an exclusive right to earn up to an 80% interest, and with its prospectivity improving the company may well exercise this option.

Over 25 historical copper, gold, cobalt and iron workings have been in progress over many years with copper and gold mineralisation rock chip samples featuring grades of up to 26.8% copper and 9.2 g/t gold.

Consequently, Cobalt Ridge may have untapped potential, and further exploration in 2018 should see the company gain a better understanding of this area.

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Wed, 17 Jan 2018 09:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190131/corazon-mining-s-cobalt-ridge-drill-results-prompt-management-to-identify-extensions-190131.html
<![CDATA[News - Corazon Mining identifies promising cobalt mineralisation at Mt Gilmore Project ]]> https://www.proactiveinvestors.com.au/companies/news/188613/Corazon-Mining-identifies-promising-cobalt-mineralisation-at-Mt-Gilmore-Project-188613.html Corazon Mining Ltd (ASX:CZN) has released additional high grade assay results from its recently completed drilling program at the Cobalt Ridge deposit within the Mt Gilmore Project in New South Wales.

Drilling has highlighted multiple cobalt, copper and gold mineralised trends in what is interpreted by the company as a long-lived multiphase alteration and mineralising event.

Results from a further four holes have been returned with another two holes pending receipt.

Assays identify strong cobalt mineralisation

In total, the completed drilling program included 18 holes over a distance of circa 3200 metres.

The best result from the latest assays which tested geologically complex areas within the Cobalt Ridge Main Lode included 2 metres grading 1.37% cobalt, 1.02% copper and 0.36 g/t gold.

High-grade, narrow zones of cobalt mineralisation are a common feature within the broad anomalous areas outcropping at Cobalt Ridge.

The best individual sample from these recent results was one metre at 2.5% cobalt.

READ: Corazon results show project’s cobalt potential

The testwork indicates the potential for easy beneficial separation and capture of more than 90% of the cobalt, copper and gold, very early in the processing route.

Value lies in lower grade background mineralisation

In addition to the high-grade results, the value of the lower-grade background mineralisation at Cobalt Ridge has been highlighted by the latest metallurgical testwork.

Corazon owns a 51% interest in the project, with an exclusive right to earn up to an 80%.

The prospective 18 kilometre Mt Gilmore trend has been identified within the project area which has more than 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation including rock chips grading up to grades 26.8% copper and 9.2 g/t gold.

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Tue, 12 Dec 2017 09:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188613/Corazon-Mining-identifies-promising-cobalt-mineralisation-at-Mt-Gilmore-Project-188613.html
<![CDATA[News - Corazon Mining test results show project’s cobalt potential ]]> https://www.proactiveinvestors.com.au/companies/news/188320/corazon-mining-test-results-show-projects-cobalt-potential-188320.html Corazon Mining Ltd (ASX:CZN) has received positive metallurgical test results from its Mount Gilmore Cobalt-Copper-Gold Project in New South Wales.

Flotation tests on drill core samples from the Cobalt Ridge deposit recovered 93.6% cobalt and 98.4% copper.

Results from the phase II tests support the viability of simple processing options at the project.

They also support the successful phase I results earlier this year.

The Mt Gilmore project is 35 kilometres from Grafton in the state’s northeast.

One of the highest-grade cobalt deposits in Australia

Cobalt Ridge hosts one of the highest-grade cobalt deposits in Australia and as a pure cobalt play, represents a strong development opportunity.

The phase II tests have targeted lower grade material than that tested in the previous phase.

The sulphide mineralisation tested included what is considered to be the background grade for the main lode within the deposit.

Simple beneficiation process

The similar nature of the sulphide minerals has provided the opportunity for a simple beneficiation process and production of a bulk concentrate.

This is supported by the association with gold.

Ongoing tests will focus on defining down-stream concentrate processing options and detailed process engineering studies.

READ: Corazon Mining’s drilling continues to extend cobalt zone at Mt Gilmore

There has been very little modern exploration of the large Cobalt Ridge hydrothermal system.

Corazon is addressing this through drilling, which is supplying test samples, supporting resource definition work and testing new areas near Cobalt Ridge.

These include extensions to the Cobalt Ridge Main Lode and the historical workings at the Flintoff and Glamorgan prospects.

READ: Corazon Mining confirms high-grade cobalt potential with assays

Cobalt prices are being driven higher by expectations of increased demand from the rechargeable battery sector.

A deficit in global cobalt supply is looming and securing sources of ethically mined cobalt is a growing concern for battery makers.

Potential to provide quality cobalt product

Corazon believes Cobalt Ridge has the potential to provide a quality cobalt product for the emerging rechargeable lithium ion battery sector.

A subsidiary of China Hanking Holding (HKG:3788) agrees, and has invested in Corazon.

Next steps at Cobalt Ridge

Corazon is continuing drilling and also plans process engineering design work this month.

The company intends to undertake a scoping study during the first quarter of 2018.

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Wed, 06 Dec 2017 12:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188320/corazon-mining-test-results-show-projects-cobalt-potential-188320.html
<![CDATA[News - Corazon Mining’s drilling continues to extend cobalt zone at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/186977/corazon-minings-drilling-continues-to-extend-cobalt-zone-at-mt-gilmore-186977.html Corazon Mining Ltd (ASX:CZN) has received new assays further extending the cobalt-copper-gold mineralisation at the Cobalt Ridge Deposit within the Mt Gilmore Project in New South Wales.

The results include 2 metres at 0.64% cobalt and 01.66% copper from 86 metres and 1 metre at 2.47% cobalt, 0.49% copper and 0.49% gold from 54 metres.

Significantly, the drilling has intersected multiple previously untested sulphide lodes, in addition to the Cobalt Ridge Main Lode and the Flintoff’s Prospect.

Results to date continue to expand the defined mineralised area within Mt Gilmore and validate the Cobalt Ridge exploration model as a potentially high-grade cobalt development asset.

Mt Gilmore Project

The Mt Gilmore Project is located 35 kilometres from Grafton in north-eastern New South Wales.

Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the project.

The Cobalt Ridge deposit has the potential to provide a quality cobalt product for the emerging rechargeable lithium ion battery sector.

Drilling continues with more results awaited

The current phase of drilling commenced in August and is testing priority targets at Cobalt Ridge plus extensions to the Cobalt Ridge Main Lode and step-out drilling to test new priority targets.

To date, Corazon has completed 15 reverse circulation holes of the 21-hole program for circa 3,300 metres.

The company has received the assays for 12 holes which continues to deliver highly encouraging results, with 10 holes intersecting significant mineralisation.

Results are currently pending for an additional three completed holes which targeted the high- grade Cobalt Ridge Main Lode.

These results are expected in the near future, and drilling remains ongoing.

New high priority targets identified

Corazon recently completed rock-chip sampling and soil sampling programs designed to identify new priority drill targets within the Mt Gilmore Project area.

The rock-chip sampling undertaken on previously undetected outcropping sulphide mineralisation 200 metres south of the Cobalt Ridge trend has delivered significant gold results.

This includes 5.40 g/t gold, 0.09% cobalt and 0.41% copper.

Corazon had a cash balance of $2.33 million as at 30 September 2017.

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Thu, 09 Nov 2017 11:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186977/corazon-minings-drilling-continues-to-extend-cobalt-zone-at-mt-gilmore-186977.html
<![CDATA[News - Corazon Mining confirms high-grade cobalt potential with assays ]]> https://www.proactiveinvestors.com.au/companies/news/185156/corazon-mining-confirms-high-grade-cobalt-potential-with-assays-185156.html Corazon Mining (ASX:CZN) has received results from its current phase of drilling at the Cobalt Ridge Deposit within the Mt Gilmore Project located in New South Wales.

Assays have been received for two reverse circulation (RC) holes and one RC pre-collar from the nine holes completed to date.

Initial assay results have further validated the exploration model for Cobalt Ridge and its potential as a high-grade cobalt development opportunity.

Results include 14 metres at 0.27% cobalt and feature grades of up to 2.47% cobalt.

Drilling will continue for the next few weeks with further assays expected.

Drill results details

Drilling at Cobalt Ridge commenced on 22 August 2017, with the proposed program comprising 21 holes for circa 3,300 metres to test priority targets at Cobalt Ridge.

Assays are from two RC holes drilled at the Main Lode and the pre-collar RC hole at the Flintoff prospect.

Main Lode results include:

- 16 metres at 0.65% cobalt, 0.26% copper, 0.17ppm gold from 135 metres including 6 metres at 1.48% cobalt, 0.14% copper, 0.32ppm gold;
- 34 metres at 0.23% cobalt, 0.26% copper, 0.08ppm gold from 42 metres including 4 metres at 0.48% cobalt, 0.27% copper, 0.15ppm gold and 5 metres at 0.71% cobalt, 0.88% copper and 0.27ppm gold.

Flintoff pre-collar results include:

- 2 metres at 0.64% cobalt, 1.66% copper and 0.13 ppm gold from 86 metres.

Drill program goals

The current drilling program at Cobalt Ridge has three primary goals:

1. Secure sample for detailed metallurgical testwork and process engineering studies;
2. Resource definition drilling of the Cobalt Ridge Main Lode high-grade shoot; and
3. Step-out drilling testing new areas (defined by historical workings such as Flintoff’s and Glamorgan’s; and surface geochemistry), as well as the extensions to the Cobalt Ridge Main Lode.

READ: Corazon Mining is drilling one of Australia’s highest-grade sulphide cobalt deposits

Mt Gilmore Project

The Mt Gilmore Project is located 35 kilometres from the major centre of Grafton in north-eastern New South Wales.

Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the project.

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Fri, 06 Oct 2017 10:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185156/corazon-mining-confirms-high-grade-cobalt-potential-with-assays-185156.html
<![CDATA[News - Corazon Mining’s drilling intersects sulphides at the Cobalt Ridge Deposit ]]> https://www.proactiveinvestors.com.au/companies/news/184259/corazon-minings-drilling-intersects-sulphides-at-the-cobalt-ridge-deposit-184259.html Corazon Mining Ltd (ASX:CZN) is continuing to progress its drilling activities at the Cobalt Ridge Deposit within the Mt Gilmore Project in New South Wales.

The Cobalt Ridge Prospect is considered one of the highest grade cobalt deposits in Australia.

Corazon’s initial drilling of the previously untested “Flintoff’s Lode”, 200 metres north of the Cobalt Ridge Main Lode, has intersected sulphide mineralisation with follow-up drilling currently underway.

A core hole has intersected circa 30 metres (down-hole width) of the main cobalt-copper rich lode. This has been sent for metallurgical testwork

The drilling at Cobalt Ridge commenced on 22 August 2017 and is planned to include 21 holes for circa 3,300 metres. To date, six holes have been completed.

The company’s drilling program is expected to continue for several weeks, with the first assay results expected within the next two weeks.

Corazon currently has a 51% stake in Mt Gilmore, and is earning up to 80% through a $2 million earn-in over three years.

The Cobalt Ridge deposit has the potential to provide a quality cobalt product for the emerging rechargeable lithium ion battery sector.

Importantly, the prospective 18 kilometre Mt Gilmore trend contains over 25 historic copper, gold, cobalt and iron workings.

The project includes significant shafts, adits and drives with high-grade copper and gold mineralisation (rock chips up to 26.8% copper and 9.2 g/t gold).

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Wed, 20 Sep 2017 13:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184259/corazon-minings-drilling-intersects-sulphides-at-the-cobalt-ridge-deposit-184259.html
<![CDATA[News - Corazon Mining is drilling one of Australia’s highest-grade sulphide cobalt deposits ]]> https://www.proactiveinvestors.com.au/companies/news/183122/corazon-mining-is-drilling-one-of-australias-highest-grade-sulphide-cobalt-deposits-183122.html Corazon Mining Ltd (ASX:CZN) currently has the drill spinning at the Cobalt Ridge prospect within the Mt Gilmore Project in New South Wales, which is one of Australia’s highest-grade sulphide cobalt deposits.

First assays are expected in late September to early October.

Mt Gilmore is a large hydrothermal alteration system with extensive occurrences of mineralisation, and very little modern exploration.

The main cobalt lodes best high grade zone is: 6 metres at 1.48% cobalt (+14% CuEq), with the best individual 1 metre assay: 2.79% cobalt.

Corazon believes the Cobalt Ridge deposit has the potential to provide a quality cobalt product for the emerging rechargeable Lithium Ion Battery sector.

A subsidiary of China Hanking Holding (HKG:3788) agrees, and has invested in Corazon.

READ NOW: Corazon attracts premium investment from China Hanking

Corazon currently has a 51% stake in Mt Gilmore, and is earning up to 80% through a $2 million earn-in over three years.

Drilling program details

The program at Cobalt Ridge will include step-out and infill at the Main Cobalt Lode for resource definition, while testing new trends including Flintoff’s, Glamorgan West and others.

Additional metallurgical samples will be taken, which will add to promising testwork from reverse circulation drill chips where recoveries from simple flotation included: cobalt 92.2%, copper 89.0% and gold 75.5%.

This means that the processing route is likely to use simple, inexpensive, and tried and tested methods.

Next steps

- Detailed metallurgical testwork to commence in September 2017;
- Process engineering design work in December 2017; and
- Scoping Study proposed for Q1 2018 (dependent on results).

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Wed, 30 Aug 2017 09:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183122/corazon-mining-is-drilling-one-of-australias-highest-grade-sulphide-cobalt-deposits-183122.html
<![CDATA[News - Corazon Mining attracts premium investment from Australian arm of China Hanking Holding ]]> https://www.proactiveinvestors.com.au/companies/news/182640/corazon-mining-attracts-premium-investment-from-australian-arm-of-china-hanking-holding-182640.html Corazon Mining Ltd (ASX:CZN) has boosted its cash reserves by undertaking a placement to raise circa $1.8 million at $0.014, which is a 16.7% premium to the last closing price.

The placement includes a strategic investment of $1.68 million by Hanking Australia Investments Pty Ltd, a specialist resources investment vehicle.

Hanking will now hold an 11.55% stake in Corazon.

The new funds will be allocated to accelerate exploration at the high-grade Cobalt Ridge prospect in New South Wales, which is part of the Mt Gilmore Project.

Cobalt Ridge is an advanced, drill defined, high-grade, cobalt dominant sulphide deposit.

Corazon’s work will include drilling and detailed metallurgical test work with a focus on producing battery-grade cobalt for use in the emerging rechargeable battery sector.

A drill rig is already on-site preparing to commence.

Details of the deal

Hanking will become a substantial shareholder of Corazon and its nominee, managing director Dr Mark Yumin Qiu, will join the Corazon board.

Hanking is the Australian investment arm of China Hanking Holding (HKG:3788).

The deal provides committed support for Corazon allowing for the advancement of projects, and also for the potential of future funding and off-take opportunities.

Hanking rationale for Corazon investment

Hanking considers that the new energy market is growing rapidly and that cobalt and nickel are critical components for high-quality and high-energy density batteries.

China currently imports over 90% of the cobalt concentrates for its cobalt refinery industry.

Importantly, it considers Corazon’s high-grade cobalt sulfide project as potentially beneficial.

While Hanking already owns one of the world’s largest laterite nickel resources in Indonesia, the investment in Corazon marks a strategic step in securing scarce high-grade cobalt resources in the ever-growing energy storage focused world.

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Fri, 18 Aug 2017 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182640/corazon-mining-attracts-premium-investment-from-australian-arm-of-china-hanking-holding-182640.html
<![CDATA[News - Corazon Mining to lift cash for one of Australia's highest grade cobalt deposits ]]> https://www.proactiveinvestors.com.au/companies/news/182561/corazon-mining-to-lift-cash-for-one-of-australia-s-highest-grade-cobalt-deposits-182561.html Corazon Mining Ltd (ASX:CZN) has a dual exploration focus, which includes the Mount Gilmore Project located in New South Wales, which hosts one of the highest grade cobalt deposits in Australia.

The project has a large hydrothermal alteration system, with extensive occurrences of mineralisation and very little modern exploration.

Corazon also has 100% control of the Lynn Lake Project in Canada where the focus in nickel-copper-cobalt.

The company is now heading to market to lift its cash position, with the ASX granting a trading halt to prepare.

The halt will remain in place until the opening of trade on Monday 21st August 2017, or earlier if an announcement is made to the market.

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Thu, 17 Aug 2017 09:41:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182561/corazon-mining-to-lift-cash-for-one-of-australia-s-highest-grade-cobalt-deposits-182561.html
<![CDATA[News - Corazon Mining to begin test work on cobalt deposit ]]> https://www.proactiveinvestors.com.au/companies/news/180656/corazon-mining-to-begin-test-work-on-cobalt-deposit-180656.html Corazon Mining Ltd (ASX:CZN) is set to begin detailed metallurgical test work on the Cobalt Ridge deposit within the Mount Gilmore Project located in New South Wales.

Cobalt Ridge hosts one of the highest-grade cobalt deposits in Australia.

The first phase metallurgical test work completed in March this year delivered highly positive results including simple flotation processes recovering 92.2% cobalt.

Brett Smith, managing director, commented: “It’s important for us at an early stage to fully appreciate the flexibility we have with respect to processing, plant design and product specification.

“While our desire is to produce cobalt for the rechargeable battery sector - which would be an end-point product - there maybe numerous opportunities along that processing path where benefits exist and other cobalt products can be delivered for sale.”


Mount Gilmore Project

The Mt Gilmore Project is located 35 kilometres from the major centre of Grafton in north-eastern New South Wales.

Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the project.

The prospective 18 kilometre Mt Gilmore trend includes over 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation.

Rock chip grades have assayed up to 26.8% copper and 9.2 g/t gold.

Five large-scale copper-gold targets that have been defined to date.

Corazon completed its maiden drill program at Mt Gilmore in December 2016, testing the continuity, position and extent of the cobalt-copper-gold mineralisation within the Cobalt Ridge prospect area.

The drilling validated historical mining and exploration results and confirmed the presence of multiple zones of sulphide mineralisation over a strike length of at least 300 metres.

The mineralisation remains open along strike and at depth.


Metallurgy program

Corazon has engaged industry-leading independent consultancy METS Engineering to complete detailed metallurgical test work on the Cobalt Ridge deposit.

The test work will investigate the methods required to produce a high-grade metal concentrate, suitable for outright sale or as a feedstock for downstream processing.

Proposed downstream processing studies will determine methods suitable for the production of quality cobalt salts for use in the rechargeable battery industry, or a high-quality metal for sale into the more traditional cobalt markets.

The metallurgical studies are expected to be completed over three months and will be followed by engineering and processing studies.

Initial simple flotation studies have yielded a recovery of 92.2% for cobalt, 89% for copper and 75.5% for gold, in a total concentrate with 11.1% mass recovery.


Analysis

The unique cobalt-copper-gold mineralisation at Cobalt Ridge has the potential to deliver a variety of saleable products.

Corazon believes this rare cobalt-dominant sulphide deposit has the potential to supply a quality cobalt product, suitable for use in lithium-ion batteries and the emerging rechargeable battery sector.

News flow from the project is set to continue with the drilling approval process underway set for commencement of drilling in August.

Core samples for metallurgical testing from the drilling are expected to be delivered to the laboratory in early September.

These new studies will also help determine the optimal size of the resource required at Cobalt Ridge.

One of the key positives of Mt Gilmore is that very little modern exploration has been undertaken.

Aside from small-scale historical copper-gold and iron mines, previous exploration has predominantly been restricted to general prospecting, mapping, rock-chip sampling, with drilling completed at only one of the targets.

With cobalt prices trading near US$60,000 per tonne, this is a fortuitous time for Corazon to be developing a new cobalt resource.

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Tue, 11 Jul 2017 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180656/corazon-mining-to-begin-test-work-on-cobalt-deposit-180656.html
<![CDATA[News - Corazon Mining identifies new zones of cobalt at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/179005/corazon-mining-identifies-new-zones-of-cobalt-at-mt-gilmore-179005.html Corazon Mining (ASX:CZN) has identified new zones of cobalt mineralisation at the Cobalt Ridge prospect within the Mt Gilmore cobalt-copper-gold project in New South Wales.

The mineralisation was identified in results from a recently completed soil sampling program, which defined extensions to one of the highest grade cobalt deposits in Australia.

Furthermore, several new zones of cobalt and copper mineralisation were also identified.

These results will be used to define additional drilling targets proposed for the upcoming September quarter.

Corazon is currently actively exploring two projects, the Lynn Lake nickel-copper-cobalt project in the Manitoba Province of Canada and the Mt Gilmore cobalt-copper-gold in New South Wales.


Mt Gilmore

The Mt Gilmore Project is located 35 kilometres from the major centre of Grafton in north-eastern
New South Wales.

Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the project.

The prospective 18 kilometre Mt Gilmore trend includes over 25 historic copper, gold, cobalt and iron workings, including significant shafts, adits and drives with high-grade copper and gold mineralisation.

Rock chip grades have assayed up to 26.8% copper and 9.2 g/t gold.

Five large scale copper-gold targets that have been defined to date.

Corazon completed its maiden drill program at Mt Gilmore in December 2016, testing the continuity, position and extent of the cobalt-copper-gold mineralisation within the Cobalt Ridge prospect area.

The drilling validated historical mining and exploration results and confirmed the presence of multiple zones of sulphide mineralisation over a strike length of at least 300 metres.

The mineralisation remains open along strike and at depth.


Soil sampling details

The completed soil-sampling program extended coverage at Cobalt Ridge to an area of 2x1 kilometres.

In total, 390 samples were taken on a grid spacing of 50x 50 metres close to the main target area and 100x100 metres in peripheral areas.

Results have validated historical geochemistry and confirmed the presence of multiple zones of cobalt and copper mineralisation over a significant area.

Surface geochemistry suggests the cobalt mineralisation is much more extensive than that defined by previous exploration and mining, which was focused solely on the copper mineralisation.

Furthermore, there is a growing understanding that at Mt Gilmore the copper mineralisation is a separate event to the cobalt mineralisation.


Next steps

Metallurgical test work on Cobalt Ridge percussion drill chips has almost been completed.

Cobalt Ridge is a sulphide deposit and early indications are that the preferred processing options will be simple industry standard flotation utilising relatively inexpensive off-the-shelf technology.

Current studies will define additional test work required for the design criteria of a full-scale operation to be included in future scoping and feasibility studies.

3D modelling of drilling completed at Cobalt Ridge is being reviewed in response to the results of the soil geochemistry.

This work will result in the planning and permitting of drilling proposed for the September quarter, 2017.


Analysis

Cobalt Ridge hosts one of the highest-grade cobalt deposits in Australia.

It is a rare cobalt dominant sulphide deposit and Corazon believes the project has the potential to supply a quality cobalt product, suitable for use in lithium-ion batteries and the emerging rechargeable battery sector.

One of the key positives of Mt Gilmore is that very little modern exploration has been undertaken.

Aside from small-scale historic copper- gold and iron mines, previous exploration has predominantly been restricted to general prospecting, mapping, rock-chip sampling, with drilling completed at only one of the targets.

With cobalt prices trading at over US$56,000 per tonne, this is a fortuitous time for Corazon to be developing a new cobalt resource.

Shares are trading up 18% intra-day, currently priced at $0.019.

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Fri, 09 Jun 2017 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179005/corazon-mining-identifies-new-zones-of-cobalt-at-mt-gilmore-179005.html
<![CDATA[News - Corazon Mining drills mineralisation in all holes at Lake Lynn ]]> https://www.proactiveinvestors.com.au/companies/news/178873/corazon-mining-drills-mineralisation-in-all-holes-at-lake-lynn-178873.html Corazon Mining (ASX:CZN) has completed its Phase 3 drilling program targeting nickel-copper sulphides at its Fraser Lake Complex within the Lynn Lake Project in Canada.

The Fraser Lake Complex (FLC) is an intrusive mafic body with characteristics that suggest it is prospective for hosting Lynn Lake style magmatic nickel copper-cobalt deposits.

Drilling comprised 4 diamond holes for 1,857.25 metres targeting a large geophysical anomaly and intersected extensive magmatic iron-nickel-copper sulphide mineralisation.

Significantly, all holes were mineralised over their entire lengths.

Downhole electromagnetic geophysics is underway to test for conductive massive sulphide bodies proximal to the areas drilled to identify further drill targets.

Phase 3 assay results are expected in July.


Background

Corazon is currently actively exploring two projects, the Lynn Lake nickel-copper-cobalt project in the Manitoba Province of Canada and the Mt Gilmore cobalt-copper-gold in New South Wales.

Lynn Lake is a historic mining centre comprising a township and two historically producing nickel mines, which shutdown in 1976.

This represents both a redevelopment opportunity and good potential for new discoveries given the historical focus was mining and not exploration.

The FLC is located 5 kilometres from the Lynn Lake Mining Centre, which collectively refers to the township and two historical mines.

The FLC is a stand-out opportunity for the discovery of a new deposit.

At the Mt Gilmore project, recent drilling results have validated Corazon’s assessment of the Cobalt Ridge prospect as a unique, high-grade, cobalt-dominant deposit.


Phase 3 drilling details

Three phases of drilling have been completed on the FLC this year, for a total of 13 holes for 5,363.75 metres.

Drilling phases 1 and 2 targeted the northeastern extensions of a target feeder zone known as the Matrix Trend.

Phase 3 drilling was completed closer to the origin or neck of the feeder zone.

The overall sulphide content intersected in the Phase 3 drilling is significantly greater than previously identified.

The intensity of the mineralisation is increasing closer to the interpreted source of the feeder zone.

All holes in the Phase 3 program were extensively mineralised for their entire lengths.

The intensity of the iron-nickel-copper magmatic sulphide mineralisation intersected varied from weakly disseminated to strongly disseminated, matrix to semi-massive and massive styles.

Nickel and copper-bearing sulphides were observed throughout the drill core.


Analysis

Preliminary results from the Phase 3 drilling are positive with all holes being mineralised, which bodes well for pending assay results.

Corazon’s discovery of nickel-copper sulphides at the FLC through earlier drilling validates its potential to host significant nickel-copper sulphide deposits.

There are a number of factors that make this drilling program a significant potential catalyst for Corazon’s market value.

Drilling of the Matrix Trend is thought to be closer to the source of the mineralised feeder zone and testing IP anomalies significantly higher than previously drilled anomalies.

Furthermore, the anomalies drilled were interpreted to be closer to the surface than those previously drilled.

Corazon believes the previous drilling has been misdirected and hasn’t focused on the main targets, which this drill program targeted.

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Wed, 07 Jun 2017 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178873/corazon-mining-drills-mineralisation-in-all-holes-at-lake-lynn-178873.html
<![CDATA[News - Corazon Mining gears up to drill nickel-copper sulphide discovery in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/177471/corazon-mining-gears-up-to-drill-nickel-copper-sulphide-discovery-in-canada-177471.html Corazon Mining (ASX:CZN) is scheduled to begin the next phase of work this week targeting nickel-copper sulphides at its Fraser Lake Complex within the Lynn Lake Project in Canada.

The Fraser Lake Complex (FLC) is an intrusive mafic body with characteristics that suggest it is prospective for hosting Lynn Lake style magmatic nickel copper-cobalt deposits.

Recent drilling has focussed on a chargeable induced polarisation anomaly within the FLC, labelled the Matrix Trend.

Recent assay results indicate that within the FLC a sulphide content of between 35% and 50% can be expected to return grades of about 1% nickel, 0.6% copper and 0.07% cobalt.

There is little doubt that the induced polarisation (IP) anomaly that defines the Matrix Trend is caused by extensive magmatic nickel-copper-cobalt mineralisation.


FLC: Similar to Lynn Lake, but twice as big

Corazon has completed two phases of core drilling within the FLC since the start of 2017, each targeting high chargeability IP anomalies.

This drilling intersected extensive magmatic nickel- copper sulphide mineralisation and there is little doubt the IP anomalies are caused by sulphide mineralisation.

The newly recognised feeder-zone into the FLC is a priority drill target known as the Matrix Trend.

The Matrix Trend is more than 1.7 kilometres in strike, of which only 400 metres has been tested with six holes to date.


Next phase of drilling at FLC

Work permits for the drilling of new priority targets have been granted and drilling is scheduled to begin this week.

The new targets are located between 300 and 800 metres southwest of the company’s completed 2017 drilling and required the new permits, which are now granted.

All holes drilled to date within the Matrix Trend reported significant sulphide mineralisation in an area Corazon now believes is peripheral to the main targets.

The new target area is within the feeder zone and closer to the FLC’s interpreted deep mantle source. The program is anticipated to take 4-6 weeks to complete.


Background

Corazon is currently actively exploring two projects, the Lynn Lake nickel-copper-cobalt project in the Manitoba Province of Canada and the Mt Gilmore cobalt-copper-gold in New South Wales.

Lynn Lake is a historic mining centre comprising a township and two historically producing nickel mines, which shutdown in 1976.

This represents both a redevelopment opportunity and good potential for new discoveries given the historical focus was mining and not exploration.

The FLC is located 5 kilometres from the Lynn Lake Mining Centre, which collectively refers to the township and two historical mines.

The FLC is a stand-out opportunity for the discovery of a new deposit.

At the Mt Gilmore project, recent drilling results have validated Corazon’s assessment of the Cobalt Ridge prospect as a unique, high-grade, cobalt-dominant deposit.


Analysis

Corazon’s discovery of nickel-copper sulphides at the FLC through recent drilling validates its potential to host significant nickel-copper sulphide deposits.

The FLC targets are now known to be fertile for nickel-copper sulphides and are similar to Lake Lynn but circa twice the size.

There are a number of factors that make this current drilling program a significant potential catalyst for Corazon’s market value.

The current drilling of the Matrix Trend is thought to be closer to the source of the mineralised feeder zone and testing IP anomalies significantly higher than previously drilled anomalies.

Furthermore, the new IP anomalies to be drilled are interpreted to be closer to the surface than those previously drilled.

Corazon believes the previous drilling has been misdirected and hasn’t focused on the main targets, which this current drill program is targeting.

The company is fully funded to pursue the next phase of exploration having recently had to close a $3 million share purchase plan early due to it being heavily oversubscribed.

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Tue, 09 May 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177471/corazon-mining-gears-up-to-drill-nickel-copper-sulphide-discovery-in-canada-177471.html
<![CDATA[News - Corazon Mining identifies high-grade cobalt zones at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/171632/corazon-mining-identifies-high-grade-cobalt-zones-at-mt-gilmore-171632.html The Cobalt Ridge prospect is located within the Mt Gilmore Cobalt-Copper-Gold Project in northeast New South Wales.

Corazon’s drilling has validated historical mining and exploration results and has confirmed the presence of multiple zones of sulphide mineralisation over a strike length of at least 300 metres.

The main cobalt lode mineralisation is typically about 16 metres in down-hole width (8 metres true width), with intersections up to 37 metres down-hole.

Average cobalt grades for these intervals within the drilling completed by Corazon are between 0.23% and 0.65% cobalt.

Multiple higher-grade zones of up to 1.48% cobalt exist, at between one and seven metres down hole widths. Best individual one metre assay from this drilling is 2.79% cobalt.

Corazon is planning to undertake geochemistry and geophysics to generate targets for the next phase of drilling.

Cobalt is a metal of growing strategic importance due to its requirement for use in lithium-ion batteries and the emerging rechargeable battery sector.

At current cobalt metal prices of around US$33,000 per tonne (cobalt prices increased circa 46% in 2016), the grades intersected at Cobalt Ridge represent a potentially valuable opportunity.

Corazon owns a 51% interest in Mt Gilmore and has an exclusive right to earn up to an 80% interest in the project.

The company’s flagship project is the Lynn Lake Nickel-Copper-Cobalt Project in the Canadian province of Manitoba.

Corazon’s recent acquisition of the Mt Gilmore Project (in June 2016) has provided the company with a dual focus and opportunity.

The company’s share price has increased by 150% during the past six months, last trading at $0.02.

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Mon, 16 Jan 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171632/corazon-mining-identifies-high-grade-cobalt-zones-at-mt-gilmore-171632.html
<![CDATA[News - Corazon Mining to explore nickel riches in Lynn Lake, Canada ]]> https://www.proactiveinvestors.com.au/companies/news/171362/corazon-mining-to-explore-nickel-riches-in-lynn-lake-canada-171362.html The company plans to undertake about 1,500 metres of core drilling over high priority geophysical anomalies within the FLC.

The project is located only five kilometres south of the Lynn Lake Mining Centre.

Corazon has completed drill site preparation, with drilling scheduled to begin by the middle of January. The program is expected to take one month to complete.

The drilling will initially test four priority targets, generated from Corazon’s induced polarisation geophysics and surface geochemistry programs conducted in 2016.

This data will be used in conjunction with historical exploration data stretching back to the 1940’s.

Corazon has identified multiple compelling drill targets within the FLC, indicative of the style of mineralisation previously mined at Lynn Lake.

Despite mine closure in 1976, Lynn Lake remains Canada’s fourth largest nickel producing district - 22.2 million tonnes at 1% nickel were mined between 1953 and 1976.

The Lynn Lake deposits are favourable for large-scale, low-cost mining methods and in places have been exploited down to depths of more than one kilometre.

Corazon has estimated an indicated and inferred resource of 9.4 million tonnes at 0.88% nickel and 0.40% copper for the Lynn Lake Project in 2015 (83,000 tonnes of contained nickel and 37,800 tonnes of contained copper).

Nickel prices were hovering near year-long highs last month. Closing the year on a positive note can be attributed to a tightening supply chain for the metal.

Corazon’s shares were last trading at $0.018, up 5.9% intra-day.

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Tue, 10 Jan 2017 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171362/corazon-mining-to-explore-nickel-riches-in-lynn-lake-canada-171362.html
<![CDATA[News - Corazon Mining reveals high-grade cobalt potential at Mt Gilmore ]]> https://www.proactiveinvestors.com.au/companies/news/170449/corazon-mining-reveals-high-grade-cobalt-potential-at-mt-gilmore-170449.html In total, 15 reverse circulation drill holes were completed at Cobalt Ridge and three holes at the Iron Mountain target, for 2086 metres.

The results include:
- 16 metres at 0.65% cobalt from 135 metres, including 6 metres at 1.48% cobalt; 
- 37 metres at 0.14% cobalt from surface, including 2 metres at 0.36% cobalt and 1.37% copper.

The drilling has validated Corazon’s assessment of Cobalt Ridge as a unique, high-grade cobalt-dominant deposit with a potential to deliver discrete high-grade zones of cobalt.

The main cobalt lode has been drilled over a strike of about 200 metres, to a depth of 140 metres below surface.

The mineralisation is open to the west, where it is coincident with soil geochemical anomalism and small-scale historical workings targeting copper mineralisation.

The demand for cobalt is growing due to its requirement for use in lithium-ion batteries and the emerging rechargeable battery sector.

At the current cobalt metal price of around US$30,000 per tonne, the grades intersected at Cobalt Ridge represent a potentially valuable opportunity.

The metallurgical performance test work on the reverse circulation drill chips is currently underway, with results expected in Q1, 2017.

An additional three holes have been extended with core drilling to intersect the main zone. Assay results for this work is expected in early 2017.

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Wed, 14 Dec 2016 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170449/corazon-mining-reveals-high-grade-cobalt-potential-at-mt-gilmore-170449.html
<![CDATA[News - Corazon Mining Ltd shares jump, to reveal drilling results ]]> https://www.proactiveinvestors.com.au/companies/news/169307/corazon-mining-ltd-shares-jump-to-reveal-drilling-results-169307.html Corazon had prior to the halt, traded circa 22 million shares.

Recently the company completed an 18 hole reverse circulation drilling program at Cobalt Ridge within the Mt Gilmore Cobalt-Copper-Gold Project in north-eastern New South Wales.

The halt will remain in place until the opening of trade on Thursday 24th November 2016, or earlier if an announcement is made to the market.

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Tue, 22 Nov 2016 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169307/corazon-mining-ltd-shares-jump-to-reveal-drilling-results-169307.html
<![CDATA[News - Corazon Mining to lift cash position ]]> https://www.proactiveinvestors.com.au/companies/news/167601/corazon-mining-to-lift-cash-position-167601.html The company is pending details of a capital raising.

The halt will remain in place until the opening of trade on Friday 21st October 2016, or earlier if an announcement is made to the market.

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Wed, 19 Oct 2016 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167601/corazon-mining-to-lift-cash-position-167601.html
<![CDATA[News - Corazon Mining Ltd finds early copper promise at NSW cobalt-copper-gold project ]]> https://www.proactiveinvestors.com.au/companies/news/134696/corazon-mining-ltd-finds-early-copper-promise-at-nsw-cobalt-copper-gold-project-69333.html Corazon Mining Ltd's (ASX:CZN) newly acquired cobalt-copper-gold project is located north-west of Grafton in New South Wales in a mining province that is home to 35 million ounces of gold.

The Mount Gilmore project looks to be bearing fruit just a week after the company reported plans to acquire the project with rock chip samples collected during due diligence returning 16.30% and 13.55% copper over a 12 kilometre strike.

Apart from the large gold assemblage, the project that is located in the New England Orogen is also prospective to host large copper-gold systems. The region is home to the Mount Morgan copper-gold mine boasting 50 million tonnes grading 5.9 g/t gold and 0.7% copper.

Corazon has secured the right to earn up to 80% of the Mt Gilmore project from a private company and is currently completing due diligence which is expected to finish around 30 June 2016.

The project package also includes a more than useful cobalt potential where previous drill results were above 1% cobalt with copper and gold credits.

While individual 1 metre drill results were a tidy 3.38% cobalt, 3.18% copper and 4.92 g/t gold.

With the rechargeable battery market as a driver of cobalt demand, the high grade cobalt at the project could very well be the jewel in the crown. Cobalt is the preferred cathode element in lithium ion batteries.

A prospective 18 kilometres trend has been identified within the project which includes more than 25 historic copper, gold, cobalt and iron workings.

Corazon also has the entire Lynn Lake nickel district in its armoury, one of Canada’s most prolific historic nickel producing areas, with existing resources and a promising exploration upside.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 21 Jun 2016 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/134696/corazon-mining-ltd-finds-early-copper-promise-at-nsw-cobalt-copper-gold-project-69333.html
<![CDATA[News - Corazon Mining Ltd makes cobalt-copper-gold acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/134695/corazon-mining-ltd-makes-cobalt-copper-gold-acquisition-69197.html Corazon Mining Ltd (ASX:CZN) is preparing to outline details of a cobalt-copper-gold project acquisition, and subsequent capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will last until the opening of trade on Thursday 16th June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 14 Jun 2016 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/134695/corazon-mining-ltd-makes-cobalt-copper-gold-acquisition-69197.html