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Corazon coffers brim with cash for Top Up Rise copper-gold drilling

Last updated: 10:40 28 Feb 2013 AEDT, First published: 09:40 28 Feb 2013 AEDT

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Corazon (ASX:CZN) is cashed up having raised $3 million and is fully funded to test the large iron oxides coppper gold target at its Top Up Rise project in Western Australia.

The funds were raised via placement that brought in $1.5 million; a share purchase plan for a take up of $600,000 and placement of SPP shortfall for $900,000.

The work program at the Top Up Rise is likely to commence in March via detailed ground geophysics, with drilling planned for April/May 2013.

With over $3.5 million cash, investments and receivables available for exploration, Corazon has the capacity to also advance its Canadian project, which include the prospective development at the Lynn Lake nickel-copper sulphide project, and exploration potential at the Beaucage Lake Gold project.

At the latter, high grade gold mineralisation has been identified in outcrop of 7 to 8 kilometres of strike.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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