Sign up Australia
Proactive Investors - Run By Investors For Investors

Corazon Mining identifies promising cobalt mineralisation at Mt Gilmore Project

Cobalt mineralisation identified from 3200 metre drilling program at Mt Gilmore Project.
Picture of cobalt symbol on periodic table
Presence of cobalt mineralisation boosts confidence at Mt Gilmore project

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.

View full CZN profile View Profile

Corazon Mining Ltd Timeline

Related Articles

1534333583_Thunderstruck---Bryce-Bradley.jpg
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji
project area
Wed
The company has identified extensive copper-nickel-cobalt mineralisation at the Mt Venn Project outlined over several kilometres.
1537926138_cobalt-on-periodic-table.jpg
September 26 2018
Mt Gilmore Project and the Cobalt Ridge cobalt prospect are priority focuses for the company which will present at the RIU Resources Investor Roadshow in Melbourne tomorrow.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use