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

Drilling focused on the Cobalt Ridge prospect within the Mt Gilmore Project.
Interpreted cross-section for MGRC042
Cobalt Ridge remains substantially under-drilled and shows good potential for mineralisation growth

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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