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Corazon Mining Ltd

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

The ongoing regional exploration program is shoring up the project with the aim of assessing its resource potential.

Cobalt Ridge core sample
Sulphide mineralisation from Cobalt Ridge

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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