Corazon Mining Limited's (ASX:CZN) ongoing induced polarisation (IP) geophysical survey has identified multiple large geophysical targets at Mt Gilmore Cobalt-Copper-Gold Sulphide Project in northern New South Wales.
The ground IP survey is testing recently identified large copper-cobalt-silver soil anomalies for geophysical characteristics typical of concealed copper-cobalt-gold sulphide bodies.
These large surface geochemical anomalies are believed to represent alteration zones associated with buried intrusive-related copper-sulphide systems within the Mt Gilmore trend.
IP survey results received to date have been encouraging.
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The Gordonbrook Hill (GBH) target is the ‘best’ IP anomaly identified to date, exhibiting moderate changeability anomalism over an area of about 1 kilometre in diameter.
Mapped leakages adjacent to and extending from the GBH target have previously returned rock ship sample results of up to 16.3% copper, 1,250ppm cobalt and 1.29 g/t gold, which reinforces this target area’s strong prospectivity.
The IP survey has defined large areas of moderate ‘IP changeability’ anomalism, interpreted to be hydrothermal alteration and sulphide mineralisation in association with high ‘IP resistivity’ areas, interpreted to be intrusive bodies.
This relationship is supported by Corazon’s filed mapping at Mt Gilmore.
IP methods have been used with great effect in the successful exploration for sulphide deposits in NSW.
Corazon’s IP survey at Mt Gilmore is a first-pass, wide-spaced program which provides an initial test of the effectiveness of IP within the project area.
IP surveys are typically used to identify the presence of mineralisation at depth, however, at Mt Gilmore correlation of the IP results at shallow depths with mapped geological features at surface has delivered a very positive outcome for Corazon.
It is expected priority targets for the company’s next round of drilling will be defined from this work.
The IP survey is expected to be completed by the end of July.
Corazon is preparing work program applications for drilling approvals and clearances of the targets defined to date for submission to the NSW Government.
This process will remain ongoing as more drill targets are confirmed.