viewCorazon Mining Ltd

Corazon Mining reviews Lynn Lake Nickel Project ahead of accelerated exploration

The Lynn Lake mining centre has been described as 'one of the best' brownfields exploration plays in North America.

Corazon Mining Ltd - Corazon Mining reviews Lynn Lake Nickel Project ahead of accelerated exploration
Corazon controls the entire Lynn Lake Mining Centre in Manitoba, Canada

Corazon Mining Ltd (ASX:CZN) has reviewed its Lynn Lake Nickel Project in Manitoba, Canada, ahead of accelerated exploration and development plans following improved nickel markets.

As part of Corazon’s process of defining Lynn Lake’s development potential, new quality resource estimations have been completed and modern metallurgy has delivered a major technical breakthrough, producing separate high-value and high-purity nickel and copper concentrates.

This work will enable the determination of value for the historical Lynn Lake mining centre in Manitoba at a time when there is an expectation of future increased demand for metals.

With little modern exploration being undertaken, the company believes the opportunity for discovery at Lynn Lake is substantial.

Mineral resource estimate upgrade

The current total resource estimate includes just six deposits within the mining centre, with numerous areas of mineralisation yet to be evaluated as potential additions to the resource base.

The resource includes 16.3 million tonnes at 0.72% nickel, 0.33% copper, 0.033% cobalt for total contained metal of 116,800 tonnes nickel, 54,300 tonnes copper and 5,300 tonnes cobalt with 5.4 million tonnes at 0.99% nickel, 0.41% copper, 0.043% cobalt of high-grade material.

Upcoming drilling

Recent work highlights Lynn Lake’s potential, with discoveries made by several companies including Western Areas NL (ASX:WSA) and Independent Nickel Inc.

Mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below the surface.

The company’s recent work has highlighted the potential to define additional resources closer to the surface, adjacent to historically mined areas.

Priority targets for upcoming drilling programs are focused on near-surface mineralisation, as well as areas on-trend from the historical workings at Lynn Lake.

Corazon is working on plans for new drilling programs to test these areas, in addition to further work at the A Orebody and E Orebody prospects.

Regional exploration

A priority target for the company is the Fraser Lake Complex (FLC) where drilling has discovered a large magmatic sulphide system that is an analogy to the Lynn Lake deposits.

The best results returned to date include 22.6 metres at 0.70% nickel and 0.35% copper from 258 metres and 27 metres at 0.37% nickel and 0.16% copper from 30 metres.

Exploration work at FLC is underway and is expected to identify priority drill targets for consideration in the near term.

Mining and mineral processing studies

Studies in progress for Lynn Lake have identified areas where it is believed processes can be improved and costs reduced.

Historically, Lynn Lake was a large-tonnage low-cost mining operation.

The current mining studies are looking to reduce mining and capital development costs for a potential underground operation through the implication of modern mining practices and new technology.

Recent metallurgical test work has delivered ‘exceptional’ results and there is a strong belief that further improvements can be made.

The focus for this work will include the scoping and test work for pre-flotation sorting of low-grade disseminated mineralisation to feed grade and onsite downstream processing options.

Quick facts: Corazon Mining Ltd

Price: 0.003 AUD

Market: ASX
Market Cap: $9.76 m

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