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Corazon Mining director shows support for nickel-copper-cobalt strategy with on-market purchase

Published: 09:19 14 May 2020 AEST

Corazon Mining Ltd - Corazon Mining non-executive director demonstrates faith in the company’s nickel-copper-cobalt strategy with share purchase
Corazon last month exercised an option to acquire 100% of the Lynn Lake Nickel-Copper-Cobalt Sulphide Project area

Corazon Mining Ltd (ASX:CZN) non-executive director Jonathan Downes has demonstrated faith in the company’s nickel-copper-cobalt strategy with the purchase of shares in an on-market transaction.

On May 13 Downes acquired 2.5 million shares in an indirect interest of which he has a beneficial interest.

The purchase increased the total number of indirect securities held to more than 5.23 million as well as maintaining the more than 6.625 million shares held in a direct interest.

High-grade drilling results

Corazon recently recorded high-grade assays from its latest phase of drilling at the Lynn Lake Nickel-Copper-Sulphide Project in Manitoba, Canada.

All results have now been returned from the three-hole, 243.4-metre drill program completed at the A Orebody within the Lynn Lake Mining Centre.

The results have delivered further exceptional high-grade nickel, copper and cobalt intersections, including:

  • 37 metres at 1.34% nickel, 0.50% copper and 0.040% cobalt from 8 metres, including 8.35 metres at 2.36% nickel, 0.66% copper and 0.063% cobalt from 17 metres; and
  • 21 metres at 0.67% nickel, 0.50% copper and 0.020% cobalt from 8 metres.

This drilling defined additional areas of high-grade mineralisation with the potential to add to the project’s significant existing resource base.

Corazon Mining confirms further sulphides at Lynn Lake

Corazon Mining Ltd (ASX:CZN, OTC:CRZNF) managing director Brett Smith tells Proactive the company has discovered additional nickel-copper-cobalt sulphide deposits during drilling at the Fraser Lake Complex (FLC) within its Lynn Lake Nickel Copper-Cobalt Sulphide Project in Canada. The...

on 15/8/23