Corazon Mining Ltd’s (ASX:CZN) latest exploration results at Mt Gilmore Copper-Cobalt-Gold Project in northern New South Wales have confirmed the project’s porphyry potential.
The company has identified a copper-bearing diorite porphyry intrusion at Gordonbrook Hill Prospect which is coincidently on the margins of a high-grade copper and gold soil geochemical anomaly, and the surface projection of a concealed, high-value, induced polarisation (IP) geophysical anomaly.
The company is confident this increases Mt Gilmore’s prospectivity significantly.
Mt Gilmore Project area and Gordonbrook Hill prospect copper soil geochemical images with geology and prospect locations.
Drilling plans underway
The porphyry intrusion sits within an anomalous copper, gold, silver, cobalt and molybdenum trend in excess of 20 kilometres in length.
These coincident geochemical and geophysical anomalies at Gordonbrook Hill represent a mineralised porphyry target, which is now the priority target at Mt Gilmore.
Detailed planning for drilling is underway, along with requisite NSW Government permitting and approvals for drilling.
Key battery commodities
Mt Gilmore, which is a regionally substantive hydrothermal system with extensive cobalt, copper and gold anomalism, hosts the Cobalt Ridge Deposit - a unique high-grade cobalt-dominant sulphide deposit.
The company has completed definition drilling at Cobalt Ridge and is identifying new areas prospective for additional lookalike deposits.
Both Mt Gilmore and the Lynn Lake project in Manitoba, Canada, place Corazon in a strong position to take advantage of the growing demand for commodities critically required for the booming rechargeable battery sector.
