Corazon Mining Ltd (ASX:CZN) has identified a number of new nickel-copper sulphide targets after completing a 430 line-kilometre MobileMT airborne geophysical survey over a large portion of the Lynn Lake Project area in Canada.
Data for these areas is being incorporated with existing geophysical datasets, enabling the detailed definition of new priority drilling targets.
Due to the number of new prospective areas and the size of the geophysical dataset, interrogation of the geophysical data generated is underway and final detailed results with prioritised drill targets are expected by the end of this month.
New technique for nickel exploration
MobileMT is a relatively new geophysical technique for nickel exploration and early results at Lynn Lake indicate that its suitability for exploring for massive sulphides deposits has far surpassed any of the previous geophysical techniques utilised at the project.
Corazon initially considered the use of MobileMT for nickel exploration at Lynn Lake due to the ineffectiveness of electromagnetic (EM) geophysics in the Lynn Lake environment.
Additionally, the MobileMT system provides a range of three-dimensional datasets that may be beneficial in distinguishing magmatic nickel-copper sulphides from other sulphide occurrences.
Lynn Lake Project Area outline, MobileMT survey flight lines, drill holes reported and prospects over a regional aeromagnetic image.
Corazon’s initial assessment is that priority targets will include coincident conductive and magnetic anomalies, a combination potentially indicating high concentrations of nickel-copper magmatic sulphide.
The company has consolidated the entire historical Lynn Lake Nickel Copper Cobalt Mining Centre in the province of Manitoba, which is the first time Lynn Lake has been under the control of one company since mine closure in 1976.
Lynn Lake presents the company with a major development opportunity that is becoming increasingly prospective due to recent increases in the value of both nickel and cobalt metals, and their expected strong demand outlooks associated with their core use in the emerging global electric vehicle industry.