leadf
logo-loader
viewCorazon Mining Ltd

Corazon Mining expands Lynn Lake project area with large new conductor target defined

Lynn Lake in Manitoba, Canada, presents a major development opportunity due to recent increases in the value of nickel and cobalt, and a strong outlook associated with the emerging global electric vehicle industry.

Corazon Mining Ltd - Corazon Mining expands Lynn Lake project area with large new conductor target defined
Corazon has consolidated the entire historical Lynn Lake nickel-copper-cobalt mining centre.

Corazon Mining Ltd (ASX:CZN) has strategically expanded Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba Province, Canada, by acquiring more land that hosts a large new geophysical anomaly.

The expanded tenure covers a recently identified large geophysical conductor, securing a new priority target for upcoming drilling.

Corazon said the target was substantial, with two sub-vertical pipe-like bodies – open at depth – known as the South Pipe Target.

South Pipe’s target model is similar to Lynn Lake’s high-grade EL Mine, at which 1.9 million tonnes was mined at 2.4% nickel and 1.15% copper.

“Identified feature almost immediately”

Corazon chairman Terry Streeter said: “We identified this feature almost immediately in the new geophysical data, more than six or seven weeks ago.

“Since then, the main priority has been to secure tenure over the anomaly.

“So far, these targets are the only pipe-like bodies defined in the Fraser Lake area, an area that exhibits widespread sulphide mineralisation.

“This is what we’ve been chasing.

“Importantly, they represent a critical ingredient to understanding the geological model at Fraser Lake and are potentially ‘up-stream’, closer to the source, from gabbros polluted with nickel-copper-cobalt mineralisation.”

Exploration plans

Corazon recently completed an aerial Mobile MT geophysical survey at Lynn Lake that identified multiple new anomalies indicative of nickel-copper-cobalt sulphide mineralisation.

The most substantial and highest priority geophysical anomaly defined by the MobileMT survey was on vacant tenure outside of Corazon’s Lynn Lake project area, south and immediately adjacent to the prospective Fraser Lake Complex (FLC).

This new anomaly includes two large magnetic pipe-like bodies, one of which is conductive, possibly indicative of a deep-seated intrusive pathway that appears linked to known nickel-copper-cobalt sulphide mineralisation within the FLC.

MobileMT total magnetic intensity image with outlines of interpreted mafic/ultramafic intrusive bodies, drill holes, Matrix Trend IP anomaly and MobileMT conductive targets of interest.

The conductive anomaly is now a priority drill target in Corazon’s exploration for massive sulphide mineralisation at Lynn Lake.

Corazon is organising a northern winter drilling program over the recently defined priority targets at Lynn Lake and plans to start drilling as soon as COVID-19 related movement restrictions are relaxed.

The first stage of the drilling program will be the preparation of access tracks and drill sites.

This work will be carried out as soon as possible, taking advantage of any freezing conditions, ahead of the starting of drilling, which is anticipated early in 2021.

South Pipe Target

The newly defined South Pipe magnetic anomaly includes two parallel pipe-like bodies about 150 metres apart and these are a dominant geophysical feature in the area west of the FLC.

These pipe-like bodies provide an exploration target similar to the high-grade EL Deposit which was mined to a depth of around 250 metres below the surface.

Fraser Lake Complex area expanded

The greater Fraser Lake Complex target area has been expanded to encompass several intrusive mafic/ultramafic bodies, including the main body of the FLC, the Southeast Lobe, the Motruiuk Ultramafic Complex, the South Pipe and areas that interconnect these bodies.

This intrusive complex is more than twice the size of the intrusive host for the historical Lynn Lake Mining Centre.

Quick facts: Corazon Mining Ltd

Price: 0.003 AUD

ASX:CZN
Market: ASX
Market Cap: $9.76 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Corazon Mining Ltd named herein, including the promotion by the Company of Corazon Mining Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Corazon Mining acquires new land in Canada that hosts large new geophysical...

Corazon Mining Ltd's (ASX:CZN) Brett Smith tells Proactive's Andrew Scott they've strategically expanded the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba Province, Canada, by acquiring more land that hosts a large new geophysical anomaly. The expanded tenure covers a recently...

on 24/11/20

3 min read