Exploration in progress. Source: Corazon Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Corazon Mining (CZN) identifies a new 3.5-kilometre target at the Fraser Lake Complex within the Lynn Lake nickel-copper-cobalt sulphide project in Canada
  • The target was identified through a recently completed four-hole drilling program which tested the western and eastern extents of the Matrix Trend
  • The area has been mapped as a ‘sulphide-rich’ feeder conduit which intrudes into the Fraser Lake Complex
  • Corazon will follow up the 3.5-kilometre area with drilling early in 2022
  • Company shares have been trading down 2.94 per cent at 3.3 cents

Corazon Mining (CZN) has identified a new target at the Fraser Lake Complex, which is located within the Lynn Lake nickel-copper-cobalt sulphide project in Canada.

The target was found through a recently completed drilling program which included four holes, for 2143 metres, to test the western and eastern extents of a mineralised intrusive channel, identified as the Matrix Trend.

The Matrix Trend is an induced polarisation (IP) chargeability high anomaly that was defined by geophysical surveys between 2016 and 2018.

Drilling examined the Matrix Trend anomaly over an approximate 1.6-kilometre strike and is believed to be part of a ‘sulphide-rich’ feeder conduit (intrusive horizontal channel) that can be traced over 3.5 kilometres.

The 3.5-kilometre area intrudes from the South Pipe intrusion to the southwest into the Fraser Lake Complex and is considered a high priority for follow-up exploration.

New geophysical modelling showed the mineralised channel feeds into an area of high density, and possibly ultramafic lithologies, which haven’t been previously recognised and is untested by drilling.

Corazon plans to follow up on the new target with exploration drilling in the new year.

Company shares were down 2.94 per cent to trade at 3.3 cents at 11:47 am AEDT.

CZN by the numbers
More From The Market Herald

" Frugl (ASX:FGL) releases new grocery app update

Retail intelligence ecosystem Frugl (ASX: FGL) has released version 3.0 of Frugl Grocery, a free grocery…

" Vanadium Resources (ASX:VR8) increases stake in Steelpoortdrift Project

Vanadium Resources (A:VR8) increased its interest to 73.95 per cent in the Tier 1 Steelpoortdrift Vanadium…

" PNX Metals (ASX:PNX) aims to raise $4.6 million from entitlement offer

PNX Metals (ASX:PNX) is aiming to raise $4.6 million through a non-renounceable entitlement offer.
The Market Herald Video

" Beforepay (ASX:B4P) still in the red after Monday debut

Beforepay Group (ASX:B4P) still in the red after Monday debut