- Corazon Mining (CZN) has provided an update on the current phase of drilling at its Lynn Lake Project in Canada
- Preliminary results from the first three holes completed have been highly positive with all intersected strong sulphide mineralisation
- In addition to testing the historical mining areas, several new high-potential areas have also been defined within the Lake Lynn Mining Centre
- Corazon’s share price is up an even 50 per cent, with shares currently trading for 0.3 cents apiece
Corazon Mining (CZN) has provided an update on the current phase of drilling at its Lynn Lake Project in Canada.
Preliminary results from the first three holes completed, holes 5,6 and 7, have been highly positive with all three holes intersecting strong sulphide mineralisation.
This includes a broad zone of more than 35 metres of strong sulphide mineralisation in hole 7.
The three completed holes have been drilled for a total of approximately 356 metres and have targeted areas around the A Orebody that was previously covered by infrastructure from the A-Shaft and processing plant area.
The A Orebody was mined underground between 1953 and 1965, and produced 4.8 million tonnes at 1.07 per cent nickel and 0.55 per cent copper.
While the massive sulphide crown-pillar was mined to surface, it was expected that good mineralisation existed where historical infrastructure restricted surface mining.
Corazon’s current phase of drilling is focused on the Lynn Lake Mining Centre where the primary targets are near-surface mineralisation on-strike from historical mines and existing resource areas.
The aim is to further expand the project’s already significant resource base.
Approximately 1200 metres of diamond core drilling is planned for the current program which is expected to be completed in December.
All three holes completed to date have intersected strong sulphide mineralisation, including heavy spreading with narrow semi-massive zones which are consistent with the typical Lake Lynn style of mineralisation.
Hole 5 intersected at least five metres of good sulphide mineralisation before being terminated due to intersecting what is believed to be backfilled crown pillar stope.
Hole 6 intersected multiple narrow zones of mineralisation, consistent with mineralisation marginal to the Lynn Lake deposits.
This hole also intersected several zones of siliceous ore, mineralised inclusions of sediment within mafic intrusions.
The presence of these ores is important as they represent a source of high-grade nickel mineralisation within the N Deposit in the southern part of the Mining Centre.
Hole 7 interceded a broad zone of more than 35 metres of strong sulphide mineralisation between 7-42 metres downhole.
The bottom part of the hole is similar to that intersected in hole 6.
In addition to testing the historical mining areas, several new high-potential areas have also been defined within the Lake Lynn Mining Centre representing further resource upside potential.
Corazon’s share price is up an even 50 per cent, with shares trading for 0.3 cents apiece at 3:01 pm AEDT.