Join our daily newsletter At The Bell to receive exclusive market insights
- Corazon Mining (CZN) has recommenced drilling at the Lynn Lake Project in Canada
- The company began drilling the first hole last quarter, however, the spring melt in the northern hemisphere caused unstable surface conditions
- Corazon is targeting the Fraser Lake Complex where it hopes to make new nickel-sulphide discoveries
- The first hole drilled is expected to be completed in the next 10 days
- Depending on the results, Corazon may conduct further drilling at the Fraser Lake Complex
- Company shares were trading 25 per cent higher at 0.3 cents
Corazon Mining (CZN) has recommenced drilling at the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.
The company is focused on the Fraser Lake Complex (FLC) within the project. FLC is located five kilometres south of the Lynn Lake Mining Centre where Corazon is targeting new nickel-sulphide discoveries.
Corazon previously drilled one hole at the FLC in the June quarter and reached the top of the defined anomaly at a 523.4-metre depth.
Unfortunately, drilling was paused due to unstable surface conditions caused by the spring melt. Pleasingly, surface conditions have now stabilised.
“There were a couple of small frustrating delays, outside the control of the team, but it’s been a huge effort to get back over the hole, and we’re drilling now,” Managing Director Brett Smith said.
The first hole drilled is expected to be completed in the next 10 days. Depending on the results, the company will make plans for further drilling around the Fraser Lake Complex.
Company shares were trading 25 per cent higher at 0.3 cents each in early morning trade.
