Corizon Mining (ASX:CZN) - Managing Director & CEO, Brett Smith
Managing Director & CEO, Brett Smith
Sourced: HotCopper
The Market Online - At The Bell

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  • Corazon Mining (CZN) has received high-grade results from its Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada
  • Results from the program peaked at 2.36 per cent nickel, 0.66 per cent copper, and 0.063 per cent cobalt
  • The aim of this program was to identify additional areas of high-grade mineralisation
  • Corazon also recently undertook drilling at the Fraser Lake Complex to test a newly defined target
  • The first hole in the program reached the beginning of an anomaly, however, any further drilling has been paused due to unsafe ground conditions caused by melting snow
  • Corazon expects operations to resume once the levels recede
  • Company shares are steady today and are trading for 0.3 cents each

Corazon Mining (CZN) has received high-grade results from its Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.

All results have now been received for the three hole, 243.4 metre drilling program that was completed at the A Orebody.

Significant results include 37 metres at 1.34 per cent nickel, 0.50 per cent copper, 0.040 per cent copper from eight metres including 8.35 metres at 2.36 per cent nickel, 0.66 per cent copper and 0.063 per cent cobalt from 17 metres.

This program targeted areas that Corazon identified in December 2019. The aim of that program was to test the potential for high-grade nickel-copper-cobalt surface extensions of historically mined underground deposits.

Coupled with the December drilling, a total of six holes have successfully defined additional areas of high-grade mineralisation that has the potential to add to Lynn Lake’s existing resource base.

The project’s current resource base sits at 16.3 million tonnes at 0.72 per cent nickel, 0.33 per cent copper and 0.033 per cent cobalt for total contained metal of 116,800 tonnes nickel, 54,300 tonnes copper and 5300 tonnes cobalt with 5.4 million tonnes at 0.99 per cent nickel 0.41 per cent copper, and 0.043 per cent cobalt.

Results from this program have highlighted the potential to define extra resources closer to the surface.

Fraser Lake Drilling

Corazon also recently undertook drilling at the Fraser Lake Complex to test a newly defined target.

The first hole reached the beginning of an anomaly and it displayed an increase in sulphide content from a depth of 490 metres.

However, any further drilling at Fraser Lake has been paused due to unsafe ground conditions that has been caused by high water levels from melting snow.

Corazon expects operations to resume once the levels recede.

Company shares are steady today and are trading for 0.3 cents each at 12:47 pm AEST.

CZN by the numbers
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