- Corazon Mining has revealed its plans for drilling at the Lynn Lake Project in Canada
- Several high-priority drill targets have been defined and preparations for drilling these targets are now underway
- Corazon has ended the day steadily with shares trading for 0.3 cents apiece
Corazon Mining has revealed its plans for drilling at the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.
Lynn Lake, located in Manitoba, Canada, is a historically significant mining centre with large JORC compliant resources.
Its current JORC compliant resource identifies 110,300 tonnes of nickel metal along with 51,400 tonnes of copper and 5200 tonnes of cobalt.
Recent mining studies have primarily centred on nickel deposits at depths of more than 400 metres below the surface.
Corazon’s work has highlighted the potential to define additional resources closer to surface adjacent to historically mined areas.
These areas will be the initial focus for the upcoming drilling.
The nickel-copper-cobalt sulphide deposits at Lynn Lake were mined continuously between 1954 and 1976.
During this time it produced more than 20 million tonnes and it was one of Canada’s major nickel mining centres of its time.
Substantial resources remain and further extensive drills defined mineralisation which also exists within the mining centre.
These areas outline targets with the potential for further discoveries which would underpin a potentially sizable resource base at Lynn Lake.
In today’s announcement, Corazon announced the completion of an extensive targeting program focusing on areas surrounding the many historic mines within the project.
This work has incorporated the analysis and integration of multiple historic exploration datasets, combined with modern geophysical processing technologies.
Several high-priority drill targets have been defined and preparations for drilling these targets are now underway.
Permits for drilling have been granted by the Provincial Government of Manitoba and a drilling contractor has been engaged.
Corazon now plans to begin drilling as soon as possible with drilling targeting near-surface mineralisation, areas on-trend from historical mines, and areas adjacent to Corazon’s existing resources.
In addition, several new high-potential areas that are geophysically similar to previously mined areas have been defined within the Lynn Lake Mining Centre.
Corazon has ended the day steadily with shares trading for 0.3 cents apiece in a market cap valued at $4.076 million.