CZN – Corazon Mining Limited
Corazon Mining (ASX: CZN) has intersected an extensive 23 metre sulphide breccia below the current resource at the Lynn Lake Nickel Sulphide Project in Manitoba, Canada.
The intercept from drilling at 731.25 metres down hole showed visible nickel and copper sulphides and may constitute a new zone of massive breccia as mined at the historic EL Mine. Processing and assaying of core is in progress.
Corazon expects to complete the current hole by early next month with assays and down hole geophysics results by early July.
The company has planned to drill to a depth of 1,250 metres providing for down hole geophysics and additional drilling.
Earlier this month, Corazon defined additional nickel sulphide mineralisation at Lynn Lake.
Highlights from early May include:
– 9.07 metres at 0.81% nickel, 0.53% copper and 0.016% cobalt from 14 metres; and
– 6.00 metres at 0.64% nickel, 0.61% copper and 0.016% cobalt from 78 metres.
Corazon also reported in early May that extension drilling at the EL Deposit is continuing, with nickel sulphides intersected.
Corazon recently established an initial inferred resource at the EL Mine of 1.8 million tonnes (Mt) at 1.0% nickel (Ni) Equivalent.
Drilling of extensions to the mineralisation are expected to add to the EL Mine resource. The EL Deposit has been mined to 210 metres below surface and has a resource defined to 600 metres below surface.
Lynn Lake is Canada’s third largest nickel mining region, which produced 22 million tonnes of nickel/copper/cobalt ore between 1953 and 1976, with only minimal exploration in the region since.
The EL Mine had the highest grade deposit in the Lynn Lake district and produced 1.9 million tonnes at 2.5% nickel and 1.15% copper until it closed in 1976.
The area is well serviced with mining infrastructure and support, offering rapid development potential.
The Thompson Nickel Refinery is located 320 kilometres from the project and is accessible by all weather roads.
