CZN 0.00% 0.4¢ corazon mining limited

Ann: Lynn Lake drilling underway, page-7

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  1. 2,828 Posts.
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    At last amigos, at last! In January 2020 (yes three years ago), Corazon announced great grades and decent intercepts of nickel, copper and cobalt in the old Mining centre at Lynn Lake. That announcement gave results such as: "37.8 m @ 1.68%Ni, 0.67%Cu, 0.050%Co from 10 metres; including 22.6m @ 2.30%Ni, 0.82%Cu, 0.068%Co from 24.4 metres". In those days, Corazon's aim was to explore new areas of Lynn Lake in order to find shallow, high-grade new deposits whicht could be used as feed for start up of mining - after 3 years of mining it would re-start underground mining on its JORC-compliant ore bodies. To quote the highlight of the announcement on 21st January 2020: ".. plans for further drilling at the A Orebody and E Orebody and other targets are underway, as are development/ metallurgical studies". But further drilling at Lynn Lake did not occur - no more drilling was carried out at Lynn Lake. Instead the company chased the possibility of a discovery at the Fraser Lake area. Unfortunately for shareholders, the elusive discovery has not materialised yet. In the meantime, the shareprice has fallen by 20 fold in those three years (when the consolidation is taken into account). So when I read that the company is finally returning to drill prospects at the old mining centre and elsewhere in Lynn Lake, it's great news. It's long overdue news, IMO. I can understand the company exploring Fraser Lake but they should not have shelved the drilling at Lynn Lake in the process, IMO. Also remember that Corazon discovered the EL Deeps deposit at Lynn Lake in about 2017 (with >2% nickel and long intercepts). Unfortunately, Fraser Lake's ore bodies are hidden by false positives that has wasted the company's time and money - unhelpful geophysics has wasted time and money on drilling these mirages. This is not the same for Lynn Lake. Experts have said that the deposits at Lynn Lake and Fraser Lake formed at different times and have different morphology. Lynn Lake is exceptional because its deposits are large, long vertical columns of massive nickel sulphides. So I say Hooray. The company has brought the drilling team to Lynn Lake. Good luck team,
 
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