Additional assay results have been received for four holes, following recent drilling at Cobalt Ridge within the Mt Gilmore Cobalt-Copper-Gold Project in NSW
Results continue to be highly positive, identifying new high grade cobalt mineralisation and underpinning the significant potential of this system
Multiple sulphidic lodes identified in addition to the previously defined Cobalt Ridge Main Lode Results from final two holes are pending and anticipated in the coming weeks
Drilling to date has only tested a small area of outcrop at Cobalt Ridge –significant scope exists to extend the target area and mineralised footprint
Planning underway for next phase of field work to test extensions of mineralisation under cover
Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce additional high- grade assay results from its recently completed drilling program at the Cobalt Ridge Deposit (Cobalt Ridge), located within the Company’s Mt Gilmore Project (Project) in New South Wales.
Results from a further four holes have been returned and are reported in this announcement, with another two holes pending receipt. Best results from these latest assays were from holes MGRC038 and MGRC039, which tested geologically complex areas within the Cobalt Ridge Main Lode.
Table 1 includes significant drill intercepts from the current drilling campaign, with the better results from the new assays received including:
MGRC038
6m @ 0.12 % Co, 0.02 % Cu, 0.02 g/t Au
8m @ 0.13 % Co, 0.19 % Cu, 0.03 g/t Au
2m @ 0.24 % Co, 0.77 % Cu, 0.21 g/t Au
2m @ 1.37 % Co, 1.02 % Cu, 0.36 g/t Au
In total, the completed drilling program included 18 holes for 3,189m, for 2,426m of RC and 763m of core. Drilling has highlighted multiple cobalt, copper and gold mineralised trends in what is interpreted by the Company as a long-lived multiphase alteration and mineralising event (Figure 1, Table 1).
CZN Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
