Aiming to identify extensions to cobalt-copper-gold mineralization
Corazon Mining Ltd (ASX:CZN) is continuing to deliver exciting results from exploration underway at the Mt Gilmore Cobalt-Copper-Gold Sulphide Project in New South Wales.
The current phase of exploration comprises systematic geophysical and surface geochemistry programs looking to test extensive areas of the project as quickly as possible.
Priority objectives include identifying extensions to the cobalt-copper-gold sulphide mineralisation at Cobalt Ridge, as well as defining new targets within the greater Mt Gilmore Project area.
The wider Mt Gilmore Project area hosts multiple historical copper-gold workings exhibiting mineralisation similar to that at Cobalt Ridge that have yet to be tested for cobalt.
These areas provide the discovery potential for multiple Cobalt Ridge ‘lookalike’ deposits, which would significantly expand Mt Gilmore’s cobalt-copper-gold sulphide endowment.
The main gold anomaly is about 700 metres by 500 metres in area and open, peaking at 690 ppb gold.
This discovery exemplifies Cobalt Ridge’s blue-sky potential for cobalt-copper-gold sulphide deposits within the Mt Gilmore Project.
Final data from Cobalt Ridge survey received
Corazon has also completed a detailed 3D induced polarisation geophysical survey at the project’s main prospect, Cobalt Ridge.
Several primary anomalies have already been delineated, with further processing/3D inversion efforts currently in progress and expected to be completed in early June.
Corazon’s current phase of work is focused on identifying drill targets for testing in mid-2018, including:
• Resource definition at Cobalt Ridge; and
• New areas of cobalt mineralisation.
CZN Price at posting:
1.1¢ Sentiment: None Disclosure: Held
