CZN 0.00% 0.9¢ corazon mining limited

Amigos, I too am hoping for a quick discovery, but also reckon I...

  1. 2,786 Posts.
    lightbulb Created with Sketch. 1697
    Amigos, I too am hoping for a quick discovery, but also reckon I need a bit more patience. Just put yourself in the outback of WA at Miiriam. What you see in every direction is soil cover and sparse bush. Now where do you drill? At what angle should you set the drill? How deep do you go, especially if the drill bit is not striking mineralisation? You know you are lookng for massive sulphide mineralisation at a depth of 200m or so, which means you are committed to 250 metres for each hole. But if you drill in the wrong direction or follow a false lead, in the end you have to report a duster to shareholders. Also, the cost of drilling plus assays is about $200 per metre - so each 250 metre hole costs about half a million dollars! And how many dusters does it take to make a discovery? If Corazon was a big company it would probably pattern drill the whole area, and have a budget of 10s of millions of dollars. So, we just need some patience while we wait for the interpretation then the approval by the authorities - maybe drilling will start in late April or May? Remember we know that Miriam is mineralised with massive nickel sulphide, the driller just has to find its best thicknesses and grades. So good luck with that.
 
watchlist Created with Sketch. Add CZN (ASX) to my watchlist
(20min delay)
Last
0.9¢
Change
0.000(0.00%)
Mkt cap ! $5.54M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
22 2531910 0.8¢
 

Sellers (Offers)

Price($) Vol. No.
0.9¢ 26342 2
View Market Depth
Last trade - 10.02am 30/05/2024 (20 minute delay) ?
CZN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.