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Corazon Mining Ltd

Corazon Mining eyes emerging rechargeable battery sector with nickel, cobalt projects

Snapshot

The recent recovery in the price of nickel has led Corazon to undertake a strategic review of its Lynn Lake Project in Canada.

Corazon Mining Ltd - Corazon Mining eyes emerging rechargeable battery sector with nickel, cobalt projects

Quick facts: Corazon Mining Ltd

Price: 0.002 AUD

Market: ASX
Market Cap: $4.08 m
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Corazon Mining Ltd (ASX:CZN) is a base metals explorer advancing the Lynn Lake Nickel Copper Cobalt Mining Centre in Canada and the Mt Gilmore Cobalt Copper Gold Sulphide Project in NSW.

These two projects have the potential to supply strategic metals to what is forecast to be a major growth sector – the rechargeable battery industry.

Corazon is an aggressive explorer and in recent times has discovered new large sulphide systems at both the projects.

Lynn Lake Nickel Copper Cobalt Mining Centre - focus on Lynn Lake Nickel Precinct

The recent recovery in the price of nickel has led Corazon to undertake a strategic review of its Lynn Lake Project, creating the opportunity for accelerated exploration and development plans.

Priority targets for upcoming work programs will focus on near-surface mineralisation, as well as areas on-trend from the historical workings at Lynn Lake.

Corazon’s process for defining Lynn Lake’s development potential has included new quality resource estimations and modern metallurgy.

Notably, metallurgical work has delivered a major technical breakthrough, for the first time at Lynn Lake producing separate high-value and high-purity nickel and copper concentrates.

This work will underpin the commencement of a scoping study into the potential development of Lynn Lake.

With little modern exploration being undertaken, the opportunity for discoveries at Lynn Lake is substantial.

Mt Gilmore Cobalt Copper Gold Project-  geophysical targets identified below large surface geochemical anomalies

Corazon has completed its 80% earn-in interest at Mount Gilmore by completing $2 million in exploration expenditure at the project within three years of commencement of the agreement with the project vendors.

The company has identified high tenor induced polarisation (IP) geophysical targets at Mt Gilmore which

are coincident with large copper-cobalt-silver soil anomalies with the priority target over 1 kilometre in diameter.

The target area previously returned high-grade rock chip assays up to 16.3% copper, 1,250 ppm cobalt and 1.29 g/t gold.

Corazon’s IP survey is ongoing, targeting recently discovered geochemical anomalies. Current field work is designed to define priority targets for the next phase of drilling.

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Full interview: Corazon Mining appoints nickel identity as chairman with...

Corazon Mining Limited (ASX:CZN) managing director Brett Smith updates Proactive on the appointment of leading nickel sector identity Terry Streeter as company chairman. Streeter will help drive an accelerated exploration and development program at the Lynn Lake nickel-copper-cobalt sulphide...

on 19/9/19

3 min read