Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the exploration program for 2022 has commenced at its wholly owned Lynn Lake Nickel-Copper Cobalt Sulphide Project (Lynn Lake or Project) in Manitoba Province, Canada
The Company has commenced a detailed airborne gravity survey designed to refine gravity high targets (dense bodies) for testing in the next phase of exploration drilling. Geophysical surveys are critical for exploration at Lynn Lake, where there is little surface exposure of basement rocks. The aerial gravity survey will cover the entire Project and is scaled to test for small dense bodies, such as individual massive sulphide deposits (typical of Lynn Lake) and small isolated mafic plugs such as the high-grade EL Mine.
Initial results from the gravity survey are expected this month, subsequent to which plans for drilling will be finalised. Drilling is currently planned to commence within the March quarter. Of immediate priority is the Fraser Lake Complex (FLC) approximately five (5) kilometres south of the Lynn Lake Project's main mining centre. Corazon's exploration of the FLC has identified a sulphide rich conduit (an intrusive horizonal channel or feeder zone), extending over approximately 3.5 kilometres and intruding as a late-event into a pre-existing gabbroic complex (ASX announcement 10 December 2021). Geophysical modelling of existing 200 metre spaced gravity data indicates this conduit feeds into a large dense body, approximating to the centre of the FLC's 'eye'.
The dense body identified at the core of the FLC is interpreted to be ultramafic lithologies (possibly peridotites), that come close to the surface, but has not been previously recognised or tested with drilling. Of note within the Lynn Lake Mining Centre, ultramafic lithologies have a close spatial and timing association with the massive nickel-copper-cobalt sulphide deposits that are part of Corazon's large JORC resource estimation.
New Immediate Priority FLC Target
The results of Corazon's 2021 exploration program at Lynn Lake identified a new immediatepriority target area at the FLC (ASX announcement 10 December 2021). Corazon's exploration focus at the FLC has been the Matrix Trend, an IP chargeability high (anomaly) defined by geophysical surveys between 2016 and 2018. The Matrix Trend is interpreted to be an exposed (by erosion) part of a sulphide-rich magma conduit that has 'punched' into the older and more fractionated Fraser Lake 'gabbroic' complex.
MobileMT magnetic image at 250m below surface, with drill hole collar locations. Arrows depict flow of magma from the South Pipe into the Fraser Lake Complex and Motruiuk Ultramafic. Datum NAD83 Zone 14N. The intrusive conduit can be traced laterally over 3.5km, from the 'South Pipe' intrusion to the southwest of the FLC. New modelling of geophysical datasets indicates the conduit system plunges into the FLC and into an area of higher density, which is indicative of ultramafic lithologies. Ultramafics (peridotites) have yet to be identified in outcrop or drilling within the FLC, however within the Lynn Lake Mining Centre, peridotites have a very strong spatial and timing association with the massive nickel sulphide orebodies. The existence of peridotites within the FLC would be extremely encouraging and would enhance the possibility for the discovery of a Lynn Lake-style mineralised system.
The current model for the Matrix Trend is that it is essentially the 'vapor trail' of a sulphide-rich magma that has intruded further into the FLC. Sulphide-rich and ultramafic melts are very hot, less viscous, potentially more penetrative, and will travel further than gabbroic melts. The possible existence of ultramafic within the FLC, intruding close to the surface, provides an excellent target, and a focus for exploration in early 2022.
Contact:
Brett Smith
Tel: +61 (08) 6166 6361
Email: info@corazonmining.com.au
About Corazon
Corazon Mining Limited (ASX: CZN) is an Australian resource company with projects in Australia and Canada. In Canada, Corazon has consolidated the entire historical Lynn Lake Nickel Copper Cobalt Mining Centre (Lynn Lake) in the province of Manitoba. It is the first time Lynn Lake has been under the control of one company since mine closure in 1976. Lynn Lake hosts a large JORC nickel-copper-cobalt resource and presents Corazon with a major development opportunity that is becoming increasingly prospective due to recent increases in the value of both nickel and cobalt metals, and their expected strong demand outlooks associated with their core use in the emerging global electric vehicle industry. In Australia, Corazon is exploring the Miriam Nickel-Copper Sulphide Project (Miriam) in Western Australia and the Mt Gilmore Cobalt-Copper-Gold Sulphide Project (Mt Gilmore) in New South Wales. Miriam is a highly prospective nickel sulphide exploration project, representing a strategic addition to Corazon's portfolio of nickel sulphide assets. Mt Gilmore is centered on a regionally substantive hydrothermal system with extensive copper, cobalt, silver and gold anomalism, including high-grade rock chip samples over a strike of more than twenty (20) kilometres. Mt Gilmore also hosts the Cobalt Ridge Deposit - a unique high-grade cobalt-dominant sulphide deposit. The commodity mix of Corazon's projects place it in a strong position to take advantage of the growing demand for metals critically required for the booming rechargeable battery sector.
CORAZON MINING LIMITED 
