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Corazon Mining Ltd.
Summary
| Project: | Mt Gilmore | |
|---|---|---|
| Deposit: | Cobalt Ridge | |
| Location: | Australia | |
| Commodities: | Cobalt-Copper-Gold | |
| Date: | 1/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-1-2017: Corazon Mining Ltd. announces an Exploration/Drilling Update report for its Cobalt Ridge deposit at the Mt Gilmore project. Drilling results incl. 34m @ 0.23% Co, 0.26% Cu, 0.08g/t Au from 42m. Corazon Mining Limited (ASX: CZN) (“Corazon” or “t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Brett Smith (Internal) | |
| ABSTRACT: | Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce the final core assay results from its recently completed maiden reverse circulation (RC) and core drilling program at the Cobalt Ridge prospect, Mt Gilmore Cobalt-Copper-Gold Project (“Project”) in north- eastern New South Wales. Two of the three core tails completed and six RC holes previously reported (ASX announcement of 14 December 2016) have intersected the Main Cobalt Lode (Table 1). RC and core drilling assay results have validated the Company’s assessment of Cobalt Ridge as a unique, high-grade cobalt-dominant deposit with the potential to deliver valuable, discrete high-grade zones of cobalt, within broader moderate grade mineralisation. The main cobalt lode has been drilled over a strike of about 200 metres, to a depth of 140 metres below surface (Figures 1 and 2). The mineralisation is open to the west, where it is coincident with soil geochemical anomalism and small-scale historical workings targeting copper mineralisation. The main cobalt lode mineralisation is typically about 16 metres in down-hole width (~8 metres true width), with intersections up to 37 metres down-hole. Average cobalt grades for these intervals within the drilling completed by Corazon are between 0.23% and 0.65% cobalt. Multiple higher-grade zones of up to 1.48% cobalt exist, at between one and seven metres down hole widths. Best individual one metre assay from this drilling is 2.79% cobalt. | |
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