Corazon Mining Ltd (ASX:CZN, OTC:CRZNF) has discovered additional nickel-copper-cobalt sulphide deposits during drilling at the Fraser Lake Complex (FLC) within its Lynn Lake Nickel Copper-Cobalt Sulphide Project in Canada.
The discoveries come from a recently completed two-hole drill program at the FLC, about five kilometres south of the historical Lynn Lake Mining Centre.
New geophysical methods
Results confirm that the groundbreaking new geophysical methods used by Corazon are effective in identifying sulphide mineralisation with additional high-priority targets within the geophysical survey test area yet to be drilled.
Drill holes FLC-2023-057 and FLC-2023-058 targeted a pipe-like conductive anomaly, labelled as MTC-3, about 80 metres in diameter and extending from near surface to more than 700 metres below surface.
Drilling intersected a pyroxenite of about 30 metres in diameter, with a two to three-metre sulphide-rich zone at the centre of the intrusion.
Assays from both drill cores about 170 metres apart down-dip returned:
- FLC-2023-057 - 1.85 metres at 0.34% nickel and 0.24% copper from 226.75 metres; and
- FLC-2023-058 - 0.88 metres at 0.40% nickel and 0.09% copper from 24.80 metres.
FLC-2023-057 core showing nickeliferous centre of pyroxenite intrusion.
Digging deeper
The 6-kilometre-by-3-kilometre Lynn Lake is a large magmatic sulphide system that has only been subjected to wide-spaced drilling over a small portion of the system.
Drill results from MTC-3, along with a reassessment and reprocessing of all geophysical datasets, indicate that the pipe-like anomaly is part of a much larger body, some 500 metres wide with a core of about 300 metres in diameter.
Drill hole FLC-2023-057 also intersected 55.4 metres of complex sulphide mineralisation but results show that this large sulphide body does not form part of the anomaly targeted by the recent drilling.
The best intercept from here was low-grade and fine-grained in characteristic, returning 15.6 metres at 0.12% nickel and 0.11% copper from 194.4 metres.
Next step
The MTC-3 anomaly was the first to be tested since it was the most easily accessible.
Corazon plans to drill MTC-1 and MTC-2, two other geophysical anomalies defined by the same 3D ground magnetotelluric (MT) survey, in the next phase of drilling.
This is, however, subject to ground conditions as exploration drilling at Lynn Lake is typically best carried out during winter.
Ground conditions will continue to be monitored so that drilling can occur at the earliest possible time.
The explorer is also developing plans to extend the test survey area to include other prospective targets within the FLC.
Fraser Lake Complex air gravity inversion image showing numerous dense pipe-like bodies.
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