Initial exploration by Corazon Mining Ltd (ASX:CZN, OTC:CRZNF) at the MacBride base and precious metals project in Manitoba, Canada, suggests the project has potential to be a substantial standalone exploration play in the Lynn Lake district.
MacBride is not far from the company’s 100%-owned Lynn Lake nickel-copper-cobalt sulphide project which hosts a large JORC nickel-copper-cobalt resource.
The Lake Lynn area has a long history of mining for magmatic nickel sulphide, volcanogenic massive sulphide (VMS) deposits and orogenic gold, dating back to the late 1940s.
Multiple EM conductors identified
Corazon has processed data from an aerial versatile time domain electromagnetic (VTEM) survey completed in 2008, identifying multiple electromagnetic (EM) conductive bodies.
Corazon located nine priority targets along a seven-kilometre stratigraphic horizon, providing a compelling exploration opportunity.
The quantity and distribution of these anomalies suggest the MacBride Project has the potential to deliver a cluster of zinc-copper-gold-silver volcanogenic massive sulphide (VMS) deposits, similar to the MacBride deposit.
One conductor is coincident with the high-grade MacBride zinc-copper-gold-silver deposit defined by drilling over a strike of more than 400 metres and to a depth of greater than 300 metres. A further eight similar priority conductors have been defined but are yet to be drill tested.
The company says multiple other conductive bodies have been defined on trend, plus numerous mapped copper mineralisation occurrences are indicated within historical plans from previous exploration.
“Our data processing has generated multiple geophysical conductors, with nine high-priority targets identified and modelled,” Corazon managing director Brett Smith said.
“One of these is coincident with the outcropping drill-defined MacBride zinc-copper-gold-silver deposit.
“The other targets, which are yet to be drilled, are near-surface and generally as large if not bigger than the MacBride deposit conductor, providing multiple high-quality exploration targets which are an immediate priority for Corazon.”
MacBride a major exploration focus
The MacBride Project has become a major focus for Corazon’s Lynn Lake region exploration activities.
The company is planning work programs that will enable the priority conductors to be drilled as soon as possible. Given the relatively elevated terrain of the MacBride Project, it can be explored throughout most of the year.
Corazon plans to undertake ground EM surveys to better locate and define the conductive bodies defined by the aerial VTEM survey, aiming to confirm initial priority drill targets.
Ground EM surveys are able to test deeper than VTEM and better define the size and orientation of conductors for drilling.
Interpreted geology overlain on a greyscale image of VTEM magnetics (tilt-derivative), with VTEM conductors and the surface projections of modelled plates for the priority conductor.
The company will assess and rank its copper-zinc-gold deposits in the Lynn Lake region to prioritise exploration work programs.
The MacBride Project is one of three new areas Corazon has announced the intention to acquire. The company can complete this acquisition by paying C$153,600 to the private owner of the projects before December 13, 2024.