Corazon Mining Ltd (ASX:CZN, OTC:CRZNF) has signed a new exploration agreement with the Marcel Colomb First Nation for the Lynn Lake nickel sulphide project in Manitoba, Canada that supports further exploration activity and potential nickel sulphide mining at Lynn Lake.
Corazon has been exploring at Lynn Lake since 2010 and actively engaging with the Marcel Colomb First Nation during that time.
Replacing an existing exploration agreement from 2019, the new agreement provides more structure on how the parties will work together to progress the exploration and development activities at both the Lynn Lake project and the Fraser Lake project.
The agreement outlines a framework for collaboration on proposed exploration and re-development activities, elevating the First Nation as important stakeholders in the projects’ success, and in Corazon as shareholders.
It sets the framework for advancing a long-term relationship while working to negotiate an agreement that considers economic benefits to Marcel Colomb First Nation, should Corazon re-establish productive mining within its traditional territory. The agreement also includes employment, business contracting and training opportunities for First Nation members.
Corazon’s Lynn Lake project is a prolific historical nickel-copper-cobalt mining centre that was mined for 24 years before its closure in 1976. Here, Corazon has a two-pronged strategy, focused on development and exploration.
Mining Centre studies are seeking cost and performance efficiencies in mining and processing practices, progressing the possible development of a significant, low-cost mining operation.
Exploration in the mine area is looking to expand the near-surface JORC resource base in search of start-up feed to complement existing resources at depth.
Exploration within the greater project area has focused on the Fraser Lake Complex, where a large magmatic sulphide system — bigger than the Lynn Lake mine area footprint — has been discovered.
Marcel Colomb First Nation chief Christopher Colomb said: “With this agreement, we hope to continue with the close relationship we have with Corazon. We are in full support of Corazon’s exploration activities regarding the Projects and our goal is to ensure it benefits the original landowners of the traditional territory of Marcel Colomb First Nation for generations to come. We are committed to ensuring that all development on our territory is carried out in a respectful manner that honours our Aboriginal and Treaty rights, natural environment, homelands, traditions, protocols and language.”