Australia

Corazon Mining reviews Lynn Lake Nickel Project ahead of accelerated exploration

Corazon Mining Ltd (ASX:CZN) has reviewed its Lynn Lake Nickel Project in Manitoba, Canada, ahead of accelerated exploration and development plans following improved nickel markets.

As part of Corazons process of defining Lynn Lakes development potential, new quality resource estimations have been completed and modern metallurgy has delivered a major technical breakthrough, producing separate high-value and high-purity nickel and copper concentrates.

This work will enable the determination of value for the historical Lynn Lake mining centre in Manitoba at a time when there is an expectation of future increased demand for metals.

With little modern exploration being undertaken, the company believes the opportunity for discovery at Lynn Lake is substantial.

Mineral resource estimate upgrade

The current total resource estimate includes just six deposits within the mining centre, with numerous areas of mineralisation yet to be evaluated as potential additions to the resource base.

The resource includes 16.3 million tonnes at 0.72% nickel, 0.33% copper, 0.033% cobalt for total contained metal of 116,800 tonnes nickel, 54,300 tonnes copper and 5,300 tonnes cobalt with 5.4 million tonnes at 0.99% nickel, 0.41% copper, 0.043% cobalt of high-grade material.

Upcoming drilling

Recent work highlights Lynn Lakes potential, with discoveries made by several companies including Western Areas NL (ASX:WSA) and Independent Nickel Inc.

Mining studies at Lynn Lake have predominantly centred on nickel deposits at depths of more than 400 metres below the surface.

The companys recent work has highlighted the potential to define additional resources closer to the surface, adjacent to historically mined areas.

Priority targets for upcoming drilling programs are focused on near-surface mineralisation, as well as areas on-trend from the historical workings at Lynn Lake.

Corazon is working on plans for new drilling programs to test these areas, in addition to further work at the A Orebody and E Orebody prospects.

Regional exploration

A priority target for the company is the Fraser Lake Complex (FLC) where drilling has discovered a large magmatic sulphide system that is an analogy to the Lynn Lake deposits.

The best results returned to date include 22.6 metres at 0.70% nickel and 0.35% copper frRead More – Source