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Corazon Mining Limited (ASX: CZN) (‘Corazon’ or ‘Company’) is pleased to announce it has entered into a binding Heads of Agreement (“Agreement”) with Dynamic Metals Limited (ASX: DYM) (“Dynamic Metals” or the “Vendor”) to secure tenure and gold rights immediately along strike from its recently acquired Chalice Gold Project (“Acquisition”). The Acquisition comprises 100% ownership of tenement E15/1802, as well as gold rights over two adjoining tenements, E15/1705 and E15/1721 (see Figure 1).
Highlights
- Corazon has entered into a binding agreement to secure strategic tenure and gold rights across three tenements covering 170km2 , immediately north and south of the Chalice Gold Project.
- Acquisition comprises 100% legal and beneficial ownership of E15/1802, plus gold rights over the adjoining tenements E15/1705 and E15/17211 .
- Extends Corazon’s footprint well beyond the existing Chalice Mining Lease and Mineral Resource (191koz @ 2.7 g/t Au2 ), securing both the priority southern corridor and the underexplored northern extension of the greenstone belt totalling 40km of prospective strike.
- Acquired tenure hosts several undrilled structural and geochemical targets within the same mineralised sequence that hosts the Chalice deposit, providing a pipeline of opportunities for follow-up exploration.
- Builds directly on the Chalice, Two Pools and Feather Cap acquisitions, further cementing Corazon’s position as a focused Western Australian gold explorer and developer.
- Newly consolidated tenure to be incorporated into Corazon’s district-scale exploration strategy alongside Phase 1 resource growth drilling at Chalice, targeted to commence Q3 CY 2026
The Acquisition materially expands Corazon's strategic land position across one of WA’s most productive gold belts, extending the Company's footprint well beyond the boundaries of the existing Chalice Mining Lease and Mineral Resource. Validation of this historic data is ongoing, with results to inform the Company's planned followup exploration program.
Chalice represents Corazon's third WA gold project acquisition in under 12 months, following Two Pools and Feather Cap, and this latest bolt-on acquisition builds directly on that established WA gold strategy by consolidating control over one of the most prospective areas of the Higginsville greenstone belt. The Company's Phase 1 resource growth drilling at Chalice remains targeted to commence in Q3 CY2026, with the newly consolidated tenure to be assessed as part of the Company's broader exploration planning.
Corazon Mining Ltd Managing Director, Simon Coyle, commented:
"This acquisition secures a highly prospective corridor either side of Chalice, consolidating our position across one of the most compelling gold camps in Western Australia. We’ve picked up direct along-strike extensions to a high grade system that has already produced more than 640,000 ounces of gold, consolidating ground we believe holds real potential before we’ve turned a drill bit ourselves. Structuring the deal with deferred, milestone-linked payments means we only pay as we grow the resource, keeping our balance sheet disciplined while we pursue district-scale upside alongside our Phase 1 drilling at Chalice.”
Figure 1: Location of the newly consolidated Dynamic Metals tenure (E15/1705, E15/1721 and E15/1802) relative to the Chalice Gold Project
Click here for the full ASX Release
This article includes content from Corazon Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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