Corazon said that Lynn Lake was mined for 24 years before closure in 1976 and remains one of Canada’s most prolific nickel sulfide mining centres.
Corazon Mining (ASX: CZN) has announced a new, upgraded mineral resource estimate for the Lynn Lake nickel-copper-cobalt sulfide project in Canada.
Corazon said that Lynn Lake was mined for 24 years before closure in 1976 and remains one of Canada’s most prolific nickel sulfide mining centres. The newly upgraded resource incorporates the EL, N, O and P deposits, as well as the recently discovered Disco deposit.
As highlighted in the press release:
- New, upgraded JORC mineral resource estimate for the Lynn Lake nickel-copper-cobalt project of; 15.3 million tonnes at 0.72 percent nickel, 0.34 percent copper, 0.034 percent cobalt (indicated and inferred, 0.5 percent nickel cut-off), total contained metal of 110,300 tonnes nickel, 51,400 tonnes copper, 5,200 tonnes cobalt.
- New Resource Estimate represents more than a 60 percent increase in total tonnes and a 35 percent improvement in nickel and copper metal from previous 2015 Resource Estimate
- Cobalt included in Lynn Lake Resource Estimate for the first time, adding significant value
- Includes an internal high-grade Resource Estimate of; 5.2 million tonnes at 1.00 percent nickel, 0.41 percent copper, 0.044 percent cobalt (indicated and inferred, 0.7 percent nickel cut-off)
- Resource upgrade from only five deposits at the Lynn Lake Project – 11 other deposits yet to be assessed, providing significant further Resource upgrade potential
- New Resource plus positive results from ongoing metallurgical work expected to deliver major benefits to mining and development studies – planned to be completed early 2019