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Corazon Mining Ltd. (ASX:CZN) announced that it’s negotiated new and “significantly more favourable” terms for its acquisition of the Manitoba-based Lynn Lake nickel-copper project.
Corazon Mining Ltd. (ASX:CZN) announced that it’s negotiated new and “significantly more favourable” terms for its acquisition of the Manitoba-based Lynn Lake nickel-copper project.
Highlights include:
- The new terms remove the requirement for a C$1M lump sum payment and pave the way for the continued advancement of the Project.
- Corazon controls the entire Lynn Lake nickel district including ground owned 100% by Corazon and ground on which Corazon has an option to acquire 100%.
- The new terms relate specifically to Corazon’s option to acquire the Lynn Lake Project.
Brett Smith, managing director of Corazon, commented:
This new deal helps with advancement of the Project and we’re fortunate that all parties have the common goal of developing Lynn Lake. We’ve recently consolidated the land package and having all the prospective nickel ground under the control of one company provides an enormous benefit to focus investment and optimise our resources.
The work Corazon is currently undertaking at Lynn Lake is extremely exciting. We have access to an enormous amount of mining and exploration data across the entire project area which is yet to be consolidated and analysed using modern exploration understanding and techniques.
Click here to read the full Corazon Mining Ltd. (ASX:CZN) press release.