Corazon Mining: New Cobalt Zones Identified at Cobalt Ridge, Mt Gilmore

Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce that results from its recently completed soil geochemistry program at the Mt Gilmore Cobalt-Copper-Gold Project (“Project”) in north-eastern N.S.W. have identified new zones of cobalt mineralisation at the Cobalt Ridge prospect, one of the highest-grade cobalt deposits in Australia.
As quoted in the press release:

Result Highlights

• Results of recently completed soil sampling at Cobalt Ridge received –

  • Extensions defined to one of the highest grade cobalt deposits in Australia;
  • Several new zones of cobalt and copper mineralisation also identified

• Soil geochemistry results and detailed 3D modelling of drilling being used to define additional mining proposed for Q3, 2017

• “Main Cobalt Lode” defined over a 450m strike and expected to continue under cover –

  • Drilling has only tested 200m strike of this zone.

• “Flintoff’s Trend” defined by soil geochemistry over +350m strike extending under cover –

  • Not tested by drilling – situated less than 200m north of the Main Cobalt Lode;
  • Supports highest grade cobalt in soils result within project area;
  • Selective rock chip sampling of old workings by past operators returned up to 8.9% cobalt, as well as 0.76% cobalt from surface rock chips.

• Dominant trend of copper mineralisation traced over a strike of 1.5kms associated with cobalt anomalism for 1km of this trend, providing additonal; potential for copper-cobalt-gold mineralisation like Cobalt Ridge.

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