Porphyry Copper Target Identified at Mt Gilmore Project

Porphyry Copper Target Identified at Mt Gilmore Project

Innovative geochemical studies undertaken by the University of Tasmania uncovers new targets with signatures similar to known large deposits and provides a focus for ongoing exploration in New South Wales

Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce the identification of a new target area for a potential porphyry copper deposit at the Mt Gilmore Project (Mt Gilmore or Project) in New South Wales (NSW).


Key Highlights

  • Initial mineral vectoring geochemical studies have been completed by CODES at the University of Tasmania on rock and drill core samples collected from the Mt Gilmore Project
  • The studies show the Mt Gilmore Cu-Au-Co trend has a complex hydrothermal history and geochemical characteristics particular to known large porphyry Cu deposits
  • Results are extremely encouraging – additional mineral studies and geophysics will assist the definition of targets expected to be easily testable with drilling.

The new porphyry copper target area has been generated from initial results of a mineral chemistry vectoring study conducted by the University of Tasmania. Based on the positive results of this work, Corazon plans to undertake a new phase of targeted fieldwork at the Mt Gilmore Project.

Corazon's Mt Gilmore Project is located within the New England Orogen of northeastern NSW (Figure 1). Geochemical and geophysical surveys completed by Corazon at Mt Gilmore have indicated the potential for concealed intrusion related or porphyry copper-gold hydrothermal systems. However, identifying precise drill targets has been difficult due to the size of the geochemical anomalies (i.e. main target area of ~8km x 2km – Figure 2), poor surface exposure and lack of historical drilling.

In recent years, significant research has been devoted to mineral chemistry studies to assist in the exploration for blind mineral deposits. Work by the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania has included porphyry vectoring and fertility tools (PVFTs), which use the chemical compositions of hydrothermal minerals to predict the likely direction and distance to mineralised centres, and the potential metal endowment of a mineral district.

Such studies completed by CODES on samples from Mt Gilmore have delivered exceptional early results, supporting the Project’s prospectivity and strong porphyry copper potential.

Figure 1 – Mt Gilmore Project Location

Rationale for Mineral Chemistry Vectoring Studies

Exploration by Corazon at the Mt Gilmore Project has identified a very large copper-cobalt-gold-silver soil geochemical anomaly over the full 22-kilometre strike of exposed basement rocks (Figure 2). This soil geochemical anomalism is supported by high-grade rock-chip samples from outcrops throughout the Project (ASX announcement 5 February 2019).

Reconnaissance induced polarisation (IP) geophysical surveys over the three main anomalies at Gordonbrook Hill, Lantana and May Queen (Figure 2) (ASX announcement 23 July 2019) identified chargeability anomalism at all prospects. Subsequent drilling of the Gordonbrook Hill IP anomaly (ASX announcement 16 June 2021) supported that, despite no strong sulphide mineralisation being identified, the IP method was a very good mapper of alteration. The detail provided by the drilling contributed to conflicting models for the potential style of mineralisation at Gordonbrook Hill.

Advances in the understanding of using mineral chemistry to identify and vector towards porphyry related hydrothermal deposits, including successful case studies, provided the opportunity for Corazon to potentially:

  • Define the type of hydrothermal system(s) present at Mt Gilmore and their occurrence in time (relative to other geological features);
  • Define the possible size and fertility of any the mineralised system(s); and
  • Identify the location(s) in three-dimensions of the heat source that caused the hydrothermal mineralisation.

Rock chip and drill core samples from the May Queen, Gordonbrook Hill and Cobalt Ridge prospects (Figure 2) were submitted to CODES for testwork, sampling a variety of mineralisation/alteration styles over a strike of ~16km within the Mt Gilmore Trend.

Figure 2 – Mt Gilmore Project interpreted geology with a copper in soils geochemical image over the sedimentary/volcaniclastic basement rocks, with mineral occurrences and prospect locations.


Click here for the full ASX release

This article includes content from Corazon Mining, 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.

CZN:AU
The Conversation (0)
Pivotal Metals

First Two Step-out Holes Extend High Grades at Horden Lake

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the assay results of two further drill holes from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.

Keep reading...Show less
Ontario map.

Wyloo to Build Canada’s First Battery Materials Processing Facility in Sudbury

Privately owned critical materials company Wyloo announced on May 29 that it has secured a parcel of land in Sudbury, Ontario, to construct Canada’s first downstream battery materials processing facility.

The project is geared at bridging a gap in the conversion of raw materials to battery-grade chemicals for Canada’s electric vehicle (EV) supply chain, while also reducing the country's reliance on imports.

Construction is anticipated to align with the development of Wyloo’s Eagle’s Nest mine in Northern Ontario’s Ring of Fire region, with mine construction expected to commence in 2027 and the facility to follow thereafter.

Keep reading...Show less
Grid Battery Metals (TSXV:CELL)

Grid Battery Metals


Keep reading...Show less
Tartisan Nickel (CSE: TN)

Tartisan Nickel Corp. Acquires Additional Claims for the Kenbridge Nickel Project, Advances Baseline Studies

Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan", or the "Company") is pleased to announce that the Company has acquired additional contiguous claims at the Kenbridge Nickel Project, Northwestern Ontario. The total property size now consists of 93 contiguous patents, 153 single cell mining claims and 4 Mining Licenses which in total cover 4,273 ha. The patents and staked cells are owned 100% by Tartisan Nickel Corp. through wholly owned subsidiaries.

The Kenbridge Nickel Project is in the north-central part of the Atikwa Lake area and the south-central part of the Fisher Lake area, Kenora Mining Division, 70 kms east-southeast of the Town of Kenora in northwestern Ontario, Canada. The Kenbridge Nickel Deposit hosts a Nickel-Copper Resource with a 622-meter shaft.

Keep reading...Show less
Pivotal Metals

Drilling Confirms Thick Copper Zone Continuity at Horden Lake

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide assay results from two further drill holes from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.

Keep reading...Show less
Platinum and nickel bars.

3 Top Weekly TSXV Stocks: Power Nickel Leads with 70 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 14.25 points last week to close at 595.95.

One of the biggest news items this past week was Panama's presidential election, held on Sunday (May 5). Jose Raul Mulino secured 34 percent of the vote against five other candidates to become the country’s president.

Mulino was a last-minute replacement after former President Ricardo Martinelli was barred from running due to a money laundering conviction. Mulino was minister of public security during Martinelli's presidency, which ended in 2014.

Keep reading...Show less

Latest Press Releases

Related News

×