Corazon Mining expands Manitoba landholding on acquisition of high-grade deposits

Proactive - Interviews for investors

Corazon Mining Ltd (ASX:CZN) managing director Brett Smith joins Jonathan Jackson in the Proactive studio to discuss an agreement to expand its landholding in Manitoba, Canada, by acquiring three drill-defined zinc-copper-gold deposits near its flagship Lynn Lake nickel-copper-cobalt sulphide project. This strategic acquisition increases Corazon’s portfolio within the Lynn Lake region to seven zinc-copper-gold deposits and enhances the potential for Lynn Lake to become a regional polymetallic processing hub, focusing on critical minerals like zinc and copper. The MacBride deposit, the highlight of this acquisition, features significant historically published metal endowment with continuity from the surface to approximately 300 metres. Drilling results include 10.7 metres at 9.98% zinc and 0.56% copper from 32.9 metres and 4.9 metres at 9.86% zinc and 0.20% copper from 119.8 metres. The Wellmet Prospect shows numerous surface copper occurrences and electromagnetic conductors. Notable drill results include 4.2 metres at 6.20% zinc and 0.91% copper from 36.1 metres. The Barrington Prospect has shown copper mineralisation in sparse exploration drilling. Corazon’s strategy includes potentially restarting mining at Lynn Lake with a focus on low operational costs and leveraging high-grade zinc-copper deposits. Historical mining in the Lynn Lake region dates back to the 1940s, focusing on nickel sulphide, volcanogenic zinc-copper-gold massive sulphide and orogenic gold. Corazon will acquire the mineral tenure for C$153,600 (~A$168,000) with the vendor, PC Dunlop, retaining a 2% net smelter royalty. Corazon retains the right to purchase up to 1% of this royalty. Initial due diligence of the project areas has been completed.