Corazon Mining announced that drilling has commenced at the Mt Gilmore Cobalt-Copper-Gold Project in north-eastern New South Wales.
The Perth-based explorer said the maiden drill program – comprising approximately 2,000 metres of RC drilling to depths of about 150 metres – will focus predominantly on the advanced, high grade Cobalt Ridge prospect.
“The program is designed to confirm the continuity and extents of high-grade mineralisation within the prospect area, identified from previous drilling,” Corazon told the ASX.
“Previous drilling depths at Cobalt Ridge average less than 100 metres and identified multiple parallel sub-vertical Co-Cu-Au sulphide lodes over a strike length of 300 metres, with overall widths of between 50 metres and 120 metres.”
According to the company, the cobalt mineralisation is considered high-grade, with previous individual 1 metre drill results including grades of up to 3.38% cobalt, 3.18% copper and 4.92 g/t gold.
The Mt Gilmore project also includes multiple promising, newly defined cobalt targets over a strike of approximately 11 kilometres. According to Corazon, fieldwork to test new areas for cobalt-copper-gold mineralisation within the wider Mt Gilmore project area is ongoing.
“The Iron Mountain and Hassan’s Creek prospects have both returned positive cobalt results from recent rock-chip and soil sampling programs,” reads the statement.
“These are priority targets for follow-up work and as such three drill holes are proposed for the Iron Mountain prospect, following the completion of drilling at Cobalt Ridge.”
Drilling at the Mt Gilmore Cobalt-Copper-Gold Project is expected be completed within the next three weeks.