Corazon Mining has announced that it has identified promising geophysical anomalies following an induced polarisation (IP) geophysical survey close to its Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Corazon has completed 49km of gradient array IP in a first pass reconnaissance survey over the Fraser Lake Complex (FLC), which is located 5km south of the historic Lynn Lake mining centre.

Anomalous nickel and base metal mineralisation within the FLC was found by the mining company Sherritt-Gordon in the late 1940’s and early 1950’s, around the same time as the massive sulphide discovery at Lynn Lake.

Lynn Lake went on to be mined for 24 years before closure in 1976 and remains the fourth largest nickel producing area in Canada after Sudbury, Voisey’s Bay and Raglan.

"The results we are seeing in this IP indicate support for a 70-year held belief that there has to be mineralisation at the FLC."

Last April, Corazon entered into an agreement with Victory Nickel, a Canadian-based firm, for the purchase of the main mining area at Lynn Lake.

The IP survey has identified multiple strong-chargeable anomalies that are geophysically analogous to the nickel-copper-cobalt sulphide mineralisation mined for decades within the Lynn Lake Mining Centre.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Detailed follow-up IP surveys are now underway with an aim to map high-priority drill-hole targets.

Corazon managing director Brett Smith stated: "The results we are seeing in this IP indicate support for a 70-year held belief that there has to be mineralisation at the FLC.

"These anomalies aren’t where the old-timers were looking, but in hindsight where they are located make good geological sense."