The Company advises that priority drill targets are defined and preparatory works for drilling have been completed. Drilling is expected to commence in early February.
Corazon's recently completed aerial MobileMT geophysical survey at Lynn Lake (ASX announcements
The anomalies of interest are located in a new untested area immediately adjacent to drill defined nickel-copper-cobalt sulphide mineralisation within the
Initially, the drilling will test priority geophysical conductors located on strike from the Matrix Trend within the FLC. The Matrix Trend is an induced polarisation (IP) highchargeability geophysical trend that is extensively contaminated with magmatic sulphide mineralisation. Previous drilling by Corazon within the Matrix Trend has returned widespread low-level disseminated nickel-copper-cobalt mineralisation, and narrow zones (less than one metre) of semi-massive to massive nickel-copper-cobalt sulphide. It is interpreted that pules of magma have intruded into the FLC, along the Matrix Trend, from the conductive centre to the southwest.
An additional priority target area for drilling is the South Pipe conductor. The South Pipe conductor is the most substantial, and highest priority, conductive anomaly defined by the MobileMT survey.
This new anomaly is part of two large magnetic pipe-like bodies, possibly indicative of a deep-seated intrusive pathway that appears linked to known nickel-copper-cobalt sulphide mineralisation within the FLC.
The high priority South Pipe target is located on newly acquired tenure (ASX announcement
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Forward Looking Statements
This announcement contains certain statements that may constitute 'forward looking statement'. Such statements are only predictions and are subject to inherent risks and uncertainties, which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward looking statements.
Forward-looking statements are statements that are not historical facts. Words such as 'expect(s)', 'feel(s)', 'believe(s)', 'will', 'may', 'anticipate(s)' and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
The Company believes that it has a reasonable basis for making the forward-looking Statements in the announcement based on the information contained in this and previous ASX announcements. The Company is not aware of any new information or data that materially affects the information included in this ASX release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the exploration results in this release continue to apply and have not materially changed.
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