Corazon Mining will further consolidate its footprint at its Two Pools gold project in Western Australia’s Murchison region by applying for a new exploration licence covering 99 square kilometres, contiguous with its existing ground.
The application area, comprising 32 sub-blocks, would expand the project’s total landholding to 296 square kilometres, considerably strengthening Corazon’s foothold in this prospective but underexplored area.
It strategically targets part of a mineralised corridor Corazon has identified via its ongoing geophysical studies that points to a high-priority Two-Pools-style trend plunging to the northwest beyond the company’s current tenure.
The existing tenure is part of an acquisition announced in early August, which is still subject to shareholder approval, comprising two contiguous exploration licences enclosing ground also considered highly prospective and underexplored.
Historical exploration within the new application area was limited to shallow rotary air-blast drilling that averaged about 40 metres depth. This suggests significant potential for Corazon to discover deeper mineralisation.
Previous drilling results on the existing adjacent Two Pools tenure highlights the possibilities. An earlier program intersected 5m going 3.61 grams per tonne (g/t) gold from 236m in one hole, including 1m assaying an impressive 16.29g/t gold.
Corazon’s Two Pools gold project is in the Plutonic-Marymia greenstone belt, about 60km from Catalyst Metals’ Plutonic gold processing plant.
The company’s reprocessing of magnetic data has revealed an extensive greenstone sequence in its ground, which significantly enhances the project’s standing in the prospectivity stakes.
The project area hosts a 20km-long strike covering almost all of an intriguing greenstone belt between 3km and 6km wide, which was misidentified as granite in earlier maps. The misidentification might explain why its previous exploration potential was overlooked.
Corazon Mining managing director Simon Coyle said: “This is a logical and strategic move to expand our footprint at the Two Pools gold project. Our ongoing technical work has identified a compelling, untested target that extends beyond our current ground, and we have acted quickly to secure this prospective corridor.”
Coyle added that the success of previous drilling in identifying gold beneath shallow cover would instil confidence in the company’s exploration model.
Historical drilling by Great Central Mines between 1990 and1994 and by AIC Resources in 2018 confirmed gold mineralisation associated with quartz veining in mafic and ultramafic amphibolite units, obtaining standout results that included 12m assaying 8.89g/t gold and 18m running 3.89g/t gold.
Those findings, coupled with rock chip samples as high as 34.7g/t gold and extensive soil gold anomalism, underscore the potential for one or possibly multiple significant gold systems that could be similar to or even analogues of the nearby Plutonic gold mine’s structurally-controlled greenstone-hosted deposits.
If the new application receives department approval, Corazon plans to incorporate the new permit into its project-wide geological review and ongoing geophysical analysis, reinterpretation of public domain data and planning of systematic on-ground exploration. No competing applications were lodged when the company’s application was placed.
Corazon’s Two Pools gold project - and its new extension - represents a potentially transformative opportunity for the company to expose the secrets lurking within a largely untested greenstone belt in a proven gold-producing region.
Corazon appears well-placed to secure the new ground, which will enable the company to expand and advance a well-founded, cohesive exploration campaign across the full area of tenure. Timely and strategic expansion of its Two Pools ground signals the company’s strong confidence in the project’s increased potential to discover significant gold mineralisation.
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By Doug Bright
