Corazon clears final hurdles for maiden WA gold drill push

Corazon Mining is ticking off the final regulatory boxes ahead of maiden drilling at its Two Pools gold project in Western Australia’s Gascoyne region. 

With drilling approvals now in hand, a heritage survey is underway, as the company prepare to drill test its sizeable gold footprint at the project.

The Two Pools project was recently scooped up by Corazon late last year. It sits within WA’s prolific Plutonic–Marymia greenstone belt, a district known for its heavyweight neighbours, including the $2 billion market-capped Catalyst’s Plutonic gold operations and its high-grade Trident deposit. 

A 4km-long gold prospect at Two Pools lays claim to multiple high-grade historical gold intercepts, which, despite their promise, have never been systematically followed up. 

The company says it has received Mines Department approval covering both reverse circulation and diamond drilling at the target. At the same time, a heritage survey has been rolled out in partnership with the Gingirana people through Marputu Aboriginal Corporation, the native title holders for the area. 

Once the survey is completed, all boxes will be ticked, and Corazon can quickly mobilise the rigs and prepare its drilling pads. 

Initial drilling will focus on Target Area 1, where recent work has defined a substantial gold-in-soil anomaly measuring roughly 1.8 kilometres by 1.2 kilometres. 

Historical drilling is begging for follow-up attention, with standout intercepts, including 18 metres grading 3.89 grams per tonne (g/t) gold from 83m, with a richer four-metre interval running at 15.96g/t.  Other holes returned higher-grade hits of 8m running 7.83g/t gold from 68m and a 12m at 8.89g/t from 79m. 

Corazon believes that a combination of strong gold hits, a large surface anomaly and minimal modern exploration leaves plenty of room for discovery upside as drilling begins to test strike and depth extensions. 

Corazon Mining managing director Simon Coyle said: “The commencement of the heritage survey and the approval of our PoW are key steps for the Two Pools Project. With a significant 1.8km x 1.2km surface anomaly at Target Area 1 and historical high-grade gold intercepts that have never been followed up, we see clear potential here. We look forward to completing the survey and moving the rigs onto the ground to test these high-priority areas” 

From a broader strategy perspective, Two Pools sits at the heart of Corazon’s push to build value through high-grade gold exploration in Western Australia. 

The project complements the company’s Feather Cap gold asset in the Bryah–Padbury Basin to the southwest. 

The duo of projects provide near-term exploration momentum while Corazon also retains leveraged exposure to base and battery metals through its Lynn Lake nickel-copper-cobalt project in Canada. 

For gold punters, however, the immediate story is all about Two Pools. 

A large, coherent gold anomaly, high-grade historical results and imminent drilling form a familiar but powerful recipe. 

Once heritage clearance is locked in and the rigs roll, the drill bit will get its moment of truth – either confirming the greenstone patch can host a modern discovery or quickly pivoting attention across the broader Two Pools tenure.

With gold prices once again heading north and the WA sector white hot, Corazon’s timing looks solid. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au