Corazon lines up freshly-granted Gascoyne gold tenure for new year

Corazon Mining has cleared a major hurdle at its exciting Two Pools gold project in Western Australia’s Gascoyne region, with its two core tenements now formally granted by the State’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).

The green light means the company can push full steam ahead with on-ground work and it has already finalised the design of an early-2026 diamond drilling program. 

Discussions with drill contractors are underway, rigs are being lined up and drilling will begin as soon as final heritage clearances are signed off – a process Corazon has fast-tracked after recently inking a strong land-access and co-operation agreement with the Gingirana people via the Marputu Aboriginal Corporation.

The first phase of diamond core drilling will twin some of the best historical holes to independently verify previous explorers’ high-grade gold hits, while also giving the team critical information on the orientation of mineralised structures. 

That structural data will be gold dust when it comes to chasing extensions to known shoots.

Corazon Mining managing director Simon Coyle said: “The granting of these tenements is an important green light, allowing us to get boots on the ground at Two Pools. We are now moving quickly to secure a rig and finalise logistics to ensure we are drilling early in the new year.” 

Standout historical exploration results Corazon is keen to confirm include three obtained from AIC Resources’ 2018 drilling at Two Pools where the best intercept was 12m assaying 8.89g/t gold from 79m, including 3m at a whopping 34.25g/t gold. 

A second hole bored through 18m going 3.89g/t gold from 83m, including 4m running at 15.96g/t gold, while a third hole pulled up 1m assaying a remarkable 52.24g/t gold included in an 8m intercept at 7.83g/t gold from 66m depth.

Corazon’s planning is also well advanced for follow-up reverse-circulation drilling to test along-strike extensions and a string of new targets thrown up by recent geophysical re-processing.

Two Pools sits just 60km northeast of Catalyst Metals’ under-utilised Plutonic mill, within what is now recognised as the northeasterly extension of the same Plutonic-Marymia greenstone belt which has already produced more than six million ounces of gold.

The project shares striking geological similarities with Catalyst Metals’ high-grade Trident deposit, where gold-bearing greenstones sit beneath a thin wedge of overthrust older granite.

With its heritage survey progressing rapidly and a diamond drilling program designed to verify the previous big gold hits, Corazon is shaping up for a busy early start to the new year in one of Australia’s most underrated gold belts.

Following a rapid operational reset and with its Two Pools tenure granted, a key native title partnership sealed and the drill rigs booked in, Corazon has all the pieces of the puzzle in place to properly test what is looking like a genuine high-grade gold system in the shadow of a hungry mill.

WA’s Gascoyne region could be about to deliver another discovery story.

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