Corazon soars 92% on drilling results

Base metals explorer Corazon Mining's shares have emerged from a trading halt to surge by more than 90 per cent after it unveiled spectacular drilling results at its Lynn Lake nickel sulphide deposit in Canada.

Corazon's stock was up 92 per cent at close of trade today, to reach 12.5 cents..

It was placed in a pre-open pending the drilling results last Friday.

The company announced today that drilling at Lynn Lake's EL deposit had intercepted 23 metres of semi-massive sulphide breccia from a 731.25m downhole.

Visual and hand-held XRF analysis supported the existence of nickel and copper mineralisation, Corazon said.

The mineralisation lies below the current resource, and may constitute a new zone of massive breccia as mined at the historic EL mine.

Corazon said it planned to drill to a depth of 1,250 metres

The discovery adds to additional nickel sulphide mineralisation at Lynn Lake that Corazon announced earlier this month.

Drilling at the 150 prospect at Lynn Lake identified two near surface zones of sulphide mineralisation, one with widths of up to 41 meters downhole.

The Lynn Lake nickel camp is Canada's third largest nickel mining region, and produced 22 million tonnes of nickel/copper/cobalt ore between 1953 and 1976.

There has only been minimal exploration in the region since.