Corazon Mining completes Mount Gilmore Due Diligence

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) informed the market it has completed the due diligence process on the Mount Gilmore cobalt-copper-gold project in north-eastern New South Wales.

Corazon recently announced it had entered into an agreement with Providence Gold and Minerals Pty Ltd for an exclusive right to earn up to an 80 per cent interest in the project through payment of cash and shares, plus the expenditure of $2.2 million in-ground.

The due diligence process included a reconnaissance site visit of the project area by Corazon, which the company said was extremely encouraging as it highlighted cobalt mineralisation at the key Cobalt Ridge prospect to be open ended, extending under cover to the east and west towards granite contact –increasing the total defined strike length potential.

“Other prospects within the project area, initially identified as copper-gold targets, also appear to host strong cobalt mineralisation,” Corazon Mining said in its ASX announcement.

“In the company’s view, this significantly adds to the project’s cobalt potential.”

Email: info@corazon.com.au

Website: www.corazon.com.au