Corazon Mining defines new high-priority porphyry copper-gold target

Corazon Mining Limited (ASX: $CZN) has announced the identification of a new, large-scale, high-priority porphyry copper-gold target at its Mt Gilmore Project in New South Wales, Australia. The May Queen target, situated at the northern end of the Mt Gilmore Trend, has been defined as a significant anomaly with a strike length of approximately 2km, displaying mineral chemistry analogous with other giant porphyry copper-gold deposits in NSW.

Executive Commentary on Mt Gilmore Project

The results of our body of work with CODES at UTAS has been a great success for the Company, and our exploration of the Mt Gilmore Project. The geochemical targeting work undertaken by CODES has helped to define strong drill targets in a complex geochemical environment. Porphyry copper-gold systems typically have large footprints and it can take a significant amount of drilling to identify the best areas to focus on. We're hoping the targeting process completed has mitigated the need to do this. Mt Gilmore displays many characteristics typical of large porphyry copper systems, and the outcomes of the work by CODES has helped define what is interpreted as a high-priority drill target at the May Queen prospect. Drilling of the May Queen will now be a high-order priority for the Company.

Summary of Mt Gilmore Project Announcement

Corazon Mining has successfully identified a new, large-scale, high-priority porphyry copper-gold target at the Mt Gilmore Project in NSW, Australia. The May Queen target, with a strike length of approximately 2km, displays mineral chemistry analogous with other giant porphyry copper-gold deposits in the region. The Company has commenced planning for a maiden drill program at May Queen, which will include access requirements and all drilling approvals. The outcomes of the work by CODES at the University of Tasmania have validated Corazon's porphyry copper-gold exploration model at the Project. The Company plans to begin consultation with local landowners and key regional stakeholders to secure access to initial priority drill hole locations in the target area. Upon granting of all requisite approvals for drilling, Corazon aims to commence drilling at the May Queen target as a key priority.