Results from assay drilling at Corazon’s copper-gold-cobalt project in Cobalt Ridge, NSW, has revealed extensive high-grade mineralisation potential.
While further results have yet to be released, samples have already returned positive results, such as 5.4 grams of gold per tonne, 0.09 per cent cobalt (898 parts per million) and 0.41 per cent copper. Simple flotation testing has yielded 92.2 per cent cobalt recovery, 89 per cent copper recovery and 75.5 per cent gold in an 11.1 per cent mass recovery concentrate.
Corazon has completed 15 holes with six tails; results are pending for three completed holes targeting the main lode, which are expected to be released soon.
Corazon also owns a 51 per cent interest (with exclusive interest rights up to 80 per cent) in the promising Mt Gilmore project in northeastern New South Wales, which includes over 25 copper, gold, cobalt and iron workings with rock chips up to 26.8 per cent copper and 9.2 grams of gold per tonne.
In addition, the company has been drilling at Flintoff’s Trend, approximately 200 metres north of the main cobalt lode; rock chip sampling of results by past operatiors has returned levels of up to 9 per cent cobalt in this area.