Corazon Mining Limited (ASX: CZN) has commenced an aerial VTEM Plus (versatile time domain electromagnetic) geophysical survey at the MacBride base and precious metals project in the Lynn Lake district, Manitoba province, Canada.
The VTEM Plus system is a modern, high-power precision geophysical tool, from which accurate drill targets can be defined. This survey will negate the requirement for expensive and time-consuming ground-based electromagnetic geophysical surveys.
The aerial survey is expected to be completed within the week, with the final data contractually obligated to be provided within eight weeks. The early provision of preliminary data may enable the company to accelerate target definition work.
The geophysical survey will cover the MacBride Deposit and the MacBride North cluster of conductive bodies (geophysical anomalies) as well as the Wellmet Deposit, six kilometres to the northwest of MacBride.
Corazon’s processing of a previous VTEM survey (2008 vintage), over a small part of the MacBride Project, identified multiple conductors including an anomaly coincident with the drill-defined, high-grade MacBride zinc-copper deposit.
The nearby Wellmet copper-gold-zinc deposit and surrounds have not been tested with modern geophysics. Corazon’s VTEM Plus survey over this area represents an exciting opportunity to define the full extents of the high-grade mineralisation identified in the historical drilling.
MacBride Project Summary
The MacBride Project is located within the Lynn Lake region of Manitoba, Canada, The region has a history of mining and exploration for magmatic nickel sulphide, volcanogenic zinc-copper-gold massive sulphide (VMS) and orogenic gold, dating back to the late 1940’s. The main historical mining operations have included the Lynn Lake nickel-sulphide mining centre (100% owned by Corazon), the Fox Lake copper-zinc mine and the MacLellan-Gordon gold deposits.
VMS deposits typically exist as stratiform lenses of polymetallic sulphide mineralisation occurring in clusters. World-class VMS camps are well established within the province of Manitoba, including the Flin Flon – Snow Lake region, approximately 250 kilometres south of the Lynn Lake greenstone belt.
The MacBride Project hosts the outcropping, drill-defined, MacBride and Wellmet massive sulphide deposits, which are located approximately six kilometres apart on a regionally identifiable stratigraphic trend.
Outcropping mineralisation was discovered in the MacBride area in the late 1940’s, with drilling campaigns completed through to the early-1990’s.
Drilling has tested the MacBride deposit over a strike of approximately 400 metres, to a depth of about 300 metres. Corazon is in the process of validating this historical work, with the intention of using the information to complete geological and resource modelling.
Historical exploration information at Wellmet is not as extensive as it is for MacBride. No published reports are available regarding the exploration of this prospect over the last 30 years. Exploration at Wellmet has defined multiple sulphide shows and geophysical anomalies. Drilling of the main prospect intersected a number of zones including a main, zinc-rich massive sulphide horizon and a copper-gold dominant stringer-horizon. Drilling has tested the main Wellmet Deposit over a strike of approximately 240 metres and to a depth of about 370 metres below surface.
The only modern exploration to be undertaken at the MacBride Project is an airborne VTEM geophysical survey completed by Western Areas NL (ASX: WSA) in 2008. Corazon processed data from this VTEM survey and identified multiple electromagnetic (EM) conductive bodies.
The quantity and distribution of these anomalies suggest the MacBride Project has the potential to deliver a cluster of zinc-copper-gold-silver volcanogenic massive sulphide (VMS) deposits, individually similar to the drill-defined MacBride deposit. MacBride has become a major focus for Corazon’s Lynn Lake region exploration activities. Planning is underway for work programs that will enable drilling of the priority conductors as soon as possible.
The MacBride Project acquisition was announced on 13 June 2024. The company can complete this acquisition by paying C$153,600 to the private owner of the projects. The date for completion of this payment has been extended, by mutual agreement, until the end of December 2024.